Lake Ridge Virginia Real Estate Help For Sellers and Buyers

This has been on my mind for awhile and I want to talk to homeowners who are thinking of selling their homes by short sale. Folks, as your Realtor it is my job to get you the best price the market will allow. That goes for any home I list, not just homeowners who have equity.

Selling your home by short sale is no different that selling your home the traditional way. You must put your best food forward, take care of your home the best you can and hire a Realtor who will market your home, and get you the best price any other seller could expect to have.  What I expect every seller to do is keep the utilities on, and remain in the home until we are able to secure short sale approval. It is your responsibility to keep your home in good repair as best as possible. It is still your home until it goes to settlement and it is your responsibility.

Don't sell yourselves short just because you cannot afford your mortgage! That is crazy!!!!

Beware of anyone who suggests you list your home really low and says "We only need one contract to send to the bank!" The price really doesn't matter the bank will decide how much the house is worth!

Say What?

I have had several inquires from distressed homeowners who are asking questions. People who and who are exploring what and how a short sale is done.  I keep hearing that they were told just to sell it under market to get a quick sale that they only need one offer to start the process!

Yes, a seller only needs one offer, however you want it to be a Fair Market Value

"My take on this is, it serves no one when a homeowner lists their home for a ridiculously low price just to get the short sale process started. In my opinion this is extremely bad advice."

Let's say you did that. You acceped an offer, sent it to the bank, and then months later after everyone has been anticipating short sale approval the bank responds and says we need to sell the home for tens of thousands more or we just foreclose. Everyone looses in that situation. Not only you, but your neighbors, the buyer and the buyers agent, the title company, the loan officer and everyone who worked so hard  for months trying to get your home to settlement.The only person who could possibly benefit is your listing agent who has been getting all those phone calls from buyers who are bottom fishing for a good deal. 

Here is important fact. Anyone can sell a home under market! It is always best to list your home with someone who knows the area well, knows the fair market value in your community and who has a track record of getting short sale homes to the closing table. 

Think about it this way. 

Let's assume your home value wasn't upside down.  The Realtor determines that if you sell your home for Fair Market Value or just a tad below, you would realize a $100,000 profit at settlement.  You would be thrilled. Right? Now just imagine how you would would feel if that Realtor said to you, I think you should just list it for $50,000 under market just to get a quick sale, because it really doesn't matter. My guess is your response to that idea, would be to kick that Realtor to curb so fast it would make their head spin!

There is a better way, and one that you can still hold your head high when you sell.

           Do You Have Questions?  You Can Reach me direct at 703-851-3085 or  contact me by email . 

Contact Peggy James or Erick Blackwelder  of Erick and Company - Exit 1st Choice Realty,14029 Crossing Place,  Woodbridge VA. 22192. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's. 

Short Sales with Saxon Mortgage has proven to be extremely challenging over the past seven months. My file is so thick and I have hundreds of calls documented. Over those months, I Googled Saxon and I've read the bad press. So,if you asked me four even two  months ago about the company I would have had a story to tell.

However, it appears changes are in the works in  Fort Worth,Texas. Because in mid March I was assigned a new Loss Specialist who works for Saxon Mortgage. He is a dream Loss Specialist. He not only answers my email, he follows up with phone calls. He's warm and friendly and knows the process from a lenders point of view. From the time I had a Short Sale Approval Letter in seven days after he was assigned the case. His email says "Global Recovery Specialist". I was a little worried when the letter came in with the wrong name on it ( because the first buyer back out of the contract) I received the revised letter one hour after I sent the request!

So Saxon Mortgage folks if you read this...THANKS!  The distressed sellers are relieved, and the purchasers are excited about home ownership and both Realtors involved know all the hard work they have put in over the months in helping two families attain in need.

Another home saved......

If you need to sell by short sale, don't be shy we are experienced.

Call me 703-851-3085

Contact Peggy James or Erick Blackwelder of Erick and Company/Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's