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Avoid Short Sale Pitfalls
By Art Lee
WHB Solutions, Certified Distressed Property Expert & Short Sales Education
In any short sale transaction ALWAYS run a title report to view all the liens attached to a property. You must account for all liens on a property to qualify whether or not it is a short sale worth pursuing. Not [...]
Top 7 Sources for Short Sale Opportunities
By Art Lee
WHB Solutions, Certified Distressed Property Expert & Short Sales Education
Are you looking to increase your short sale opportunities? If you are, you are doing the right thing as short sales are expected to be around until 2015.
Listen to this podcast from Ivan Choi, a former Bank of America executive, that claims the short [...]
BPOs a Key to Short Sale Success
By Art Lee
WHB Solutions, Certified Distressed Property Expert & Short Sales Education
A Broker Price Opinion, or BPO, is the evaluation and estimation of a property that is typically performed by a local real estate broker. A BPO is more accurate than an AVM (Automated Value Model), which requires no on site visit but provides a [...]
Negotiating Short Sales with Two Loans, Same Lender
By Art Lee
WHB Solutions, Certified Distressed Property Expert & Short Sales Education
Negotiate with only one lien holder is the best short sale scenario, but what do you do when there are multiple liens with the same lender? It has been WHB Solutions experience that negotiating with the same lender can be an advantage depending on [...]
Top Ten Reasons Real Estate Agents Avoid Short Sales
By Art Lee
WHB Solutions, Certified Distressed Property Expert & Short Sales Education
Short Sales are frustrating. This is a fact. After helping hundreds of real estate agents analyze and close their short sale deals, WHB Solutions has always asked why, without our help, they would avoid short sales. Many of the answers that come back were [...]
Cheap Homes for Sale in 2010
Demolishing home values in 2010
By Art Lee
WHB Solutions, Certified Distressed Property Expert & Short Sales Education
Where are the cheapest homes for sale? Investors with deep pockets are picking up homes for 50% of current market value, regular home shoppers are looking for similar deals but do not want to pay all cash or in bulk. [...]
21 Types of Property Liens
February 5th, 2010 No Comments
Why Homeowners Need to Consider Short Sales
February 3rd, 2010 No Comments
There have been so many news articles about homeowners walking away from the financial obligation to their mortgage. In response, there has been a lot of opinions about how these homeowners are not taking an ethical stance and avoiding their responsibilities. The result will be billions of dollars spent by the U.S. government to aid [...]
Approved Short Sale Qualifications
February 1st, 2010 No Comments
The most important activity when deciding to pursue a short sale deal is to determine whether or not the homeowners situation would qualify for a short sale approval. If this task is not done, you could be working on a “dog” deal that has no chance of closing, therefore wasting your precious time you could [...]
Top Ten Tips to Buying Foreclosures
January 28th, 2010 No Comments
The numbers of reported foreclosures nationwide hit 2.8 Million in 2009. The number of foreclosures for sale is astounding and although there are many opportunities to purchase a foreclosure for a huge discount, buyers should be aware of the issues that may come from these distressed properties. Any buyer of a foreclosure should practice sound [...]
Junior Lienholders Held to $3000?
January 25th, 2010 No Comments
If you have done enough short sales deals involving multiple lenders, you will know that the most ideal short sale deal would be one with only one lien holder. When multiple lien holder approvals are required, negotiating a short sale approval can be tricky.
In transactions when there are multiple lien holders and the first mortgage [...]
2010 Short Sale Trends
January 22nd, 2010 2 Comments
If you are a Real Estate Professional, you are hurting yourself by not pursuing short sale opportunities. If you had a previous client in trouble, would you be able to serve them? Would you just walk away and hope you find another client who isn’t in trouble? If you are looking to stay in Real [...]
The Terms of Foreclosure
January 20th, 2010 7 Comments
Total Benefits to Buying a Foreclosure
January 18th, 2010 No Comments
With the number of foreclosures looming around each and every neighborhood, buying one can provide numerous benefits to the home buyer.
Many investors find it advantageous to purchase a home via a lease to own agreement. The reason is because they don’t have to put much money down and it helps to leverage the number of [...]
Tips on Postponing a Trustee Sale for Short Sales
January 13th, 2010 No Comments
Lenders asking for seller contribution for Short Sale Approval
January 10th, 2010 No Comments
We are starting to receive requests from lenders who ask for a seller contribution before a short sale can be approved. This trend is different from the days where a lender would be able to just review the seller’s financial documents to verify that they do not have funds available to contribute.
Is it ever a [...]
