Short Sales in Jacksonville-Seller Qualification

This is where we come in! We conduct an in depth short sale consultation with you the first time we meet and before we ever list your
home.

Your current financial situation matters. Are you able to make your payments? Are you experiencing a true hardship? We have to see
your complete financial picture and prepare a package for the bank with much of the same information that you would need to get loan
approval to purchase a new home.

Whether you qualify to short sale your Jacksonville home or not comes down to several factors. For example, if your current loan is
FHA they are looking to see if you are in default as a result of an "adverse and unavoidable" financial situation. They note that adverse
and unavoidable financial situations may include but are not limited to verifiable income reduction, job loss and extensive medical
expenses.

If after looking at your situation, we do not think that you will obtain ultimate short sale approval from the bank if we can obtain a good,
quality contract, we will not be able to help you with a short sale. If this happens, which is rare, we will help give you some ideas of
other avenues you may try.

We do a realistic, in depth analysis of what your home is really worth. You have to price your home aggressively, but it must be in line
with the market. You can not put a $250,000 price tag on a home when all of your neighbors have recently sold for $500,000. Not only
is this sure to receive a "reject" stamp at your bank, but it is absolutely misleading and will only lead to ultimate failure. We have to be
able to justify your contract price to the bank and show them why your short sale is a much better deal for them than foreclosing on the
property and selling it themselves. If the home remains unsold then we make regular price decreases just as the bank would do in a
foreclosure situation. Our pricing record is part of showing the bank that the contract is at market price.

What most people don't realize is that the qualification of the offer we get from your buyer is one of the biggest factors in whether you
will ultimately obtain short sale approval. Every offer you get on your Jacksonville short sale will not be good enough! Some offers may
be downright ridiculous. A big part of our job is to identify the point we need to negotiate the offer to for it to have a reasonable chance
of acceptance by the bank. It is not a good idea to take your home off the market for an offer that has no chance of bank approval. You
will lose valuable time and move closer towards ultimate foreclosure. While we can not guarantee that a bank will agree to release the
lien for a good offer, we know the formulas and calculations to make sure your contract is in the range of acceptability.

The offer that will qualify also depends on the type of loan you have. Do you have FHA? VA? Conventional? The contract price has to be
at a different level for the different types of loans.

There are also often "nonsense clauses" written in by the buyer's agent in offers for Jacksonville short sales that have to be dealt with.
These are clauses in which the buyer is able to lock you into the deal, but the buyer has no obligation to follow through. Which is why
we call them nonsense clauses. When this type of clause is in your contract, the buyer can literally buy another house right under your
nose while your home has been set aside for them and other buyers haven't considered it because they know that there is already a
contract on it. They are paralyzing you, but retaining the right to act themselves.

Jacksonville short sales are a lot more work for what is usually less money for the agents involved. In spite of this, we have made the
decision to help homeowners with short sales, because we never want to see anyone lose their home through foreclosure.

Fill out the form below to get started today. We will meet you to discuss your situation and help determine whether this may be a good
option for you.