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Short sales are complex. In the recent years I've dealt with many short sales on both the buyer and seller sides. Through education and experience, I've become knowledgeable of all aspects of a short sale. I have an understanding of how different banks work the short sales on their end. In a brief conversation, I can explain the process and the steps that you, the seller, are going to have to take to increase your chances of a short sale going through.
I recently joined forces with NW Negotiations, a short sale negotiation company. NW Negotiations is a proven short sale negotiating company. They've worked with all the big banks and know all of the process. They represent the seller in the negotiation process. NW Negotiations has tons of experience that no Realtor is going to be able to offer. Yet they are still available by phone or e-mail all of the time to their clients. And best of all, it doesn't cost you a dime to have their representation. They are paid through the real estate commission by the lenders. Depending on the situation though, we may come to a decision that I would be better off to negotiate your short sale (which I still do on a regular basis).
Depending on your situation, we'll market the home to get an offer by a certain date. Typically this means lowering the price every couple of weeks, (when we get close to our target date), until we receive an offer. Typically the banks will delay foreclosure dates if there is an offer in place, but this isn't guaranteed.
Once an offer is in place, NW Negotiations or I will start the short sale negotiations. The average response times on offers is usually 60-90 days in Bend, but can be much shorter or longer in certain situations. Then the banks usually give 30-40 days to close escrow after they've approved the sale.
Sellers need to beware that a short sale is not a guarantee, and the end result could be foreclosure. The banks don't have to agree to a short sale. But we will do our best to evaluate your short sale situation before we list the Central Oregon property. In certain situations, sellers may qualify to actually get money back at closing. While other situations may require that the seller pay a 1st and/or 2nd lienholder money to release the lien.
Please contact Dylan Darling online or call (541) 419-1448 for a confidential discussion on the possibility of selling your Bend are home in a short sale.