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Selling homes as-is is becoming more and more widespread through the U.S., in large part because of the many benefits it has for homeowners beyond just stopping foreclosures. In San Diego, we have seen many homeowners finally find peace of mind once they decided to sell their home as-is. However, many homeowners were concerned that selling a house under the “as-is” name can negatively impact the resale value, and shrink the pool of potential buyers.

These are all very legitimate concerns, but the truth is that when done well, selling your home as-is does not impact either the resale value or the potential buyers available. When purchasing homes, some of the most important factors that people look for are location, configuration of the home, and price. None of these factors are negatively impacted by as-is sales, and are often predetermined by the house itself.

Of course this is not to say that a house has never been negatively impacted by an as-is sale. As with all home sales, it is important to make sure that the sale is handled professionally and courteously in order to guarantee a smooth transition. We found that as long as the price is fair, and everyone is honest about the home’s condition and history, there is no problem with selling the house. Most home buyers are educated enough to understand that they can still do inspections, and know that “as-is” is no longer a term associated with money trap homes, which is something that it was once associated with.

Selling homes as-is has come a long way, but of course can vary from city to city and state to state. If you would like more detailed information about selling your home as-is in your area, give us a call today.

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Many people ask me whether we made a mistake in our company name, Short Sail Solutions. The answer would be no. Short Sailing is to signify completing a short sale like a short sail (sail –> breeze -> streamlining a short sale).

Short sales have certainly become more streamlined mainly due to a national increase in understanding the process and nature (lenders, servicers, buyers, sellers, and agents) of short sales and also through the contribution of government intervention and policy changes in government sponsored enterprises. However, short sales are still a challenging task and in order for homeowners and agent’s to minimize problems and maximize results, let’s explore 8 ways on how to streamline your Short Sail.

*Information from agbeat.com & kcmblog.com

  1. Setting Expectations. Set expectations prior to starting the short sale. Thoroughly understand the situation and the objectives. Clearly define what the short sale process will entail and the motivation and cooperation it needs to get one completed.
  2. Collect short sale package documents at the listing appointment.
  3. Title examination. Have the title officer run a Statement of Information/a preliminary title when the listing is taken.
  4. Accurate and on time document submissions. Make sure you submit all requested documents to the lender/servicer on time.
  5. Communicate often with all parties. Keep the lender/servicers and all other parties satisfied by following up with them and making sure everyone is on the same page. Keep pressure.
  6. Meet the BPO/appraiser at the inspection. Make sure they are obtaining an accurate value of the listed property. Having to deal with value disputes after the inspection can delay the sale.
  7. Escalate to higher authority when needed. If you don’t already have a designated person you work with within each bank, make sure you are escalating to a higher authority to help you move forward.
  8. Be organized. A short sale involves a lot of documents. Make sure they are organized or my recommendation is to use short sale programs that are available to help you organize all docs online.

Short sales can be a breeze if you continue educating yourself on how to do it. We are based in Washington State. Let us know if you have any questions or comments by writing them below or email me at Peter@seattleshortsaleblog.com

Hope this helps

Peter

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