Friday, April 25, 2014

Myrtle Beach Short SalesSuccessful Myrtle Beach short sales often depend on how the proposal was made and presented to the lender. Getting the lender to approve of a short sale is quite tricky and sometimes difficult, requiring a lot of time and effort from the buyer. However, this is the most important part of the sales process. Without the lender’s approval, the sale won’t go through. If the seller has more than one mortgage on the property, you as the buyer will have to impress all the mortgage lenders in order to purchase the house.

To ensure the lenders’ approval, your Myrtle Beach short sales proposal should consist of the following aside from your application form and authorization letter.

  • Specific purchase price agreed by you and the seller.

When getting the approval of lenders, there is no room for offers and negotiations. They won’t allow you to make offers or negotiate. In fact, they wouldn’t be impressed if you asked them if they would take a large amount of dollars for the short sale for the property. They would be more impressed and more than likely to approve your proposal if you specified a reasonable amount that you would be able to pay without difficulty. Keep in mind that having the mortgage paid off along with the interests owed to them is more important to them than selling the property in a higher amount.

  • Evidence of the seller’s incapacity to continue paying for the mortgage

In order for the lender to approve a short sale, he or she must recognize and believe that the seller is no longer able to continue paying for the mortgage. You and the seller should be able to prove to the lender – through your proposal – that there is no other way to save the mortgage loan – and the lender’s money and profit on the property – other than a short sale.

Some of the documentation you can include as evidence are a hardship letter from the seller, where he or she states the current situation he or she is in, divorce papers, delinquent accounts, state of bankruptcy, repossession of property and other assets, bank statements, and disconnection letters from utility providers.

  • Copy of the property’s appraisal

If the appraisal reveals a low value for the property, include it in your proposal. If not, you can consider a broker’s price opinion if it says the house is worth less than the loan. Your goal here is to show the lender that reselling will not be an option as the property’s current value will not satisfy the amount owed to the lender.

To support your statement, include proof that holding on to the property longer would only cause the lender to lose more money. You need to establish to the lender that the only option left to save the loan is to approve the short sale.

  • Costs and liabilities in maintaining the property

Before taking into account the possibilities of Myrtle Beach short sales, lenders will often try to keep the property and look at other options. And you don’t want this to happen. So you need to make the lender realize how much it would cost him to keep the property. Again, the goal is to show the lender that the only option to make money out of the property is through a short sale. You can include photos of the areas of the house that need repair as well as estimates of the repairs.

Contact Jerry Pinkas Real Estate Experts now for more information on Myrtle Beach short sales.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-222-1926
www.myrtlebeachshortsaleteam.com

Your partners in successful Myrtle Beach short sales.

Myrtle Beach Short SaleToday’s housing market is brimming with possibilities for a Myrtle Beach short sale. Despite these possibilities, a short sale transaction is bound to be long and tiring. Although the process has been improved over the years, it can still be exhausting and frustrating especially if you don’t know the ins and outs of the transaction.

Here are 10 easy steps that will help you close the Myrtle Beach short sale in no time:

  • Look for potential short sales.

Instead of honing on the properties listed as a short sale, look for those that are at risk of being foreclosed. To do this, you can search online courthouse listings and look through legal ads. Alternatively, you can also seek a real estate agent who can serve as your buyer’s agent to help you look for potential short sales in the area where you want to buy.

After identifying potential short sales, find out how much debt the homeowner has on the mortgage and compare this with the home’s approximate value. Keep in mind that you are looking for a home that is high mortgage debt and a homeowner who most likely will not be able to pay off the debt and will have difficulty selling the house to repay the mortgage loan.

Also, include in your assessment whether or not the homeowner has equity that can be used to pay the loan. This information is not readily available so you or your real estate agent may have to do some digging to be able to obtain these details.

  • Visit and take a tour of the property.

Once you have shortened your list of potential short sales based on its costs and mortgage, take time to visit each property that was left on your list. While touring the property, take note of its physical state and find out whether or not it needed a lot of repair.

You need a home that needs a lot of repairs to decrease your competition in buying the property. Most average buyers will think it is too expensive to pay for a cheap pre-used home only to find out that they will have to spend money on the necessary repairs.

  • Conduct some research on the property.

Find more about the property including how much it was bought for the first time and the changes in its value. Also, if you can, verify the total amount owed on the property and confirm whether or not there are additional mortgages on the property. This is especially important if you know you’re not going to hold onto the house for longer and plan on selling it in the future.

