Posts Tagged ‘hb 1359’

Hasty and Sweeping Generalizations about Short Sales are illogical.

We are Listing and Selling them in reasonable time frames.

With cash deals, some Short sales are closing even quicker than regular listed properties!

Just depends on the lender, cooperation of the seller, qualification of the buyer, and on the experience, knowledge and tenacity of the REALTORS handling the transaction:)

Below are several Homes For Sale in Northwest Indiana that are subject to lenders approval of a Short Sale.

To read More about Short Sales Check out these previous BLOGS about our experiences in getting them done and then give us a call.

Short Sales are Not a Game.

Some Short Sales in Northwest Indiana Real Estate Are Getting Done Quicker & Easier !
Indiana HomeOwner’s facing Short Sale – A New Law that may help!

Short Sale tips that Helped us.

Porter County, Indiana -Valparaiso, IN 46383 Home For Sale – Offer Subject to Lenders Approval of a Short Sale

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La Porte, Indiana – LaPorte, IN 46350 Home For Sale – Offer Subject to Lenders Approval of a Short Sale

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Starke County, Indiana - Bass Lake Area Home For Sale – Offer Subject To Lenders Approval of a Short Sale

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Knox, Indiana 46534 – Fixer Upper Home for Sale – Offer Subject to Lenders Approval of a Short Sale.

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It’s been several years now since we have taken and sold listings of homes for sale that are

” Subject to Lenders Approval of a Short Sale” .

The process of getting these to close successfully has been, for the most part, becoming easier.

Perhaps it is from lessons learned along the way & doing the footwork and homework upfront before even agreeing to accept the listing and put a ’short sale’ home on the market.

Lately, however, articles in major publications i.e ‘Fewer Short Sales Come Up Short’, point out that the part of the short sale process we do not control – the loss mitigation departments of lenders - are being more cooperative and responsive about getting short sales done.

In Indiana this year, a new law…HB1359 has helped bring answers to short sale offers within a 30 day time frame.

Since we’ve noticed this change in NW Indiana short sales….we are even accepting short sale referrals in our market area now from other Real Estate Brokers as a result. Just last week we closed on a short sale that was a referral from another REALTOR.

The lender complied with the new state law and the home closed 29 days after the offer was accepted by the lender! (59 days total from day of written offer).

Total Market Time on this Home = From For Sale Sign Up to signing the closing documents = 81 days in all. This is a relatively short market time for any home in NW Indiana, let alone a short sale property (where 3rd party negotiations, communications and many requirements above and beyond the usual and customary offer to purchase can lengthen the process of getting the deal closed

With cooperative sellers, saleable property and reasonable lenders, short sales in NW Indiana are closing easier & quicker than in years past

Thanks for stopping by and reading our Blog about Life in NW Indiana, The Housing Market, Communities, Local Sports, Events, attractions & more @ NorthWestIndianaRealEstateBlog.com

 Sincerely,

Jeff & Grace Safrin,  Broker / Owners

F.C.Tucker 1st Team Real Estate – Independently Owned & Operated

13 Lincolnway Suite # 203,  Valparaiso, IN 46383          Office # 219-309-9930