Conroe – The Stop Foreclosure Institute recently received a question from another agent. Here was her question.

"I have a short sale listed. At what time in the short sale process do you stop accepting additional offers for submittal to the lender? If you accept another offer after you've already submitted one to the lender, does it reset your timeline to the beginning?

Do you just put them in backup position? What about the poor buyer whose offer was submitted and has already been waiting for weeks for lender approval?

Do you allow them to match the higher offer? You guys have so much experience, how do you handle this? Thanks! Diane."

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer. It all depends. We like to stay with the original offer if possible. But, we don't always do that. It all depends on what the seller wants to do.

If the bank is asking for a deficiency or promissory note, then the seller may want to submit the higher backup offers. We run this for the sellers and not the buyers benefit. We feel that it is our job is to represent the seller.

If the short sale lender does not like the first offer, then we will submit the next offer. But, if they accept the first offer, then we recommend that the seller go with that one to honor the first buyer.

That buyer has waited the longest and deserves to be rewarded for their patience. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go through with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on Conroe Short Sales: How Do You Handle Multiple Offers? is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

What buyers should know about compensation, loyalty and shared expectations.

Most real estate agents earn their living by representing buyers and sellers in property
transactions. While commission rates and/or terms vary from one listed property to another,
there’s no question about which agent and brokerage firm is representing the sellers.
The yard sign alone makes that clear.

However, problems can surface on the other side of the transaction if a buyer
(intentionally or unwittingly) does things that lead two different agents to believe
they are representing that buyer.

Examples include:
•A buyer has been searching for homes with an agent’s help. On impulse, he attends an open
house and starts talking to the hosting agent about what kind of home he is searching for,
failing to mention that he is already working with another agent.

• A couple, early in their home search, notice two different houses for sale with two
different agents. They call each agent, asking to see the homes.

In each of these cases, a buyer has demonstrated purchasing interest with more than
one real estate agent. Depending on other details of the circumstances and how
your state defines the way agency relationships are formed—it is possible that
a dispute could arise between agents regarding who should receive a commission if the
buyer proceeds with a purchase.

This is one reason why it’s in everyone’s best interest, including yours, to shop for
an agent before you shop for a home, and to formalize your relationship with a signed buyer
representation agreement. Buyers have nothing to lose, because you can expect a higher
level of service, typically for no additional cost.

In return for providing these services and assisting you with various transaction details,
buyer’s agents expect you to remain loyal to them, making it clear to any other agents
that you are already being represented. Agency relationships are based on mutual consent,
so if your buyer’s representative isn’t living up to your expectations, you can
cancel the agreement.

Most importantly, you should discuss expectations early on.

Each buyer’s agent has their own style and preferred way of working with clients. And each
agent has their own buyer’s representation agreement, outlining their obligations to you and
what they expect in return.

There are also certain things buyer’s reps are not allowed to do for you, such as advise
you on which neighborhoods are better than others in terms of schools, crime rates or
population demographics. Fair Housing Laws state they can only point you to sources of
this information, helping you make your own decisions on these and other matters.

Taking time to discuss shared expectations at the beginning of your relationship is the
surest way to avoid misunderstandings and form a strong partnership—one that allows
your buyer’s rep to serve you to their greatest ability and help you achieve the
best possible result in your home purchase.

Note that not every state requires a signed Buyer’s
Representation Agreement to create an agency relationship. In
some cases, an agency relationship can be formed if both
parties simply behave as if one exists.

The Accredited Buyer’s Representative (ABR®) designation is awarded by the Real Estate Buyer’s
Agent Council (REBAC), a subsidiary of the National Association of REALTORS® (NAR).

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – The Stop Foreclosure Institute recently received a question from another agent. Apparently they were being mislead on a short sale by a large national lender.

Here is the question we received: “Do you have a number to contact Fannie Mae? The bank (Large National Bank) will not allow the seller to not do a short sale and agree to repay the loss on a promissory note.

She said that she has to talk to the investor which is Fannie Mae. My sellers just wants to sell and move on with their life. Janet.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our response. I understand the logic of what your seller is trying to do. They think that they can just sell the home for less thant it’s worth, sign a promissory note for the difference, and move on with their lives.

