Selling Your Home

click the tab to the left to see just a sample of homes sold recently

 

For most families, their home is their largest financial asset, and deciding to sell it is a big decision that involves a lot of preparation and work. When you're ready to sell it's important to have an experienced real estate professional handle the details involved in the successful sale of a home for top dollar.

As an experienced professional who has helped many Middle Tennessee residents sell their homes, I know how to handle every aspect of the sales process - from strategically marketing and showcasing your home to making sure everything's signed, sealed and delivered by the closing date.

Today's real estate market is very complex and extremely competitive.  That's why it makes so much sense to hire me and my team here at SilverPointe Properties.  We will bring together a comprehensive marketing plan that includes not only print advertising, but internet as well.  Almost 90% of all home searches start on the internet, so a first class, professional, eye-catching campaign is needed there.  I use only professional photographers for all of my listings and provide unique websites to feature great photos as well as a true 360 degree virtual tour.  My homes all are enhanced listings on Realtor.com as well as being found on the other major real estate search engines.  I also place homes on realty related sites such as Trulia.com and zillow.com.  Open houses are a regular staple of the campaign.  We also make up customized home brochures with those professional photographs mentioned above.  Home staging services are available as well.  We are always thinking and working on new ways to get your home as much exposure as possible for a quick and profitable sale. 

Providing you with comprehensive, high-quality listing service is my top priority. So when you decide to sell your home, please contact me and let's get started! by Mike Conrad

The following articles are a great place to start if you're looking for information about the sales process and how you can get more for your home when you decide to sell.

The Basics of Marketing Your Home How to Set a List Price for Your Home
Get Your House Ready to Show Buyers Why Use a Realtor when Selling a Home

 

What is a Short Sale?

What is a short sale? A "Short Sale" or "negotiated settlement" or "short pay" occurs when

a Lender agrees to accept less than the amount owed to payoff a loan as an alternative to

foreclosure. If the property is worth less than the amount owed on the loan, then even if the

Lender forecloses and takes back the property; they know they are going to take a loss. We

can often convince a Lender that they will "do better" if they take less than what is owed now

rather than taking the property back by foreclosure and trying to sell it later.

How long will it take? The Short Sale negotiation process is a lengthy one. It may take

several weeks or more likely several months to get an approval. Many Lenders have several

layers of bureaucracy, insurers, and investors that we will have to maneuver through in order

to get the Short Sale approved. So it is important to be patient during this long process.

But my house is going to foreclosure, will I have enough time? Maybe, maybe not. Just

starting a Short Sale does not automatically stop a foreclosure. However, many times we can

convince a Lender to stop the foreclosure to let us attempt to negotiate the Short Sale. So,

while there are no guarantees, it is in your best interest to try the Short Sale.

Can I stay in the house? The key word in "Short Sale" is sale. The purpose of a Short Sale

is to get the property sold. This is not a program that can stop foreclosure and allow you to

keep the house indefinitely. It will be easier to sell the house if it is vacant, so you should

make plans to move as soon as possible.

How do I know this will work? You don’t. We cannot, have not, and will not make any

promises to you that the Lender will accept a Short Sale. Once you missed a payment, the

Lender is in charge and can proceed to foreclosure if they want to. But we know they do not

want to and we are very good at presenting alternatives to the Lender that they often prefer to

accept rather than foreclose. We are very good at what we do, but NO PROMISES or

GUARANTEES are being made as to whether or not the Lender will accept a Short Sale –

they may or may not.

Will I get any money from the sale? NO. A universal requirement of Lenders granting a

Short Sale is that the borrower will not get any proceeds from the sale of the property. The

Lender is going to take a loss on your loan – they are not going to let you get any money.

What happens if this doesn’t work? Your house will likely go to foreclosure. A Short Sale

is something we try after you have exhausted your other options.

What is the difference between a "RELEASE" and a SATISFACTION? A Release is

where the Lender may offer to "release" its security interest against the property in exchange

for less than the amount of the note. However, the remaining debt on the property is still. A

Satisfaction is where the Lender agrees to accept less than you owe on the balance of your

mortgage as a complete and final "satisfaction" of the debt and the mortgage lien on your

property.

If the Short Sale is successful, it is a win-win situation for all of us. You win because you save your credit from a tremendous hit since a foreclosure will remain on your credit for ten years. This makes buying another house impossible for a long time. And yes, you will have late payments showing on your credit report, but as long as foreclosure does not occur, after twelve months of good rental history, you will be able to get a new mortgage and buy a house once again. We win because once the short sale is approved, and we buy the property or find a buyer for the property and make our profit that way. Bottom line is, if you don’t win, neither do we! The Lender wins because they can dispose of the property quickly instead of holding onto a non-performing asset which in the long run hurts them financially. Besides, the Lender is in the business of lending money not selling real estate.

by Mike Conrad