Many real estate buyers are aware that there are fantastic bargains available in the real estate market. The huge amount of bank foreclosures has led to a tidal wave of bank owned REO properties which has flooded the market with low priced properties. Astute investors are taking advantage of this situation to scoop up houses at bargain basement prices.
If you are considering investing in bank owned properties then you will need to be a cash buyer. This means that you are required to show “proof of funds” which is usually a bank statement which shows that you have the cash available to purchase the house.
If you don’t have the cash available then you will need to borrow the money from someone that does. If you have a relative or friend with access to cash they might be willing to lend you money to purchase a property in exchange for you giving them a first mortgage on the property. They will effectively become the bank and you will be required to make a monthly payment to them.
There are professionals in the real estate business that make these kinds of loans to people that are not relatives. They are called hard money lenders. The only difference between a hard money lender and a private investor is the interest rate. Borrowing from Aunt Sallie might cost you 8% per year in interest. A typical hard money mortgage in today’s market would be 15% plus 3 points up front.
Why would anyone borrow money at such a high interest rate? Let’s look at an example. Assume that you could purchase a bank owned REO property for $40,000 when the house has a true market value to a non cash buyer of $80,000. Paying 15% interest on a $40,000 loan amounts to a monthly payment of only $500.
Assume that you waited 90 days for seasoning of title and then sold the property to an FHA first time homebuyer for $79,900. Assume that you paid a commission of 6% to the realtor and another 6% to pay for the buyers closing costs. You would still net $70,000 from this transaction. After paying off the hard money lender the $40,000 that you borrowed, you would still be left with a profit of $30,000. Even if you held the house for six month before finding a buyer you would only have spent $500 per month in interest for 6 months. Your total interest cost would only have been $3,000. This would leave you with a net profit of $27,000.
Or expressed another way, using no money down (borrowing all of the money) you could potentially make a profit of $27,000. How easy would it be to sell a house like this to a first time home buyer? The answer is it would be extremely easy. The buyers are putting down only $3,000 (3 ½%) to buy a house with a monthly mortgage payment which is about the same as their monthly rent. You are paying all of their closing costs. And the government will give them an $8,000 tax credit if they purchase before the end of 2009. It is a win/win for everyone. The bank gets to sell their property quickly to a cash buyer. The cash buyer gets to flip the property and make a quick profit and the end FHA buyer gets to own a home for the same monthly payment as rent.
The trick to the above transaction is to find an $80,000 property that you can buy for $40,000. This is the part that requires training, knowledge and experience. Finding deals like this is an art form and the people that find these deals are known as “bird dogs” or “property scouts”.
Many bird dogs sell their deals to cash investors for a small profit. This is known as wholesaling. For example a wholesaler might contract to purchase the above house for $40,000 and then sell it for $45,000 to another cash investor. This way, the wholesaler does not need to borrow money from a hard money lender. The wholesaler simply finds a deal, signs a contract to buy it and then flips the contract to a cash investor for a profit. This is known as “assigning a contract” and the profit that is paid to the wholesaler is known as an “assignment fee”.
Banks do not want wholesalers flipping contracts on bank owned properties. For this reason, banks do not allow assignable contracts. This means that a wholesaler cannot assign a bank owned property to another cash investor. The reality is that there are still ways that a property can be assigned. One way is to purchase the property in a Land Trust and then assign the beneficial interest in the land trust. Another way is to purchase the property in an LLC and then assign the membership interest in the LLC. However the problem with these methods is that the end buyer might not want to have a land trust or an LLC.
For this reason, the best way to sell a bank owned property to another cash investor is to have what is known as a double closing. This means that the wholesaler essentially buys the house from the bank and then simultaneously on the same day sells it to another cash investor. The disadvantage is that the wholesaler will be paying double closing costs.
If a wholesaler has a signed contract and is wholesaling the deal to an end buyer, then if the wholesaler is short on cash they might need what is known as “transactional funding”. Transactional funding is perfect for bank owned properties and short sales that a wholesaler is flipping to an end buyer. Since banks do not allow assignable contracts the wholesaler is going to need to schedule a double closing with the end buyer. Double closings also known as simultaneous closings allow a wholesaler to schedule two back to back closings for the same property on the same day. The wholesaler will need to have a source of funds to pay for the first transaction. This is where transactional funding (also known as same day funds) is needed.
