702-604-7739 - http://www.TheBallenGroup.com - Short Sale Nevada with The Ballen Group of Keller Williams Realty Las Vegas, Las Vegas Short Sale Specialists offering you a daily dose of short Sale Homes in Nevada, Short Sale Service Information, Short Sale Laws, The Foreclosure Process in Nevada, Short Sale VS. Foreclosure and More.
Anonymous comments are disabled
Considering a Short Sale?
- - - - Is your Mortgage FHA?
YOU MAY BE ENTITLED TO $1000 CASH BACK ON YOUR SHORT SALE!!!!Lately,
FHA short sales are a great process. A very specific process has been
established by HUD (Department of Housing and Urban Development) that
is required to be followed when doing an FHA short sale. This causes
the lenders to adhere to specific steps and moves the process along
WHAT IS IT - AND HOW DOES IT WORK?
- FHA requires at least one of the owners to be occupying the home at the time of short sale.
- The seller MUST be at least 31 days delinquent on the loan.
seller must inform the lender of intent and follow appropriate steps
prior to accepting offers on the home. This is the pre-foreclosure
program which allows the lender to order an appraisal. The appraisal
then sets the fair market value of the property. The HUD form 90045 will
state the appraised value and is issued to the seller.
seller has 90 days to sell their home under agreement terms from the
acceptance date into the pre-foreclosure sale program. During this time,
the lender is required to postpone foreclosure proceedings.
- The minimum net proceeds (this would be purchase price minus all closing costs, realtor commissions, liens and judments, etc.) to
the FHA 1st mortgage is based on the time line below. NOTE: EXCLUSIONS
TO CLOSING COSTS: The closings costs paid by the lender SHALL NOT
include a home warranty, HOA delinquent dues, HOA transfer fees or the
water/sewer escrow. The $1000 incentive to the seller may be used for
"As-Is" Appraised Value AND Lenght of Time From Date of Approval:
Less than 30 days = 88% 30-60 days = 86% 61+ days = 84%.
- HERE'S THE BEST PART - According to these guidelines FHA will issue
$1,000 to the seller provided they are under contract AND CLOSE within
this 90 day period! If the seller is under contract during the 90 day
period, but fails to close until after the 90 days, the incentive is
reduced to $750.000.
the event that there is a payoff due to a junior lien holder (such as a
mortgage payoff), FHA will allow up to $2500 to go to the lien holder,
but the seller will forfeit the $1000.
the buyer is using conventional financing, HUD will not pay buyer
closing costs. If the financing is FHA, a maximum of 1% closings costs
will be paid on behalf of the seller. Bidding up the purchase price to
cover concessions will not be permitted. Again, the $1000 incentive may
be used in these cases to achieve the balance required to close.
you might qualify? Would you like to discuss other mortgages and
options for your short sale in Nevada? Would you like to speak with an
attorney for FREE to discuss your options in regards to doing a Las
Vegas Short Sale vs. A Nevada foreclosure? Get your FREE Las Vegas Short
Sale Kit packed full of vital information pertaining to the Short Sale
Process, Nevada Foreclosure, Pros and Cons, Hardship Package
Information and more.
The Ballen Group of Keller Williams Realty Las Vegas
Las Vegas Short Sale Specialists
3100 S. Durango #106
Las Vegas, NV 89117
Home Listing Syndication
Your home can be advertised on websites all across the web, making
sure buyers see your home and everything it offers. Here are some of the
national sites where your home will appear:
About The Ballen Group .
Lori Ballen and her husband Richard Ballen manage a top producing Las Vegas Real Estate Team at Keller Williams Realty Las Vegas on DI and Durango with Debbie Zois and Dave Jenks. As Las Vegas Short Sale Specialists, Lori and her team focus on distressed properties and residential real estate in Nevada.
Lori Ballen is a Mega Agent managing her team called The Ballen Group at Keller Williams Realty Las Vegas. Working with her 10 member team which includes her husband Richard, Lori has created a model for success. Using Gary Keller's Models, she never takes the pedal off lead generation which includes dominating search engines, working the database, managing he team web site, running daily ads, and staying on top of the most innovative marketing strategies such as her use of video. Using these tactics, The Ballen's earned awards in their short career such as rookies of the year AND top agents in the company their first year and many more top achievements in the years to follow.
The Ballen Group is an award winning team specializing in Distressed properties - specifically Las Vegas Short Sales as well as residential real estate in Las Vegas, North Las Vegas, and Henderson.