  • Obtain information on the liens and mortgages.

Aside from the basic details and financial background of the property, you also need to know more about its liens, mortgages, and lenders. You can ask the seller or the seller’s agent to get these details.

  • Plan how you will be able to pay for the property.

Once you have all the information that you need, work with your real estate agent on how you’re going to be able to propose an irresistible financing payment scheme to the primary lien holder. Keep in mind that in a Myrtle Beach short sale, you need to move quickly to be able to gain approval from the lenders involved. Once they approve of your proposal, it will be easier to close the sale.

  • Find the right person to speak with.

After preparing and finalizing your proposal, you need to be able to find the right person to speak with about the short sale. Directly negotiating with the decision- maker will make things much easier; although finding the right person is quite difficult. To find the decision-maker, it is suggested that you contact the loss mitigation department or the resource recovery department of the primary mortgage lender.

Don’t forget to get an authorization letter from the seller or the homeowner to prove that you are a potential buyer of the property. This will tell the seller that you need to discuss buying the house and the mortgage situation.

  • Complete the required short sale application from the lender.

Most lenders require short sale buyers to complete an application. Find out whether or not the lender you are negotiating with requires the same thing. If so, get a hold of the application and complete it.

  • Complete all other necessary requirements.

There may be additional requirements from the lender. It’s important that you have completed all necessary requirements and documentation so that you can present everything on your second meeting with the lender. Again, you need to move fast to close the sale quickly.

  • Negotiate with the lender.

After presenting your completed requirements to the lender, it’s now time to negotiate the purchase price. Be prepared, as the lender will most likely have a counter offer to your proposal. Work to compromise with the lender. If you feel that your needs are not being met, keep in mind that it’s alright to walk away.

  • Close the deal.

When all parties agree and are happy with the arrangement, you need to put everything into writing. These should be officially recorded and signed by all parties involved. Make sure you give each party a copy of the contract and if possible, ensure that they understand each term in the agreement.

Give Jerry Pinkas Real Estate Experts a call now for more Myrtle Beach short sale tips.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-222-1926
www.myrtlebeachshortsaleteam.com

Your Mmyrtle Beach short sale professionals.

Myrtle Beach Short SalesBuying homes under an unpaid mortgage is a good investment and it helps to know a little more about Myrtle Beach short sales before going through the process. You will need to learn everything that you can about this form of real estate investment especially since there are currently a lot of homes listed as a short sale.

A short sale happens when the homeowner is no longer able to continue paying for the property’s mortgage and the lender agrees to sell the property at mortgage payoff amount. To be able to remove the delinquent debt on their books, the lender will accept a lower amount than what the homeowner actually owed. The remaining balance will be forgiven as long as the mortgage amount has been paid.

Myrtle Beach short sales can be a hit or a miss

There are three key players in a short sale transaction: the buyer, the seller, and the lender. They can be affected by the process in varying ways:

A short sale transaction can be a hit or a miss for a seller, depending on how one looks at the situation. By choosing to sell his or her property as a short sale, the seller or the homeowner loses his chances of making some money out of the sale. On the other hand, when the property is purchased, the seller can walk away from the house without any remaining unpaid debts, although without money to help in moving to another house as well. Even though it will not badly damage the seller’s credit, a short sale transaction will still be recorded on his or her credit report.

Buyers benefit from short sale transactions considering the amount of money they saved from the purchase. On the other hand, the amount that they saved will most likely be spent on repairs and renovations. For some, this can be depressing since the reason they went after short sales is to save money. But for others, they look at it as an opportunity to personalize the house and make it their own. This is especially true for those individuals who like to purchase pre-owned houses and make some renovations to add their personal touch.

For lenders, they will lose some of their profits and this is probably the reason why they don’t instantly turn to short sales when one of the homeowners becomes delinquent in paying their mortgage. On the other hand, when compared with the financial loss that they will surely receive when the property forecloses, most lenders would gladly choose to approve a short sale.

When do Myrtle Beach short sales become a miss?

According to real estate experts, there are two situations when a short sale is certain to fail.