Our company offers transactional funding to all of our Private Mentoring Students. However our students need to schedule both closing with our title company in order for us to offer the transactional funding. We will only offer transactional funding if both closings are with our title company (Independence Title & Escrow).
If you are looking to flip a bank owned property then you will have two contracts and two closings. The first contract is between the bank (seller) and you (buyer). The second contract is between you (seller) and your end buyer (buyer). The end buyer is the person that will ultimately be the long term owner of the property.
Example:
A – Bank B – You C – End Buyer
Assume that you have a contract with the bank to purchase a bank owned property at $40,000 (first contract). This is known as the A-B transaction.
You market this property to your cash buyers and you find a buyer at $45,000. You sign a contract with this buyer with you being the seller and them being the buyer (second contract). This is known as the B-C transaction.
The difference between the two contracts (after deducting closing costs) is your profit which you will walk away with at the closing. Since there are two contracts there are two closings. This means you will pay double closing costs.
The transactional funding fee that we charge is 2% +$495 with a minimum fee of $1,250. For example if you were to request $40,000 your fee would be $800+$495=$1,295. We will only provide transactional funding if you use our title company (Independence Title) for both closings.
Lex Levinrad has been a full time distressed real estate investor since 2003. He has been involved in buying, rehabbing, wholesaling, renting, and selling hundreds of houses in South Florida. Lex is the founder and CEO of the Distressed Real Estate Institute, which trains beginning distressed real estate investors about how to find wholesale real estate deals. Lex specializes in buying foreclosures and bank owned REO homes. Lex offers private mentoring, bus tours, boot camps and home study courses for real estate investors. Lex is an accomplished national public speaker and has shared the stage with some of the countries best real estate speakers including Frank McKinney. For more information about the Distressed Real Estate Institute please visit http://www.lexlevinrad.com or call 800-617-2884.
A Phoenix short sale is one of the rock-solid remedies that you, as a homeowner, can utilize of during a financial squeeze. If you realize that you can no longer keep or afford your home and you are falling behind on your monthly mortgage payments, then it may be the right time to consider a Phoenix short sale. But it is important to note that not all those who are affected by the recession, or any financial downturn for that matter, can sell their homes through Phoenix short sales. The most important thing to bear in mind when trying to negotiate a Phoenix short sale or a statewide Arizona short sale is the fact that the home or the piece of real estate that you will short sale should also be the security or collateral for the loan in which you are falling behind.
In other words, a Phoenix short sale is a form of renegotiating your loan with the bank. Essentially, it is away to avoid foreclosure by selling your home. But a Phoenix short sale is not just like any ordinary sale of your home. Here, you will not get hold of the proceeds. The resulting cash from Phoenix short sales will be given as payment to the bank or any other financial lender from which you owe money. In any type of Arizona short sale, the lender agrees to receive payment that is below the total amount of your loan.
In other words, availing of a Phoenix short sale will result in a discount to your loan. But take note, not all banks or lenders may agree to an Arizona short sale. Typically, financial institutions accede to Phoenix short sales only when there is an economic slow down or slump, which could weigh down on most homeowners who borrowed money from them. While a Phoenix short sale could be perceived as a discount on the part of borrowers, it allows mortgage lenders to recover a big portion – or in rare cases, the total amount – of the loans they lend out.
If you want to take advantage of a Phoenix short sale, you first have to visit your mortgage lender or bank and talk with someone in the loans department. If you and the loan officer shake hands on a Phoenix short sale of your home, you will have to sell your mortgaged home and give the proceeds to the bank or lender. No matter how much cash you have raised on an Arizona short sale of your property, it will all be good enough for the total satisfaction of your mortgage. This is actually the main benefit of Phoenix short sales.
In the end, you should know that a Phoenix short sale all depends on whether the bank agrees to it. After all, what financial institution would want to receive a payment that is less than the total amount due? Conversely, not all borrowers qualify for Phoenix short sales. However, if you do qualify for a Phoenix short sale or a statewide Arizona short sale, you will have a less expensive way of paying off your mortgage compared to an outright foreclosure. A Phoenix short sale also results in a less disadvantageous credit report for the borrower.
