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How Can I Have A Successful Lakeland Fl Short Sale?

How Can I Have A Successful Lakeland Fl Short Sale?

“How can I have a successful Lakeland Fl short sale?” This is what most short sale sellers ask all the time.

Here are some basic tips to a successful Lakeland Fl short sale.

 

Successful Lakeland FLShort Sale1. Accept only realistic offers for your Lakeland Fl short sale.

If you submit a lowball offer, your lender will most likely reject the offer, since they are already losing money when they approved to sell your home as a short sale in Lakeland, Florida. Lenders weigh the cost of a foreclosure against short sales. If the loss on accepting a low offer for a Lakeland Fl short sale is greater than the cost of a foreclosure, then the lender will more likely pursue a foreclosure than a short sale.

2. Work with a qualified Lakeland Fl agent to negotiate with the bank on your behalf.

Never fall into the wrong idea that your lender will always have your best interest in mind. Their main goal when reviewing short sales is to minimize their losses. There’s a reason why the department your agent will be negotiating with is called “loss mitigation” and that is to limit the bank’s losses. Only your Lakeland Fl short sales agent and you have your best interests in mind.

3. Never be involved with inexperienced short sale agents and scams.

There are a lot of agents and scammers attempting to do short sales in Lakeland Fl but do not really have the experience or knowledge to do Lakeland short sales correctly. Having an experienced Lakeland Fl short sales agent working with you will help you have a successful short sale and avoid foreclosure.

 

4. Maintain your home and keep it attractive.

Some homeowners wrongly assume that since they won’t be getting any profits from the Lakeland Fl short sale, they should not spend on maintaining or repairing their home. This kind of thinking will only do more harm than good to you Lakeland Fl short sale since a home in bad condition or that needs lot of repairs will result in lower offers or even none at all, and this may leave you ending up in foreclosure. On the other hand, a well-maintained home in good showing condition will attract more buyers and multiple offers, resulting in a bidding war and possibly an even higher offer than your list price.

5. Be a proactive seller. Lenders require many documents in a short sale process. The requirements may vary with each lender, but there are some documents that are a standard with every lender. Having all this information ready in advance will help you move the Lakeland Fl short sale process faster. Prepare your hardship letter, financial worksheet, at least two bank statements, current pay stubs, and other information your short sale bank may require. Lenders process thousands of short sales not just in Lakeland Fl but in other states as well and don't have the time to run after you for an incomplete file. Providing all information on time will help the lender process your Lakeland Fl short sale quickly.

 

Following these steps will help ensure that you sell your Lakeland Fl short sale successfully. For up-to-date information about short sales, please click here.

Authored by Petra Norris 

 

Petra Norris - REALTOR®, SFR
Managing Broker - CDV TransAtlantic, Inc.
 
CDV TransAtlantic Inc
(863) 619-6918
 
Lakeland Florida Home Search
 
3 commentsPetra Norris • November 23 2013 09:13AM
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