A SHORT SALE IN WESTMINSTER REACHES SUCCESS!

   Westminster, CO - It is very exciting to complete a Short Sale with a successful conclusion for all parties.
We are pleased to satisfy the real estate needs of another client that had to relocate out of state for employment!!
Again, this short sale was not unique in it's own issues in order to obtain a short sale approval from a 1st and 2nd lien holder. They will always have their challenges and we are here to ensure they could worked properly for the benefit of our client!
For more details on this Real Estate Short Sale and more blogs:  Westminster Stop Foreclosure Blog

Review the property details in the video, below!!

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This listing has it's story, and it's tale of success with many entities involved with a Short Sale.

When working with a short sale property you need to discover what liens and lien holders are involved. In this case, we had a 1st with Ocwen and a 2nd with Wells Fargo that was a HELOC.

We were very surprised and pleased that the WF HELCO did not require a promissory note to release the lien. Not all HELOCs will do that!! With our Short Sale team we were to get this done and the 1st lien holder with short sale approvals in less than 90 days.

Stop Foreclosure in Westminster with a Short Sale.

You do learn that not just working with the short sale lenders has it's issues, but then you have a Buyer that must obtain a loan after the short sale is approved by the lien holders.  Remember, the buyer's lender will NOT work the loan until they have received the s/s approvals.  So, we must work within a time frame as agreed upon in the s/s approvals.  Sometimes, that means working to a 30 day closing process!!

Property Inspections for Buyers:

I find it a better situation when any buyer that is serious to work an offer on a short sale, perform the Property Inspection, first, prior to our short sale team working that offer to the short sale lenders for approval.  WHY?  It reduces the time to work the loan process after the s/s lender approvals!!

Since, the buyer must perform an inspection, get it done right up front!!  That way we are not working a buyer with the s/s lenders and once the approval is received, the buyer will NOT walk doing an inspection!

Trust me ... you do NOT want to start the short sale approval process OVER again, after receiving an approval.  This can cause delays up to 8-12 weeks with some lenders!!!
Lender Appraisals:

Now, we must get the buyer's loan appraiser on board!!  In most cases, we usually get an appraisal that satisfies the contractual value in a timely manner.  Lately, we have had a slow time in getting appraisers to accept the orders in a timely manner causing delays in the appraisal.

In some cases, we have had the appraiser create a condition on the appraisal!  Especially, with the FHA loan appraisals.  You do your best to address property concerns at the time of placing a property on the market, but there situations that do not allow for repairs or replacements to take place.  In this case, our Sellers had to relocate out of state for employment.

We had some appraisal conditions that needed to be corrected and a reinspect by the appraiser to satisfy the loan conditions for a Full Loan Approval.  The Buyers took on that challenge and made those necessary repairs, i.e:  some painting and replace some deck boards. 

Another reason for a Successful Short Sale closing!!  We had ALL PARTIES on board to make this happen!   GREAT JOB!!

HIRE A SHORT SALE TEAM THAT UNDERSTANDS THE RULES AND THE EXPERIENCE TO DEAL WITH THE PROCESS OF OBTAINING SHORT SALE APPROVALS TO ASSIST THE HOMEOWNER IN STOPPING A FORECLOSURE!!

Thanks for reading this,  Dan Hopper,
Your Real Estate Advocate:


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Dan Hopper specializes in assisting home owners to avoid Foreclosure in Denver, Colorado. Denver Loan Modification Help, Denver Short Sales. Denver Realtor. Westminster, CO Loan Modification Help, Westminster, CO Short Sales, and Westminster Realtor.

Thank you for reading, "A SHORT SALE IN WESTMINSTER REACHES SUCCESS!"