Jenn Davida

  • Home
    • Giving Back
  • Meet Jenn
    • Why Choose Jenn Davida
    • Selecting A Realtor
    • Testimonials
  • Buying a Home
    • Browse Homes
    • Communities
    • Get Pre-Approved
    • Mortgage Calculator
    • Military Benefits
    • Luxury Inventory
  • Selling A Home
    • Staging Your Home
    • Staging Photos & Video
    • Home Value
    • Luxury Marketing
    • Video
  • Short Sale
    • Do I Qualify?
    • What to Expect
  • Contact
  • Blog & More
    • Videos
    • Newsletter Sign-up
    • Daily Reports
    • Market Insights
CALL ME

Giving Back

One Closing At A Time

Learn More

Military Benefits

Valuable benefits designed to help service members and their families.

Learn More

Short Sale

Short Sale

Since 2007 Jenn has been successful in guiding her clients from uncertainty to clarity on how to complete a short sale. She has valuable advice to pass along along with concrete wins for her clients.

A short sale is a privilege, not a right. Don’t make assumptions. Get the facts and hire a certified short sale specialist to manage your short sale. All consultations are free & confidential with Jenn.

      • The worst thing any homeowner in financial distress can do is to stick their head in the sand or in the clouds and hope that the home and loan issue will just go away. It won’t.
      • If you have muttered, “We are letting the house go”, “The bank will take it back”, “It’s too stressful”, “But we have money in our savings” or “The bankruptcy will take care of everything”, then you do not have all the facts.
      • “Letting the home go” is not a strategy nor a simple process. It is forfeiting your rights and allowing an already stressful situation to linger verse cutting it off.
      • The nightmare of nasty calls, tons of mail, processors at your door, the looming “foreclosure” on your credit, the stress of not knowing when it will be over can be addressed head on with less effort than you might imagine with a true specialist by your side.
      • Just because you started or completed a bankruptcy does not mean the clock started to begin ticking on when you may qualify on a loan to buy another home. Learn why.
      • There is no cost or out of pocket expense for the seller. All commission is negotiated as part of the short sale.

 

“It is possible to successfully manage a short sale, and
begin rebuilding your life.”

Talk to Jenn about Short Sales today!

Jenn’s Role In A Short Sale


Determine the Type of Short Sale

There are many types of short sales, from Fannie Mae HAFAs to regular, non-GSE HAFAs to a traditional short sale, and a few more in between.

Manage the Paperwork

Gathers the required paperwork and submits the short sale package to the bank. Sometimes agents outsource this part of the process or they might hire a third-party to negotiate the short sale.

Price the Short Sale

The price needs to be attractive enough to entice a buyer to wait for short sale approval, but high enough to satisfy the bank’s Broker Price Opinion (BPO – the bank’s requested assessment of the Fair Market Value of the home).

Put the Home on the Market

The agent must submit all offers received to the seller. Some offers will be lowball offers because buyers don’t know any better.

Negotiate the Short Sale

Sometimes sellers will hire a lawyer to do the short sale, but often it’s the agent who negotiates with the bank on behalf of the seller.

Submit the Short Sale Approval Letter to the Seller

Most sellers want a release of liability and no deficiency to do a short sale. State laws tend to govern the terms in the approval letters. Note: Sellers should always get legal and tax advice before completing a short sale.

SIDEBAR

What is a short sale?

A short sale is a property that sells for less than the balance owed on its mortgage/s.

A short sale can be on a home, an apartment building or even vacant land.

A Short Sale is a Privilege, Not a Right

Not every property qualifies as a potential short sale in a bank’s eyes. To qualify as a short sale property, the owner must demonstrate financial hardship. What is Necessary for a Short Sale?

Most short sale transactions are handled by real estate agents who specialize in short sales. There are 4 essential ingredients to a short sale; however, strategic short sales, those without a hardship, are also possible. What makes a short sale work are the following:

  • An underwater home – The mortgage amount owed on the home is greater than the current market value.
    A willing short sale bank – A bank that is willing to accept a short sale.
    A seller with a hardship
    A buyer willing to purchase the home

What Role Do Real Estate Agents Play in a Short Sale?

Some real estate agents throw homes on the market that will never close as a short sale, that’s because the agents do not always qualify the short sale sellers. Some agents place unrealistic price tags on the short sale, which the bank will never accept. It is wise to choose an experienced short sale agent who has closed at least 100 short sales.

Your Real Estate Solution Newsletter

Join today to receive a monthly e-newsletter that is sure to be packed with fresh and relevant information!

Search the Largest
Collection of New Homes

Blog Categories

Quick Search

Local & National Participation

  • Certified Luxury Home Marketing Specialist

  • The Institute For Luxury Home Marketing Member Seal

  • St Pete Chamber

  • Florida Realtors

  • Aaron's House

  • Pace

  • American Cancer Society

  • Aspca

  • BigCatWildlifeRescue

  • Realtor

  • Hope

  • Susan G Komen

  • PascoStandDown

  • Pinellasrealtor

  • Westpasco

  • Westpascocc

  • Asap

  • Connectionsjobdev

  • Vw

  • Dali Museum

  • CDPE

  • Mrp

  • Gold Writiting Grey Block Large PNG

  • Verternas_Alternative

  • WPBA LOGOS

Reviews on Zillow

4069339

“Jenn did such a great job taking care of selling our house. Any questions or concerns we had she made sure she was right on top of them. I would … more “
5.0/5.0
by user12524789

4067467

“Having lived and traveled all along the east coast the last 12 years I moved to Saint Petersburg only a few months ago. It’s the one place that felt … more “
5.0/5.0
by Johanna Schrott

4060407

“Jenn was very knowledgeable with the downtown St. Pete area. She was able to tell us a lot about the neighborhood around our future home. She was … more “
5.0/5.0
by rpdesimone08

Communities

St. Petersburg

South Tampa

Trinity

Pasco

North Pinellas

Beaches

Luxury

Waterfront

Golf Communities

New Construction

55+ Communities

Foreclosures

© 2021 Jenn Davida · Real Estate Solutions · Powered by Local Real Estate Solutions