  • If there has not been any notice of default yet. If the homeowner has not received a notice of default, it means he or she is not that far behind the payments and would still be able to catch up. Should this be the situation, a short sale is not recommended as it will take a longer time to get the approval of the lender.
  • If the seller has already filed for bankruptcy, there is not a chance a short sale will ever happen. Short sales are, in some ways, not allowed in bankruptcies as they are considered a collection activity. As a result, lenders will not approve a short sale for a seller who has filed for bankruptcy.

Should you consider buying short sales?

The discounted purchase might be enough to convince you to pursue a short sale transaction. However, there are other benefits that you could gain as a buyer of short sale properties:

  • The lender may offer financing terms since they will be more than happy that the mortgage will continue, even though they will most likely not earn as much profit.
  • The seller will be willing to work with you to push the transaction through because he or she is eager to get away from the debt.

If you decide to proceed with a short sale transaction, hiring a real estate agent is highly recommended. Short sales are complicated and time consuming real estate transactions and you would definitely need all the help that you can get.

Aside from hiring a real estate agent to help you go through a short sale transaction, it also helps to know the primary reason why lenders will agree to a short sale. Since they are bound to lose money in a short sale, most lenders do not immediately agree to such a transaction until they are sure that they have exhausted all other possible solutions that wouldn’t cost them as much money.

But if you know what will make a lender agree, it will make the entire process less difficult and move in a faster pace. You will have to understand that the primary goals of lenders in every real estate transaction is to earn money or not lose too much of their profit. Hence, you might need to point out that by allowing the property to get foreclosed, lenders will have to go through a costly and equally lengthy foreclosure process. As a result, they lose their profits as well as a whole bunch of their money.

Even if they managed to maintain ownership of the property and not lose their profits, they are still bound to lose money in maintaining the house and paying for its taxes.

Basically, lenders look at short sales as the lesser of two evils and they will grab the opportunity to go through it rather than lose both their profit and money.

Give Jerry Pinkas Real Estate Experts a call now to learn more about Myrtle Beach short sales.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-222-1926
www.myrtlebeachshortsaleteam.com

Your Myrtle Beach short sales expert.

Short SaleA short sale often consists of complex and lengthy processes that require months to complete. Despite this, many homebuyers still choose this type of real estate transaction because of the immense savings that they will get. Because lots of individuals are considering buying houses through this process, Freddie Mac has developed a program that makes short sales transactions faster and easier.

This new program aims to provide better benefits to borrowers and increase profits for the property owner and seller. The new process is more streamlined without the traditional obstacles that a homebuyer and home seller go through.

Here are the benefits of Freddie Mac’s shorter short sale process.

  • Servicers are allowed to approve applications from financially challenged homeowners including those who are past due and are current on their mortgage payments. This eliminates the need for the mortgage insurance companies’ review of the applications and applicants. Reviews often take weeks to be completed as mortgage companies have other responsibilities that they are primarily committed to.
  • In this new process, servicers are required to make decisions 30 days after they receive a completed application. They are allowed another 30 days should they need more time in case there are third parties involved. No more extensions, however, will be offered. Hence, they are expected to give their final decision at the 60th day.
  • Communication is an important part of every type of transaction. This is why Freddie Mac has greatly improved communication in the process. Weekly updates are submitted by servicers to keep borrowers and realtors informed throughout every step of the process. Acknowledgment must also be submitted after every application and form has been received.
  • The new process is more streamlined because of the improved communication and specific time frames. Borrowers are given updates regarding the status of their application and where in the process it is currently at. They are also provided a number to call to inquire about their application.

Before deciding to go through a short sale, find out if this real estate transaction is really for you. Consider the following points to help you determine whether this process suits your needs:

  • Have you exhausted all retention options to resolve your upcoming foreclosure?
  • Are you looking to leave your home and unpaid mortgage loan balance without damaging your credit history and report?
  • Do you want to move on to a more affordable housing without worrying about your previous loan balance and debts?
  • Do you need to leave your current home and relocate as soon as possible due to your employment?
  • Are other options such as loan modification, forbearance, or reinstatement not suitable to your needs and situation?
  • Do you want to sell your home so as to cover your unpaid mortgage debts and outstanding balance?

Should you decide to proceed with a short sale transaction, contact Jerry Pinkas Real Estate Experts now to assist you.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-222-1926
www.myrtlebeachshortsaleteam.com

Your short sale experts.

