From the category archives:

Short Sales

Where Does My Mortgage Payment Go?

by Jon Griffith June 30, 2010

This question was prompted recently by a client who had questions about whether or not they needed to be behind on payments in order to qualify with their lender to sell their home short of what they owe.  The simple answer is: “it depends on who the investor is.” Before I comment on the topic, [...]

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Close Of Escrow in the Short Sale World Is A Squeaky Beast

by Jon Griffith April 23, 2010

When a normal real estate contract is written, the buyer requests a close of escrow date, which is typically dependent upon multiple conditions being met.  There are a lot of people involved, a lot of documents involved, and contractual time lines to follow.  Normally, that time frame is somewhere around 30 to 45 days.  In [...]

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Short Sale Follow Through

by Jon Griffith April 3, 2010

As a listing agent specializing in short sales, I have run into many situations that raise red flags throughout the short sale process. One of those is finding out that the home owner isn’t prepared for the commitment involved in pursuing the short sale. When you enter into a short sale listing agreement with your [...]

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The Short Sale Pricing Plan

by Jon Griffith April 1, 2010

Every short sale needs a pricing plan.  Every home on the market needs a pricing plan.  In any market, it’s in the best interest of the home owner to sell the home for the highest possible amount.  In a distressed market, with a distressed property, sometimes there isn’t enough time to “hope” for a higher [...]

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What Do We Do? There’s a Notice On Our Door!

by Jon Griffith March 11, 2010

Yikes.  That’s probably the first thing you’re thinking.  We just received this thing called a “Notice of Trustee’s Sale” and we have no idea what went wrong (“except that we stopped paying our mortgage a few months ago.”) AHA!  That’s the problem.  What’s happened is the bank has taken action to recover the home to [...]

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