Roseville Short Sales – The Latest from Short Sale Agent Allan Sanchez
As 2011 winds down, I want to give you the latest Roseville short sale statistics. As a Roseville short sale agent, 2011 saw great improvement from lenders and their short sale process. Three years ago, only about 10% of Roseville short sales listed actually ended up closing. Now, the number of closed Roseville short sales is around 40%.
Total Roseville Short Sales Sold (1/1/11-11/30/11): 497
Average Price of a Roseville Short Sale: $247,000
I’ve worked with many banks including Bank of America, Wells Fargo, Chase, Wachovia, and other smaller lenders. They often improve the short sale process, making it easier to obtain short sale approvals. When I first started selling short sales in Roseville, many homeowners believed they were too far underwater to qualify for a short sale. In the last few years, I’m seeing that’s not the case. Lenders approve short sales no matter how far under value the homeowner is. The banks put much more emphasis on the financial hardships suffered when deciding to approve a Roseville short sale.
Roseville short sales are very different from traditional equity sales. In a short sale, your Roseville short sale agent must be very active and communicative with the bank. For short sale success, agents must:
- Submit a neat, complete, and easy to read short sale package.
- Negotiate with the bank on behalf of the seller.
- Follow-up with the bank regularly (I can’t stress enough how important this is)!
One question that I often get is, “How are short sale agents paid?” There are no out of pocket commissions paid by the seller. Commissions are approved by the bank and come out of the sale’s proceeds. Short sales don’t cost the seller any money. However, Roseville short sale sellers should continue to pay their home’s utilities, property taxes, HOA, and insurance until the home is sold. There are ways around this but it’s best to keep this bills current.
Find out if you qualify to sell your Roseville home as a short sale.
Roseville Short Sales – The Latest from Short Sale Agent Allan Sanchez
Posted by Roseville Short Sale Agent – Allan Sanchez – www.AllansHomes.com
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