People often ask to a Real Estate Agent:

1 - What are the steps involved in doing a short sale?

The first thing that's most important is have a Realtor who has conducted several short sales sell your property. You don't want somebody who is inexperienced too and has never conducted a short sale or who has never actually gone to settlement with one.

The next stage is to get the price proper, get it on the market so that you can get the house sold in as little time as possible. Once you get contracts in hand, submit them to the bank and have a negotiator who works for you to get the property sold and negotiated on your best interests.

2 - Is buying a foreclosure a good deal?

The answer is: it can be. Foreclosures are often priced below the competitive market pricing for the area, but it depends on your individual needs and your circumstances because buying a foreclosure may not make sense for you. It just depends.

We at David Meyer & Associates have some questions that we can-we will ask you and analyze your situation to determine if buying a foreclosure is appropriate for you.

3 - Should I buy Foreclosure or Short sale?

You need to be educated on whatever you purchase whether its either one; a short sale or a foreclosure. A foreclosure is a property that is actually owned by the bank. There is usually more paperwork and red tape to go through, but foreclosures are sometimes the best deals possible in real estate.

An individual seller owns a short sale, but the bank has to give permission before the lower price is accepted and the sale goes through. There is a long list of questions that you should go over with your real estate agent before you make a decision.

4 - Should I Contact an Experienced Real Estate Agent to Help With Short sale before Foreclosure?

You should try to avoid foreclosure at all cost. It will destroy your credit, it will prevent you from buying a house for the next seven to ten years and it will impact other areas of your credit history.

If you start having trouble with your payments, you want to contact a Realtor who is specialized or has successfully conducted short sales as soon as possible. We at David Meyer & Associates have contacts with all of the major banks in the short sale or workout department and we also have professional negotiators on board that will help you through the process to negotiate the short sale for the shortest amount of time in the best and most positive outcome for you.