Short Sales Portland OR

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1. What exactly is a short sale?

It simply means that the lender agrees to accepts less than is actually owed on the home or property.  In this way the home is being sold below the amount of debt owed and in many cases this is below the home value.

2.  Will lenders always agree to a short sale?

Not always as it must make sense to the lender and there may be multiple offers.

3.  Do all properties qualify for a short sale?

No. This will really depend upon the seller's situation and how much is owed and how much money is owed.  Also if the homes value is too high than a low or "short offer" will not likely get accpeted as the bank will feel they can do better through a foreclosure and sale.

4. Is there a difference between a foreclosure and short sale?

Absolutely.  It is imperative that you know the differences.  There are many advantages for an individual who is successful in the short sale process.  It is critically important that homeowners know the difference between the two actions and how it effects them.

5.  How can a QUALIFIED real estate agent help?

An agent who is experienced in short sales understands:

* The foreclosure process
* Who qualifies for a short sale
* Can explain the customers options
* Has the resources to effectively list the property
* Knows how to price the property correctly for a short sale
* Can create the appropriate short sale package for the lender
* Can submit the package
* Understands the approval process
* Knows the difference between lien satisfaction and total satisfaction

6.  Who pays the Listing Agent and Selling Agent?

The lender generally pays both agents involved in ther process.  Having success with a short sale can be a difficult, frustrating and time consuming process.  Get an agent who understands the process involved at the start.

7.  I've given up, I know my home is going to be foreclosed on!!!

Wrong attitude....you owe it to yourself to call us.  Don't get foreclosed and suffer 10 years of damage to your credit when a short sale process can get you back on track more quickly.  You also need to understand your rights and we have some referrals to legal council and short sale negotiators that can keep the bank in line and help you get through this.  There are a lot of people suffering through the stress and sleepless nights created as a result of loosing a home.  Get out from under if you need to but don't wait.  Call either of us at 503-799-8383 for a confidential discussion of your situation.

8.  Can a short sale really work?  Yes we are helping sellers all of the time and many of our buyer customers are really just getting great buys in this market.  There are not as many short sales in Portland and the three county area but there are quite a few and more coming in every day.

This is a process.  It can be difficult but we can help you.  Buyers and Sellers have huge gains to make in this process.  Call us and find out what we can do for you!

503-799-8383 Dirk Knudsen

503-969-6193 Todd Knudsen

Here are a few automated maps that we have set up to keep you current on the short sales that are coming up every day in some of the more popular areas of Portland, Oregon and the Metro Area:

Hillsboro,Oregon Short Sale Map: Click here to see Hillsboro Area Short Sales right on our maps!

Aloha, Oregon Short Sale Map: Click here to see Aloha Area Short Sales right on our maps!

Some Short Sale Advise:

Read the Full Article Here:

http://rismedia.com/wp/2009-01-15/homeowners-urged-sell-short-refinance-but-try-not-to-lose-your-home/

Every day, more people slip into the foreclosure whirlpool and spiral downward toward the day they may have to leave their home. What should you do if you are on the verge of getting a foreclosure notice?

First and foremost, industry specialists say, you should resist the natural human tendency to freeze up. Face the issue head on and prepare for days and weeks of making phone calls and corresponding with people who may be able to help.

“Don’t assume it’s too late to act,” said Ralph Roberts, a consumer advocate in Michigan and co-author of Foreclosure Self-Defense for Dummies. “As long as you are residing in the home, you probably have some opportunity to keep your home.”

Roberts, a Realtor who lost his home to foreclosure back in the 1970s, said people facing foreclosure have more avenues to pursue than they might realize-certainly more than the typical “pay up or move out” that many people think is their only choice.

Potential solutions include:

- Negotiating a modification of the loan.
- Refinancing the loan.
- Listing the home through an agent for a possible “short sale.”
- Selling the home to an investor on your own.
- Declaring bankruptcy.

Short sales-in which the lender agrees to take less than is owed on the home, writing off some or all of the loss to avoid the expense of a foreclosure-typically are handled by real estate agents, which at least takes some of the pressure off of a harried homeowner. Many professional real estate agents are working more short sales these days and have buyers lined up looking for bargains, though the process can be slow and frustrating.