Short SalesIf you are considering a short sale process for your home, it is highly recommended that you work with a real estate professional. On the other hand, finding the best property agent to work with you in selling your house is definitely going to be difficult. The primary reason for this is because you need to hire someone who has the necessary experience in this specific type of real estate transaction. The agent should also have sufficient networking connections to accelerate the selling process.

Considering the number of real estate agents offering their services everywhere, it will not be as easy to confirm whether or not they have experience with short sales. Here are some tips to help you with this:

  • Ask them if they have undergone the necessary training for this type of real estate transaction.

These real estate transactions are, indeed, more complicated than the traditional way of buying and selling houses. Keep in mind, though, that an agent who went through training is not necessarily the best agent you should hire. The training cannot be considered as a valid experience. You will at least know who among the many agents you are thinking of hiring made an effort to master this trade.

  • Find out if they have handled a short sale in the past.

Ask the real estate agent whether or not they have experienced short sale transactions in the past. It is extremely important that you verify their answers and find out if their transactions are still listed, under contract, or already closed. Bear in mind that every transaction is different, especially with the banks and financial institutions involved in the sale. Hence, the more experience the agent has, the wider his experience is. It’s not only about the number of transactions they were able to close. It is also about the variety of transactions they have gone through.

  • They have prepared a marketing strategy

Skilled real estate professionals have most probably experienced marketing this type of property transactions. Marketing makes a big difference in accelerating the process of selling any real estate property. This is why it is highly advised that you hire a property professional with a solid marketing strategy for your home.

Lastly, always remember that the real estate agent you will hire is not only highly experienced but skilled as well. The agent should also be able to work with you and provide for your needs.

If you want more of these tips, contact Jerry Pinkas Real Estate Experts now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-222-1926
www.myrtlebeachshortsaleteam.com

The only short sales professional you need.

Myrtle Beach Short SalesDid you know that buying Myrtle Beach short sales has lots of benefits for both the buyer and the seller? Through a short sale transaction, the buyer is able to purchase a house at an affordable price while the buyer is relieved of his or her mortgage debt burden. Aside from this, the mortgage lender is also benefited since he or she will no longer have to worry about going through the process of foreclosure and reselling the property.

The only drawback to this type of real estate transaction is that it has low approval rates as some mortgage lenders prefer for the homeowners to pay for their debts instead of selling the property at a lower price. There are also some mortgage lenders who would insist on having the homeowners pay for the remaining balance on their debts that are not covered by the short sale purchase.

Another drawback is that it could take several months for a short sale transaction to be completed. You as the buyer will have to go through months of negotiating and chasing after the mortgage lender, especially if the mortgage lender is insistent in getting all his or her money back from the mortgage loan. These lenders will hold up the short sale transaction for as long as he or she could while waiting for a better offer to arrive. If he or she has exhausted all available and potential options, then he or she will finally approve of the short sale.

Considering all the hurdles that you may face when purchasing Myrtle Beach short sales, you will need the following three tips to help you succeed:

  • Hire a real estate lawyer
    Because this will probably turn out to be a complicated sales transaction, you will need to hire a professional real estate lawyer to help you handle the negotiations legally. More specifically, a lawyer will help you negotiate the terms of purchase with the seller and the lender. Additionally, you need a lawyer to ensure the title of the property is clean and that there are no other hidden debts associated with the property.
  • Ensure you look at both the seller and the mortgage lender
    Because the short sale process will surely take several months to negotiate, why not do your part and make things easier? Make yourself look good to the seller and the mortgage lender by getting preapproved for a loan. Make the mortgage lender want to sell the property to you by proving you are able to pay for the short sale. You can do this by preparing putting down as large of a down payment as you possibly can and showing you have no contingencies while placing your bid.
  • Do not give up
    There are a lot of reasons that can prevent a Myrtle Beach short sale from happening. The mortgage lender and the seller may not agree on the terms of sale or you may find that the terms of the lender are not reasonable. These may hinder a successful short sale even if you hire the best real estate lawyer and realtor.

For more information on Myrtle Beach short sales, call Jerry Pinkas Real Estate Experts now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577
843-222-1926
www.myrtlebeachshortsaleteam.com

Your Myrtle Beach short sales experts!

Myrtle Beach ForeclosuresBecause of the current state of the economy, there is a continuously increasing number of Myrtle Beach foreclosures that you can consider for your home purchase. This trend in real estate investing has been continuously going on as the economy continues to recover. In fact, many property investors have been featured in many television shows for their ability to flip foreclosures and make lots of money.