The sad reality is that life’s not that simple, especially when you are dealing with bankers. Before they make any changes on anything, they want to make sure that everything is ok.

In order to make sure everything is ok, they will have to process the sale as a short sale. That is why they demand before they will transfer the upside down debt to a promissory note.

They always like to keep things at the status quo. Any big changes need to be very carefully evaluated. It’s just the way bankers work.

So, if your seller wants to sell and repay the debt on a promissory note, then they will have to go thru the formal short sale process. It’s the only option that I see. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go through with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on Conroe Short Sales: Bank won’t allow my seller to avoid short sale process is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Traditional Transaction - REO Transaction

Defaulted properties are a sad fact of the real estate market. Mortgage foreclosures are a multiple-step process, presenting various buying opportunities. When a foreclosure sale is not successful, the lender assumes ownership and the property is now called real estate owned, or simply REO. If you are interested in purchasing an REO property, it’s important to understand several distinctions between REOs and traditional transactions.

Seller - is a homeowner or investor who wants the right price, favorable terms and timely closing.

Seller -is a lender, represented by an asset management company, that wants a quick sale at or above a bottom-line price.

Listing Agent - chosen by the seller.

Listing Agent - assigned by the asset manager.

Occupancy - the seller vacates the property on or before closing.

Occupancy - the property may be vacant, abandoned, or in foreclosure limbo; eviction of former owner/tenants may be needed.

Property Condition - sale-ready condition, possibly including upgrades to enhance its value; cash or credit at closing for repairs.

Property Condition - varies greatly. May be at risk for vandalism and damage; possible price reduction to offset repairs.

Contingencies - are negotiable and may include a property inspection, the sale of current home, mortgage approval, or final walk through.

Contingencies - property is offered as-is, where-is. An inspection and final walk through are allowed.

Offers - the buyer offers a sales contract, along with earnest money. The seller can accept, reject or counteroffer.

Offers - the buyer’s sales contract must include proof of funds or pre-approval. The seller can accept, reject, counter, ask for highest and best offer, or make the offer subject to upper management approval.

Negotiations - include price, terms, closing date and contingencies. Goal is to create a win-win for the buyer and seller.

Negotiations - only includes price and closing date. Buyer is looking for a bargain; seller wants a bottom-line price and loss mitigation.

Disclosures - government-mandated disclosures along with a seller’s disclosure.

Disclosures - government-mandated disclosures. No seller’s disclosure, unless defects were found in prior inspections.

Closing - is negotiable; seller may agree to extend. Buyer can specify title company.

Closing - firm closing date, with per diem charged for late closing. Seller specifies title company.

Each of these factors has important implications for buyers. Before proceeding, ask your Accredited Buyer’s Representative to help you understand your options and decide whether an REO purchase is right for you.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – The Stop Foreclosure Institute gets asked this question quite a bit. The answer depends on the type of loan you are looking to use to purchase your next home.

Here are the details on your options to buy another home after a short sale.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Owner Financing. You can buy a home with owner financing anytime after a short sale.

FHA Financing. (FHA is very popular because it only requires you to put down 3.5% and pay your closing costs. You can usually convince the seller to pay your closing costs, thereby reducing your down payment to 3.5% of the purchase price.)

FHA’s current guidelines state that you can get an FHA loan immediately after a short sale, provided that you never missed a payment. If you were in default at the time of the short sale, then you have to wait 3 years before they will approve your loan.

Fannie Mae Loan. Fannie Mae is the most common loan program. You can get a Fannie Mae Loan in as little as 2 years after a short sale. But, you have to put 20% down.

If you wait 4 years, then you have to put a minimum of 10% down. After 7 years, you can get a Fannie Mae Loan and put less than 10% down.

The most attractive (and currently most popular) loan program in America is FHA. The reason is because it’s down payment requirements are much lower than anyone else. It looks like the best option to buy your next home after a short sale. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on How Long Do I Have To Wait After A Conroe Short Sale To Buy Another Home? is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – Are you looking to buy a short sale? Before you make an offer, you need to check and see how competent the listing agent is at short sales.

