Short Sales in Jacksonville-FAQ About Short Sales

What Is A Short Sale?
A short sale is when the bank agrees to release the lien on your home and allows you to sell the home for less than what you owe
them.

I've heard that Short Sales are never successful, is that true?
No. While there are never any guarantees, when done correctly short sales have a high probability of being successful. A lot of factors
go into the success of your short sale. Your agent (who should always be a short sale specialist!), the buyer's agent, the buyer, the
offer, the title company, your bank...all of these are factors that go into making a short sale successful. Part of our job is educating the
other parties on the process and pulling everybody together to make things happen.

How do I know my Jacksonville Short Sale will be successful and I won't go through everything for nothing.
The simple answer is you can't know that. If anyone tells you it's definite, they are not being honest. This is why you should only hire a
Jacksonville Short Sale Specialist if you are facing foreclosure. Your agent has to be educated on the process and know how to
successfully complete the transaction this will greatly increase your chances of success. This is too important to "give someone a
chance" or to let someone "wing it."

How much do I have to pay you to do my Jacksonville short sale?
Our commissions are paid by the bank out of the proceeds of the short sale when your home closes. There is no retainer. There are
never any upfront fees to get started on your Jacksonville short sale. There is no obligation to pay us if you are not able to sell your
home. We lose money if we are not able to sell your home, which is why we are only able to take homes that we think will ultimately
sell. In addition, we will not charge you a penalty of any kind if your situation changes and you are able to keep your home.

How do I put together a short sale package for my bank?
We do that for you. We handle the details for our Jacksonville short sale customers and clients. We collect the information we need
from you when we list your home. There are items we will need you to update on a monthly basis until your home sells. We put the
short sale package together for you, there is nothing for you to do except provide information as soon as it's requested.

How long will it take to start the process?
We can help you get started immediately. We need to schedule a consultation, and assuming you have everything together, we can
list your house the same day and get started with the short sale process. When you are facing foreclosure, it's important that you act
fast. The short sale process can take a while and there is no guarantee that the bank will stop the foreclosure process even after we
have submitted a complete short sale package with a great offer! Although we always request banks delay the process, some banks
will proceed even while they are sitting on the short sale package and we are waiting on them to issue their agreement to release the
lien. Every day you wait decreases your chances of success.

Do you treat your Jacksonville short sales like regular listings or is there a lower tier of service you provide.
We treat your listing like we would a normal listing for a straight resale. We put multiple pictures in the MLS system and run our
intense, high-level internet marketing campaign. We know that as a short sale it is even more important for you to sell quickly than a
straight resale. We treat you as a priority.

I've heard that my bank may ask me to sign a note, is this true?
Yes, this is true. The bank may ask you to sign an unsecured note for the balance, or some portion of the balance in exchange for
releasing the lien. This is a negotiation that will occur between you and the bank and you are always free to say no. Even if they
approve the short sale as it is without a note, some banks will offer you this option in exchange for positive reporting on your credit
report.

Will a short sale hurt my credit?
Yes. However, if you have been late on your mortgage, your credit is already damaged. All of the information we have indicates that it
hurts your credit less than a foreclosure and the recovery is faster. In a short sale, it is generally reported to the credit bureaus in a
manner that indicates that it was a settlement for less than the full balance owed. A foreclosure is a foreclosure. We are hopeful that
as short sales increase there will be changes to the scoring model that reduces the penalty for short sales, but we have no information
that this has happened or that a change is imminent.