Would you continue to be left behind in this financially beneficial venture? It’s never too late to join with the trend and start making money simply by buying and selling foreclosures.

If you have decided to pursue with this venture, you need to acquaint yourself with the different Myrtle Beach foreclosures that you can consider for investing.

  • Homes in pre-foreclosures

Some homes that are about to be foreclosed can be considered for purchase. Their owners, after having received a foreclosure letter, will put the houses for sale. The reasons why these homes are about to be foreclosed range from divorce or death of the owners. You will need to inquire about the particular reason so you know how to negotiate the property and come up with an offer that will be beneficial to the owners and to you as well.

Often times, owners of these Myrtle Beach foreclosures opt to sell their homes at lower prices to avoid foreclosure and save their credit ratings. You can buy directly from the sellers or you can buy from courthouse auctions where you can choose from a wide range of foreclosed homes. The downside to this, however, is you will have to compete with professional real estate investors.

  • Foreclosed homes that need repair

While there are foreclosed homes that are as good as new and don’t need repairs or renovations, there are homes that need a fair amount of remodeling. Sometimes these homes are offered at very low prices leaving you with enough money to renovate and fix the house. Consider where you will be spending more money on: buying a low-priced foreclosed home but requires renovation or buying a good as new foreclosed homes at a much higher price. Keep in mind that the house you will be investing on should look good appealing to your buyers so you can flip them easily and quickly; thereby, giving you smooth and easy profit.

  • Real estate owned homes or those that have already been foreclosed

These types of foreclosed homes are those that have not been sold at the auctions. They become listed with realtors; hence, are called real estate owned homes. They are often offered at 5%-10% below the retail rates and are already fixed and repaired. So you will still make money from them should you sell them at the current market price. This is why most first time homebuyers and real estate investors opt to buy these type of foreclosures because they can be bought at a low price and they don’t need to spend time and money in repair and renovations.

For more information on Myrtle Beach foreclosures call Jerry Pinkas Real Estate Experts now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC
843-839-9870
myrtlebeachshortsaleteam.com

Your Myrtle Beach foreclosures experts!

Myrtle Beach Short SalesBuying Myrtle Beach short sales is not like your average property resale. Although it has its own benefits and advantages – specifically to an end buyer, first time home buyer, property investor, it can also be challenging at times. So, you will need all the help that you can get.

If you are looking to buy a home for a great price, there’s no other best option for you than to buy short sales properties. With the current economic conditions, a constant number of homes are going under foreclosure. Hence, you have lots of great houses to choose from.

Here are some useful tips to help you in purchasing your first Myrtle Beach short sales property.

  • Secure a pre-approved mortgage
    Once you have decided that you want to invest on short sales properties, the first thing you need to do is to seek a highly experienced real estate agent and mortgage broker that you can work with in securing a pre-approved mortgage. Having a pre-approved mortgage to support your short sales purchase will make you look more credible to purchase and maintain the property. Plus, this will give you an edge over those other potential buyers.
  • Study the prices of comparable homes in the same area
    Together with your real estate agent, make a comparative market analysis on the selling prices of houses that is similar to the short sales property you are considering buying. This will help you determine whether or not you are making a reasonable offer on the property. Moreover, this will become an important tool that you can use when negotiating the property.
  • Inspect all areas of the short sales property and take note of all the necessary repairs
    Repairs and renovations are inevitable in a Myrtle Beach short sales property. Although you have to be financially prepared for these repairs, you can actually use these to your advantage, particularly when negotiating for the price. Take note of all the necessary repairs and have a professional constructor estimate a quote on how much all the repairs will cost. You can either use this to get a discount on the total purchase price or you can split the estimated costs with the seller. Your real estate agent will help you plan how to use these repairs to your advantage.
  • Spend time in making a title search
    To protect your rights as a buyer as well as your hard-earned money, do a title search and find out whether or not there is no other mortgage or unpaid debts on the property. You also have to check for tax liens and mechanic liens just to ensure that there will be no hidden or unresolved problems when the title is transferred to you.

Buying a short sales property can be tricky so you have to equip yourself with sufficient knowledge and professional support from real estate experts.

Call Jerry Pinkas Real Estate Experts to learn more tips in buying Myrtle Beach short sales.