The listing agent is the agent with the property for sale. They will usually be in charge of processing the short sale with the lender.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

If the listing agent is a genuine short sale expert and knows what they are doing, then you have a very good chance of the short sale being approved and buying the home. I’ll show you how to separate the experts from the pretenders in this post.

If the agent is not a genuine short sale expert, then you are probably wasting your time. You should go find another home to buy.

First, ask them how many short sales they have successfully sold. If they have only sold 2-3 short sales, then the odds are not in your favor. You risk wasting months of time waiting for an answer on the short sale.

Next, ask them how many loans are on the property. If there is only 1 loan, then you know two things. First, they know what they are doing. Second, this is relatively simple short sale.

If there are two loans, then the property is still worth considering. However, if there are 3 or more loans, then you might want to look at another home. Short sales with 3 or more loans are very difficult.

The first mortgage won’t give enough money to the second and third position mortgages. The second and third position mortgages won’t release their lien without more money. At the end, everyone loses (that is another story for another day.)

Lastly, ask who the lenders are. If the lenders are Bank of America, or another notoriously bad lender at short sales, then you might want to avoid the property. However, a competent short sale agent can handle a Bank of America short sale with ease. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go through with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on Questions Buyers Should Ask The Agent Listing A Conroe Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

WHAT IS CLOSING?

Closing (also called settlement) is the legal transfer of property ownership. Usually, but not always, possession is transferred at closing. Sometimes the seller may ask to close the sale but retain possession, and pay rent to the buyer until vacating the property at a later date.

WHO ATTENDS CLOSINGS?

Face-to-face closings are common in most states, although a few states do not require them. Your ABR® can provide details for your situation. The participants usually include:

• You, the buyer.

• The seller.

• The real estate agents representing the buyer(s)  and seller(s).

• Attorneys for the buyer(s) and seller(s).

• The closing agent, the title insurance representative, and the escrow agent. Often one person fulfills all three roles, coordinating and recording the exchange of the documents and money, disbursing funds, and handling various closing details.

WHERE IS CLOSING HELD?

Closings are usually held at a title company’s office. Their job is to confirm the current legal owner of the property, reveal any mortgages, liens, judgments or unpaid taxes on the property, and identify any restrictions that may affect the sale of the property. Any problems need to be corrected before a buyer can receive “good title.”

WHAT DO I NEED TO BRING?

Your ABR® can advise you on what you’ll need to bring to closing, but typically buyers must provide:

• Payment of closing costs

• Proof of insurance

• Approval of inspections of the property

WHAT HAPPENS AT CLOSING?

You’ll sign many documents. Rely on your buyer’s rep and your attorney to review these documents and answer any questions you may have. Frequently-used documents include:

Closing statement (HUD-1) – details all funds changing hands between the buyer and seller

Truth in Lending statement – a final summary of the terms of your loan

Mortgage note – a legal obligation to repay the lender according to stated terms

Deed of trust – the legal transfer of ownership; gives the lender a claim against your home if you fail to meet the terms of the mortgage note

Affidavits – any binding statements by the buyer  or seller

Riders – any contract amendments that impact  your rights

Any additional documents required in your state.

Once all documents are signed and all monies have been paid, possession is transferred and you receive the keys to your new home. Be sure to keep your closing documents in a safe place for future reference. Some of the expenses associated with your home purchase are tax-deductible.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – Are you looking to buy a short sale? Before you make an offer, you need to check and see how many mortgages are on the home.

A short sale with only one mortgage is not that difficult. Even an inexperienced agent can often get these approved and sold.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

A short sale with 2 loans becomes much more difficult. You now have to lenders that have to agree with each other. However, an experienced short sale agent can get the two lenders to agree with each other on the short sale.

However, when you have 3 or more loans and/or liens, everything just becomes way more complicated. Most first mortgages will only give $2,500 to $3,000 a second mortgage on a short sale.

They don’t have any policies in place on what to give a third position mortgage or lien. And that third position lien holder isn’t going to go away for free. Someone is going to have to give them something in return for them releasing their lien.

