What is a Short Sale?
Short Sale and Short Sale Negotiation
At first, the short sale process can seem complex and intimidating for home buyers and sellers alike. Not only is it a transaction utilized as a solution to help homeowners with economic hardship, it involves negotiating with numerous parties to find common ground. While a short sale does require several steps and can take some time to complete, we can clear up some of the confusion. With iShortSale, any short sale or short sale negotiation becomes straightforward, resulting in the best possible outcome for all parties involved.
What Is a Short Sale?
A short sale occurs only with the approval of lenders when they agree to sell the property for a lower amount than its outstanding mortgage balance. At first glance, this might seem an unusual option. However, it can benefit all parties involved if done properly.
Facing foreclosure can be a challenging time. Selling your home for the entire value of the mortgage might simply not be possible. In these cases, a short sale can prove to be the most beneficial path of action. iShortSale works with you to deliver the best possible outcome so you can avoid foreclosure.
You may want to consider a short sale if you:
- Owe an amount on your mortgage greater than the value of your home.
- Are currently facing hardship that may be long term.
- Cannot obtain eligibility to modify or refinance your mortgage.
- Have fallen behind on mortgage payments.
- Have not had success in selling your home at a price that covers your remaining mortgage.
- Have found you can no longer afford this home.
- Find yourself in pre-foreclosure or foreclosure.
Short Sale Negotiation
hile a short sale can be the best option for both the lender and homeowner, the process requires a fair amount of negotiation. iShortSale is here for you in this case, working to generate the best solution for all parties involved. But how exactly do we help you get an optimal outcome for your short sale?
Catching Any Problems Before They Arise
Since the short sale process can be long and complex, it helps to have a team of experts on your side. iShortSale helps you avoid any of the following problems, dealing with them to keep the process running smoothly.
- An incomplete file sitting at the bottom of the pile
- Speaking with different people during each call to the mitigation department
- Foreclosure happening before your file is looked at
- Difficulty proving substantial evidence of your hardship
iShortSale works to handle all of these for you, instead creating win-win situations for both you and your lender. With our team of experts and an established network of real estate professionals, we can facilitate efficient, timely, and effective short sale negotiations
Crucial Points for Short Sale Negotiation
At iShortSale, we understand the ins and outs of short sale negotiation, working tirelessly to ensure an optimal outcome. Below are some of the critical aspects of a successful short sale negotiation.
- Obtaining key contact info of the lender negotiator (name, phone number, email, etc.)
- Understanding the bank’s objectives and goals
- Staying persistent and working with higherups (e.g., a supervisor) to keep pushing forward
- Preparing a case stated in strong terms with clarity for the bank to understand
- Working to obtain every agreement in writing
- Keeping records or notations of conversations, including dates, times, and names
- Pushing to receive a timeline
- Calling and initiating contact at the times most likely to reach a representative
Contact iShortSale Today
At iShortSale, our goal is to help you avoid foreclosure and all the negative effects that come with it. Contact us today to learn more about the benefits of having our team on your side to avoid foreclosure. We look at every aspect of your situation to engage in a fully-informed negotiation that has the highest chances of a result that benefits both the homeowner and the lender while avoiding the hassle and negative effects of foreclosure. Call iShortSale today to learn more.