Jerry Pinkas Real Estate Experts.
604 N. 27th Ave
Myrtle Beach, SC
843-839-9870
myrtlebeachshortsaleteam.com

Your Myrtle Beach short sales experts!

Myrtle Beach ForeclosuresAmong the hottest type of real estate property that more and more investors prefer are Myrtle Beach foreclosures and bank owned properties. Although these properties usually require substantial repair, they are sold below market value.

How could you buy foreclosed or repossessed homes?

Foreclosed homes can be bought through a public bidding. Once the properties have been repossessed by the bank, the financial institution will schedule a public bidding where investors and buyers submit their bids on the properties.

Although the process is much faster and it is quite easy to find great deals on Myrtle Beach foreclosures in a public bidding, you as a buyer should be prepared to provide the complete amount of your bid to the auction house within 24 hours of accepting your bid.

Properties that were not sold on the public bidding will remain in the possession of the bank and will now be referred to as real estate owned or REO homes. You can find a list of these properties from the bank’s loss mitigation department or via your local realtors. If an REO home has caught your eye, you will need to submit your purchase offer or bid directly to the bank. Otherwise, you can choose to negotiate with the bank’s representing agent.

Here are some important things that you have to keep in mind when buying Myrtle Beach foreclosures:

  • You must have a preapproved financing before submitting a purchase offer. This is among the first things that banks look at to determine whether or not you have the financial capability to pay for the property.
  • If this is your first time to purchase a foreclosed property, it is highly suggested that you hire a realtor or real estate investor to work with. These professionals will make it easier for you to find affordable foreclosed properties that are still in good condition. They can also assist you in making negotiations and landing a great deal on the foreclosed home that you want to buy.
  • Keep in mind that foreclosure experts and REO specialists have easy access to many multiple listing service databases. Through their assistance, you can gain access to information on the price, total area, number and types of rooms, and the size and location of the lot that you are looking to purchase without having to visit the property in person.
  • If you don’t want to hire the services of foreclosure professionals, you need to allot sufficient time in researching about the properties that you are looking to purchase. To help you make an admirable purchase offer, you will need to increase your knowledge on the past and present property values and their growth through the years.

Buying foreclosed homes should not be a burden. If you have found that house that you want to purchase, focus all your energy and efforts into landing on a great deal for the property.

For more information on Myrtle Beach foreclosures and bank owned properties, call The Jerry Pinkas Real Estate Experts now.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC
843-839-9870
http://myrtlebeachshortsaleteam.com

Your Myrtle Beach foreclosures experts.

Myrtle Beach Short SalesThere are evidently a growing number of Myrtle Beach short sales available in the market today. More individuals are looking to buy these types of property investments as they are priced much lower than other real estate properties. The only drawback to this investment is that it is very confusing and can take several months before going through. Hence, if you are a first time short sale investor, you definitely need all the help you can get.

With that said, below are some of the most important aspects that you need to consider when purchasing Myrtle Beach short sales.

Number of loans and mortgages the seller has on the house

When the real estate market is booming and home values are on the rise, it became easy for homeowners to secure second mortgages or home equity loans.

Finding out the number of mortgages on the short sale property you are looking to buy as well as the amount of mortgage that is due will help you plan the most appropriate and reasonable offer to all mortgage lenders and the seller. Make sure that your proposition will make it difficult for the mortgage lenders and the seller not to say no.

Additionally, this will also help you plan for future costs and expenses. It will give you a clearer picture on the property’s mortgage situation, thereby, allowing you to effectively plan and ensure you will land a good short sales deal.

Negotiation with the seller’s or the homeowner’s mortgage lender and bank

The bank and mortgage lenders are key players in a Myrtle Beach short sales transaction. They are the ones who will provide the final decision, which may be difficult for them to make as they would have to accept a loss in their profits.

Most often, sellers hire short sales attorney to negotiate with the bank or mortgage lender. This is time consuming and requires frequent legal and financial communication with the bank. Hence, a professional short sales lawyer is the best candidate for this task. Others, however, leave this task to the listing agent. Whoever is negotiating with the bank, it is important that you keep yourself updated of their progress and success rate.

Buying short sales is indeed an ultimately financially rewarding investment. On the other hand, you need to be very careful to ensure you will not waste your time, money, and effort.

Contact Jerry Pinkas Real Estate Experts for more information on Myrtle Beach short sales.

Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC
843-839-9870

The only Myrtle Beach short sales professionals you need.

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