Reed Lattin is a Phoenix, Arizona short sale expert who specializes in helping homeowners. If you owe more than your home is worth and need to sell, contact Reed at 602-762-1270 or visit Reed’s phoenix short sale webpage
The main stream media continues to be rich with stories about the struggling real estate market, here in the Sacramento area as well as across the country. They generally revolve around the increasing number of foreclosures, the mortgage crisis and now some of the government programs that may or may not be any help. What I am not seeing is any mention of short sales. In June 2007 I published, “Short Sales: Road to Riches?” to answer some questions I was receiving at the time on my website, www.jalone.com.
Today, the number of short sales in the Sacramento real estate market has increased exponentially and I continue to get calls and emails asking what they are, can we do one, and are they a good way to buy a house?
What is a short sale?
A short sale is when the lender on the property will accept less than the full amount due on their loan when the property is sold. Lenders will accept a lower dollar amount to avoid the expense and time of a foreclosure. Generally a short sale occurs when the loans on a property are greater than what the property can be sold for. The short sale is an alternative for a home owner who no longer can afford to keep their mortgage payments current and desires to avoid foreclosure or even bankruptcy.
Is a short sale a way for me to sell my home?
The easy answer to this question is it depends on your individual situation? Here are the three primary criteria that would constitute eligibility to seek a short sale to avoid foreclosure.
1. The value of your home is less than what you owe. This means if you sold the house you could not get a price high enough to pay off the combined mortgages.
2. You cannot make the mortgage payments and are in default. Generally lenders will not accept a short sale offer if the payments are current.
3. You must be experiencing a financial hardship and be able to provide the lender with documentation that support your inability to make payments or cover the short fall if the property was sold. This means you can’t have assets that could be converted to cash to pay the lender. Some examples of events that lead to financial hardship are loss of a job, divorce, medical situations and death. It can’t be that you have decided to stop making payments because the house is no longer worth what you paid for it.
If your situation matches the above criteria a short sale may be a good option for you to avoid foreclosure and/or bankruptcy but there are other considerations.
Before contacting a realtor to set up a short sale make sure you understand what it may cost you, how it will affect your credit rating and the tax consequences.
Lenders who are willing to accept a short sale offer will insist that the seller, their borrower, not get any proceeds from the sale. A title company will prepare a draft closing statement as part of the short sale presentation to the lender that shows all available proceeds from the sale going to the lender and no cash for the borrower. What this means is that there are likely going to be some selling expenses that will need to be paid for. These may include pest inspections and repair, and other maintenance repairs that need to be completed to satisfy the buyer. Often these can be avoided but now always.
A short sale will negatively impact your credit report. Although there are some industry professionals that say having a short sale on your record is not as bad as a foreclosure they do agree that some creditors looking at your report will not differentiate between the two. Clearly it will leave a large blemish. The good news here is that as more and more borrowers go through foreclosure and short sales the more common it will be on credit reports and the impact less sever.
There may or may not be tax consequences as some lenders will issue you a IRS form 1099 reporting the amount they forgave as income to you. The recently passed Mortgage Forgiveness Debt Relief Act of 2007 may protect you from having to report forgiven mortgage debt as income but it is always best to consult a tax accountant or attorney.
Should we buy a home listed as a short sale?
Don’t be scared off by a short sale property as they may turn out to be a great deal for you. But you should know a few things before deciding to make a short sale purchase.
In a conventional home sale, you generally only need the seller’s acceptance of your offer to go forward with the transaction. With a short sale the lender’s approval is also needed for the sale to close and this can take up to six to eight weeks. Yes, lenders are moving faster today with short sales but there is still a process and most lenders won’t even discuss a short sale until there is an offer to review. What this means is it could be two months before you know if your offer is going to be accepted or worse not accepted.
Pending receipt of a complete short sale package the first thing a lender will do is have the property appraised. They are looking for market value and you cannot expect them to settle for a fire sale price. This is where the listing agent can be a big help for the buyers as it will be their analysis as why the offer is fair in light of current market dynamics that goes to the lender.
Lenders will not approve any requests for repair or provide closing costs to buyers. From their perspective it is an “as is” sale. Often in short sales the sellers, who have been unable to make mortgage payments, have not maintained the property and it may be in need of repair. This may mean a buyers request for repair will be declined by the seller because they do not have the financial resources to comply and are not going to receive any sale proceeds.
Bottom line, be prepared for short sales to take more time and know the purchase will more than likely be “as is” with you making needed repairs after the purchase is closed.
If you are going to make an offer on a short sale property there are some items that can protect and provide you with some sense of how the transaction is proceeding.
