Greater Cleveland Real Estate Blog

Short sales in Cleveland may be smooth and nice,

and we've got numerous proves to this. Few of our short sales in Mentor, Mentor-on-the-Lake, and other Greater Cleveland neighborhoods went so good that you would never tell the difference between these Short sales and normal, regular sales.

Actually, we've just closed another Short sale deal in Mentor yesterday. I am really happy for my clients, the sellers, and I wish the best to the new owners who purchased a wonderful home in a great condition for a very attractive price.

I like to analyze the successful closings because they create a pattern and raise the bar for the future sales. I  don't consider myself a real master of the short sales but I work on doing as good job for my clients as it's possible. Analysis of successful sales helps a lot. So, what makes a successful short sale?

  What makes a successful Short sale:

1. Seller's understanding of a situation: timely consultation with a Short sale specialist can protect you from horrors of foreclosure.
2. Sellers' ability to fight their own fears. Fears feed procrastination. Procrastination leads to late decision to seek an advice from a Short sale specialist, then - See #1.
3. Seller's cooperation in dealing with the lenders. If the lender asks you about any proof of income, or any detailed statement, or letter of hardship - just do it! Give it to them. Don't think that they forget. If they ask for it, they need it. Even if it looks unreasonable and stupid.
   
4. Real Estate agent who knows how to deal with the short sale negotiations.
5. Real Estate agent who is patient and polite and firm enough to make it happen.
6. Real Estate agent who knows how to market short sales. Marketing includes a right pricing strategy, it also includes an ability of a Short sale listing agent to keep you, the owner, motivated and enthusiastic about keeping the property in a salable shape.
7. Good buyer who understands what the Short sale is and who is ready financially and emotionally to wait for an approval for a while (sometimes for a long while) and, upon getting an approval, start acting quickly and consistently to close timely (usually it's 30 days upon approval).
8. Good buyer's agent who has an experience in dealing with this kind of situations and who can patiently educate her clients. I was lucky to partner with Gina Miller from Prudential Select Properties in our last Short sale in Mentor,  who was just great.
9. Good team: both Realtors(R), title agents who specialize in Short sales, buyer's lender, seller's attorney.
10. Last - and the most influential - sellers' lenders, who should be willing to do a short sale.  

Dear home owners! Don't wait too long if you are in trouble and need to sell your house. Don't let your fears ruin your credit.

CALL LOCAL-N-GLOBAL SHORT SALE HOTLINE 877-770-5551

We can really help you.

Cleveland Home Buyers Try To Avoid Short Sales. And miss many  real good opportunities. Why?

There are few basic fears and myths:

• Short sales take indefinitely longer than any other sales
• Contract price in Short sale can be challenged by lender
• You can not do real due diligence in short sale situation
• Property may be damaged or even vandalized and no one will be responsible for this.

There are few serious reasons for existence of these fears and for buyers' desire to avoid Short sales in Greater Cleveland:

1. Inventory of bank owned homes in Cleveland has been bigger than inventory of short sales.
   
2. Home buyers and their agents prefer to buy foreclosures rather than short sales because of more simple procedure and more predictable outcome.
3. Many Real Estate agents have no experience and training in dealing with short sales on the buyer's side. Many home buyers lose patience and quit the short sale deals because of lack of guidance from their agents.
4. Some listing agents do mistakes in sellers' qualification, pricing, documenting, and submitting the right package to the lender for approval.
5. Some listing agents do not care about cooperation with the buyer's agents and lose the deals because of lack of leadrship.
6. Many home buyers and their agents are not aware of changes in banks' attitude towards short sale.
7. First time home buyers do not want to jeopardize the eligibility for Home buyers tax credit and do not even consider short sales as an option.

However, in many cases home buyers get the great houses at Short sales and never experience any of nightmares.

We have a very recent experience in getting a short sale approved by the lender within 3 days! Very responsible owner took care of the property, so not only the first time home buyers got a great house in a very nice move-in condition, they also got it for a very competitive price!

Good news is that we have one more great short sale listing for you. Excellent condition, very diligent owners, very cooperative lender and great price! Add to this our experience in dealing with short sales, strong and proven procedures, and cooperation with very experienced in short sales Title agents.

Short Sale in Mentor in Excellent Condition

Overview Maps Photos Features Description

$100,000 Single Family Home For Sale Main Features 3 Bedrooms 2 Bathrooms 1 Partial Bathroom Interior: 1320 sqft Lot: 0.11 acre(s) Location 7687 Pinehurst Dr. Mentor-on-the-Lake, OH 44060

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Svetlana Stolyarova Local-n-Global Realty (440) 2475388 Realty@Local-n-Global.com http://www.Local-n-Global.com Listed by: Local-n-Global Realty

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