Posts Tagged ‘negotiation’

Earlier this week, Jeff got a call to do another Broker Price Opinion on a deserted Home Facing Foreclosure in Northwest Indiana.

It’s sad to note, that some of these properties have been neglected for a long time, with water damage and mold growing as a result.

Surprising that people wait so long and finally abandon their homes. I often wonder when looking at the damages shown by photos…. if the homeowner tried calling a Real Estate Broker experienced in negotiating short sales early in the game….before it’s too late….or even talked to the lender about loan modification programs to get a lower interest rate before their 1, 3, or 5 year ARM (adjustable rate mortgage) came due?

The bright spot in the trip came when he stopped along the way back home and took this picture of a Swan carefully guarding her NEST….there is no doubt she would fuss and fight if anyone threatened to take it away.

An old Proverb came to mind when I saw this photo :

Proverbs 27:8
⁸Like a bird that wanders from her nest,
So is a man who wanders from his home.

If you are behind or unable to make your mortgage payments – call us to discuss possible options.

_____________

Jeff& GraceSafrin “ Spouses Selling Houses” TM

Real Estate Broker / Owners of F.C. Tucker – 1st Team Real Estate one of 32 offices Independently owned and operated affiliated with F.C.Tucker- Indiana’s Largest Real Estate Company (established1918).

If we can help you find a home or land in NW Indiana, give us a call @ 219-405-1232 – we are Full Time Full Service Real Estate Brokers serving Lake, Porter, La Porte Counties.

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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

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