1. Make sure your Realtor (now required in California) outlines the short sale contingency terms and conditions. This essentially sets the time frame for approval by the lender which may or may not help.
2. Be sure to include a provision in the contract that allows you to withdraw at any time up until the lender approves the sale. This way you can get out of the contract without penalty if it looks like the transaction has little chance of closing.
3. Request from the seller confirmation of submission of the short sale package and confirmation that the lender has received the package.
4. Even though the sale is more than likely going to be “as is” it is essential for the buyer to conduct a home inspection. You want to know what you are buying and what repairs will need to be made.
5. Make sure there is a pest report and understand the seller may not be able to make Section 1 repairs resulting from wood destroying pests.
6. Be sure to discuss issues and questions with your Realtor before proceeding, preferably someone who has some experience with short sales. I recommend only making a short sale purchase with a experienced and knowledgeable agent. There is too much at risk for you and the listing agent represents the seller’s interests, not yours.
The answer to, is a buying a short sale property right for you depends on your situation. From a buyers perspective there have been some good deals done but they take time, require a level of cooperation not normally found between buyers and sellers, a good realtor willing to work hard and a responsive lender.
A significant issue with short sales is you are dealing with a seller and a lender and often when the transaction fails you are weeks and even months into it before you end up walking away or the lender takes a position you can’t live with. If you are interested in pursuing short sale acquisitions, talk it over with your Realtor and find out if your objectives can be met. If you think it is a way to get a deal, I’d suggest there are much easier ways.
Summary: Short sales have arrived; they are more common today than at any time in the past. Banks are easier to work with on short sales than they were six months ago and sellers who truly have a financial hardship should consider a short sale as an option to avoiding foreclosure. Buyers should not avoid a short sale purchase but must understand it will take more time before they have confirmation the sale will happen. Now the mainstream media needs to share this information with the public.
To learn more about the author, Julie Jalone and her company MagnumOne Realty, visit her website at www.jalone.com where you will find more articles, free home search and her daily blog, Keep it Real in Sacramento
Teaser: With more and more short sales on the market here in the Sacramento area why don’t we see them mentioned in mainstream media more. Roseville Realtor Julie Jalone answers the most common questions about short sales.
Blog: Why don’t we hear more about short sales?
With so many articles and news reports about the struggling real estate market why don’t we hear more about short sales? I wrote my first article on short sales back in June of last year, “Short Sales: Road to Riches?” but still get emails and calls asking what they are, can we use it to sell our house and should we consider buying a short sale house?
If you are interested in short sales or the answer to any of the questions above, check out my latest article, “Short Sale Questions.” We have completed a good number of these complicated transactions in the past year and I am happy to share my experience and knowledge.
I don’t understand your cheerleading on low interest rates: wasn’t it cheap money that got us into this mess it the first place?!? This was a comment I got on my recent post, “Rates Fall – Price Dropped – Broker Agent.” My first reaction was to think, “I’m not a cheerleader.” Then as I started to think about what my reader said I realized I don’t think low interest rates in the early 2000’s were the driving force behind the correction or downturn in our Sacramento real estate market and I don’t believe they will play a significant role in any recovery.
Julie Jalone is an experienced professional Realtor
A letter of hardship is a statement written by a debtor that main goal is to convince a bank or mortgage institution to agree to a short sale of an asset or property. A short sale is the sale of an asset or property for less than the value of mortgage or loan. This sale is a settlement between the debtor and the financial institution that allows the bank to recoup some financial losses associated with bad or defaulted loans. A short sale also allows the debtor to avoid imminent foreclosure. In order to apply for these short sales, the debtor must convince the banking institution of his or her inability to repay the loan or debt. This statement is often made in a letter of hardship.
When writing a letter of hardship, it is important to remember that the primary point of the letter is to convince the financial institution that the debtor, due to certain issues, is not likely to repay the outstanding loan. If the banking institution is properly convinced that the debtor will default on the outstanding loan or mortgage, then they may decide to agree to a short sale of the property or asset. A letter of hardship should be detailed and personal. It should describe the debtor’s current financial situation, listing current income, other loan obligations, and any potential collateral available. The letter should also attempt to explain why the debtor will likely not be able to repay the loan obligation. Remember that the individuals who will decide whether or not to issue a short sale are human. They will be more likely to issue a short sale if the debtor has incurred unforeseen debt or expenses. This unforeseen debt could be related to a death in the family, personal health problems, or any other reason that has led to the unexpected financial stress. The debtor should be honest in a letter of hardship and stress the exact reasons why he or she has fallen behind on their mortgage or loan payments.