That third position lender basically has the right to throw a wrench in the works unless they get paid. They can veto the short sale for any reason. They will only go away when they are either paid in full or accept a lower amount.

This is what makes short sales with 3 or more loans so difficult. The first mortgage, second mortgage, and third position lien fight over the available money.

At the end, the first mortgage usually forecloses on the property and the second and third position people get nothing. But, a foreclosure takes a long time and costs money.

At the end of the day, everyone ends up losing more than they would have made if they had simply worked together. This is why we usually avoid short sales with 3 or more mortgages/liens in place. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go through with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on Why Conroe Short Sales with 3 or more mortgages are difficult is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

One-Time Expenses Ongoing Expenses

Appliances - Will the appliances in the home need upgrading—now or in the near future? Don’t forget to check out the water heater and HVAC.

Furniture - Moving from a one-bedroom apartment to a three-bedroom house often means you’ll need more furniture. Evaluate furniture needs and costs for your new home.

Remodeling - Before purchasing a home that needs remodeling, ask a contractor to give you an estimate. Homeowners often underestimate the costs.

Principal, interest, taxes, and insurance (PITI)  - If you have a fixed rate mortgage, the payment will remain the same for the life of the loan. Taxes and insurance may increase.

Homeowner Association Fees - Fees or assessments for a condo, townhouse or single-family home with an association can increase yearly. Compare fees of similar properties line-by-line. Check what the fee includes; for example, utilities gas, electricity, garbage pickup, and water. Watch out for special assessments for capital repairs and improvements to common areas.

Exterior maintenance - Replacing the roof, painting the siding or trim, sealing the driveway, sealing the deck, replacing windows, gutter cleaning or repair, septic and well maintenance are just some of the additional exterior maintenance costs in owning a home. Some jobs you can do yourself, but others require professionals. Don’t forget the tools that go along with home maintenance: power washers, compressors, heavy- duty ladders, and power tools.

Interior maintenance  - If you’ve been renting, your landlord probably picked up the tab for repairs and general maintenance. Once you own your home you’ll be footing the bill. You will need to maintain
appliances, plumbing and electrical systems, carpets, fl oor and wall coverings, and so on.

Utilities - If you are renting, you’re probably used to budgeting for utilities. But the cost of heating a one-bedroom apartment can pale in comparison with the bills for an entire house. A real estate professional can help you fi nd out about the current occupant’s costs but family size and usage impacts those numbers.

Yard care - and snow removal Plan on buying a lawnmower and other landscaping tools or budget for a professional lawn service. Include a snow shovel or snow blower if you live in a cold climate.

Pest control - Depending on location, be sure to schedule a termite inspection before you purchase a home. Purchasing a termite infestation bond may be in order. Even if there is no infestation at the time of the inspection, that’s no guarantee these or other pests won’t show up.

Transportation Costs - Don’t forget to calculate transportation costs whether by public transportation or your own vehicle. Budget for gas, oil, insurance, tires, and regular maintenance. Will you need to purchase another car to take care of all of the family’s transportation needs?

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – The Stop foreclosure Institute recently received a question from Steve about short sales. Here was Steve’s Question.

“I am interested in a short sale. I just have a few questions about how the process works. Does my lender set the price for the property. And, will that price include the realtor fee? Sincerely, Steve.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer. Steve, in most cases the lender will not set the asking price for your home. In most cases, the lender does not get involved until after we have an offer from a buyer.

The only exception is if you have an FHA loan. FHA’s short sale guidelines stipulate that an appraisal be done after the home is put on the market. They required the asking price be changed to the appraised value.

As far as your second question, does that price include the realtor fee? FHA Short Sale Guidelines require the lender to pay your realtor a commission. You don’t have to pay it.

On other short sales, the lender usually pays the realtor’s fee. They know that they will have to pay a realtor when they sell a home after foreclosure. Why not avoid the foreclosure and sell the home now?

That is the logic behind why they pay the realtor’s commission on a short sale. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go through with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on Conroe Short Sales: Will My Lender Set The Price For My Home? is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com