That Every Real Estate Professional Should Know
There is no doubt that short sales are an integral part of the real estate marketplace, or that there will be short sales in the future. The basic tenets of the process have been around for a while, but with the rash of foreclosures and the ever-increasing desire (not to mention political pressure) for lenders to allow modifications or short sales, it is more important than ever that the real estate professional be equipped with the knowledge necessary to assist their clients and customers through the short sale process.
This course focuses on the following topics:
- What Is a Short Sale
- Putting it Together
- Qualifying the Buyer
- Title & Follow Up
- Short Sale Reality
- Stepping into a Short Sale Process
- Government Help
- Stepping into a Lender’s World
- Legal Face of a Short Sale
Upon completion of this course, you will be able to:
- Qualify the seller to see if the seller is a candidate for doing a short sale, and knowing the right questions to ask, going in.
- Collect the appropriate documents from the seller.
- Qualify the buyer.
- Determine how the Settlement Statement should look, and how you can help a title company understand what you need.
- Follow up with the lender through the process and asking the right questions.
- Understand closing.
- Learn what it means to be a “distressed” homeowner and what a “distressed” home means.
- Understand the difference between foreclosure and a Short Sale.
- Define the most misunderstood concepts like “the parties to a Short Sale Purchase Contract” and the parties to a “Short Sale transaction”.
Approved States: CO