It is estimated that loan officers receive forty to fifty applications for a short sale per a day. Less than one short sale is approved for every ten applied for. Oftentimes, a letter of hardship is what separates an approved short sale application from those applications that are denied. The letter should be truthful and personal. There are many real estate companies that offer to write a letter of hardship as part of a short sale package. While these packages are often very professional and the experience of qualified real estate agents is helpful and reassuring, a letter of hardship should only be written by the debtor. This letter should be short, usually under one page. However, there are no set rules. A compelling letter of hardship can often run two or even three pages. The debtor should try to resist the urge to list a set of excuses for his or her current financial situation. Instead, the debtor should focus on concrete reasons for why they have fallen behind on their mortgage or loan payments. Acceptable reasons for falling behind may include the death of a wage earner, unexpected health costs, or the loss of a job. Try to avoid any mention of any unexpected legal fees associated with a criminal defense or personal lawsuit as a reason for the failure to repay a loan or mortgage.
An increasing number of individuals is presently in danger of having their properties foreclosed by their mortgage lenders. This goes to show that the mighty real estate is not spared from the recent world economic crises. In fact it’s one of the most heavily affected. Either as a buyer or as a seller, one is directly hit by the crises. Thus, like any business entity, one is in dire need of a bail-out plan to save such investment.
A handy remedy for this scenario is the real estate’s own-version of a bail-out plan the, short sale purchase.
The Short Sale Purchase mechanism works in way where the existing soon-to-be foreclosed property is sold at a lower value to an interested buyer by the property owner, with the concurrence of the mortgage lender to an interested buyer. It may sound as easy as it is. But there are some considerations to fully consummate the transaction.
The Mortgage Lender, whom the soon-to- be-foreclosed property, is under mortgaged plays a major role in this transaction. For one, it dictates at what price the property is to be sold; it, likewise, determines whether the buyer is qualified to enter such sale transaction; if indeed the buyer is qualified, it further examines whether there are available co-debtors, relative to the remaining balance of the loan mortgage value, since the property will be sold at a lower price than that of the original mortgage value; finally, it will determine whether the property in consideration is qualified for a short-sale transaction.
The property owner, on the other hand, is the initiator of the short sale transaction. At the onset, being the owner, he has to execute a HARDSHIP LETTER to the mortgage lender. Once approved by the mortgage lender, he now acts as the offeror or the seller of the property to any interested buyer. In selling the property, the property owner/seller has to ensure that all terms and conditions, including the price/value of the property should equate with what is approved by the mortgage lender.
The Short Sale Purchase is considered as an of the many easy bail-out remedies for any soon-to-be-foreclosed properties. However, one must not immediately succumb to such mechanism without proper information. Hence, it is always advisable to consult with any real estate professional prior to any engaging any of such transactions.
RealEstateRoadKillUSA.com Fear grips the market and assets are relinquished for pennies on the dollar. At times like these,VULTURES GET FAT For listings of Short Sale transactions that have failed to close after the lender has accepted an offer.
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A short sale happens, when the owner of a property does not have the money to meet monthly loan repayments. Instead of going through the embarrassing process of a foreclosure of declaration of bankruptcy, they opt for a short sale. The reason why this form of a property sale is called a short sale is because the sale proceeds are less than the amount outstanding to the lender.
A short sale can be done only after getting approval from the lender. The amount received by way of sale goes to the lender to pay the outstanding loan amount. Usually lenders opt for short sales, when they feel that foreclosing a property would result in a lot of expenses, which they can save by having this sort of a sale done.
Tips for Sellers
As a seller, check on the following points before you get into a Short Sale:
Be Well-Informed – Gather all information related to the process of a short sale. Find out rules that have to be followed for this process to come out the right way. You should also be aware of the implications of having a short sale done in your credit report.
Prepare the Property – You have to wait till the lender approve of you having a Short Sale. Once you get this approval the next thing to do is prepare the property to handle this. You have to spruce up the interiors and get necessary repairs done, so that those who come to see it will show an interest to buy it.
Get Necessary Documents Ready – You have to get all documents ready to proceed with the short sale. Since you need the lender’s approval first, you have to prepare it properly, stating your dire need for having a short sale. You have to prove that you are financially down and that you are facing extreme hardship as a result of which you want to get the mortgage payments off your expenses, by having a short sale. Find out what property documents have to be ready for submission along with your letters.
Take Guidance - In order to successful carry out a short sale, you need to take help from people such as a real estate agent, a lawyer, accountant and a short sale negotiator. Getting guidance on the legal aspect of a short sale and how the processes goes from such people is vital to having a sale done that give you the right price for your property.
Tips or Buyers
Choose the Right Agent – You need to find the right real estate agent to handle this matter as this is not like a normal sale. In a short sale, the kind of real estate agent you hire must be someone who specialises in such sort of purchases. They should be able to give you a comparative study between the property available on a short sale and other properties in the market and also bring out fault in the property in an objective way.
Get Inspection – When you decide to ho in for a short sale purchase, you have to buy the property in the condition that it is and that why you pay the kind of price that comes with it. This means you have to have the property inspected because at least you should have a decent property or one in which repair costs are bearable. Inspect places such as the roof, sewers, chimney, water tank, septic tank, rooms, and electric wires and so on.
Make a Good Offer – The main reason why a property is put out in a short sale is because it needs to be taken off the hands of the owner, but at a decent price. Therefore, you have to put an offer that is acceptable for both the lender and the seller are seeking. In this regards, you need to check out property prices in the area, the kind of bid that lender and seller are seeking and then think and make the right offer, so that your offer comes through.
Specify the Time Frame – You have to wait till the lender sends approval for you offer. Once it comes through, specify the period within which the deal must come through. You can also state firmly that you will cancel the deal if this does not happen.
You are behind on your mortgage payments and you know that you’re not going to be able to play catch-up before the bank begins the dreaded foreclosure process. If there are no other options for you at this point, you may consider arranging a short sale instead of going through the stressful experience of a foreclosure.
Short sales occur when a homeowner is in default on their home loan, but the property has not yet reached the foreclosure stage. These are sales in which the lender and the owner both agree to sell the property for less money than is owed to the bank.
A short sale can do much less damage to one’s credit rating than an actual foreclosure can. This is a huge benefit for sellers because the black mark of a foreclosure can seriously affect a person’s ability to rent property, obtain credit cards, or be approved for loans of any kind.
In addition, short sales can help a seller to feel more in control of the situation. While it is inevitable that he or she will lose their home, they are pro actively trying to find a solution that will satisfy all parties involved. By taking charge of the selling process prior to a foreclosure, a seller can feel more at peace and empowered during an extremely difficult time.
Short sales also benefit buyers of these properties because they can purchase a home for much less than its market value, and end up with a fabulous property for a steal.
Lenders benefit from short sales because they are able to avoid the foreclosure process, which is both costly and time consuming. They may also get more money from a short sale than they can at a foreclosure auction, and they don’t have to worry about having a house sitting on their lap and losing value every day.
Short sales can in fact benefit all parties involved, but there are many short sales that never reach closing. The main reason for this is that a short sale is a transaction that involves more than just the buyer and seller; the lending company must approve the sale before it can go through.
Getting approval for a short sale is difficult because lenders want to recoup as much of their money as possible. A lender must determine if the amount they are being offered is more than they are likely to get at auction. If they believe they can get more money by proceeding with the foreclosure, they will refuse the short sale.
Waiting for the lender to approve or refuse the short sale can be an exhausting process for everyone. On average, it can take over a month for the lending company to even respond to an offer, which leaves buyers and sellers in a terrible state of limbo. In fact, many buyers walk away from short sales because they can’t take all the waiting and red tape that is involved. After all, a buyer could make an offer, hand over a deposit, wait six weeks, and then have their offer be flatly rejected. Unlike regular real estate sales, lending companies often don’t even respond with a counter offer; they simply refuse the sale, and leave both the seller and the buyer back at square one.
Because the short sale process is not without its difficulties, many buyers don’t feel that it’s worth their time looking at short sale properties. For those who can stomach the waiting involved, short sales can provide a buyer with a great deal on a home, and a positive solution for the seller.
PorchLight Real Estate Group combines local market knowledge with cutting edge marketing skills. For more information on Denver CO real estate or to do a search for Cherry Creek real estate, visit us online at PorchLightGroup.com.
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