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Understanding Short Sales

Short Sales are another opportunity to purchase a home in today's market from very motivated sellers. A short sale is a real estate transaction with a total purchase price that is less than the loan amount(s) due on the home. For a potential buyer, a short sale is a great way to buy a home at market prices. The seller has agreed to sell the property and the seller’s lender has likely agreed to a reduction in the principal loan value rather than take the home back in a foreclosure. This reduction in the principal loan value, or short pay, is why the transaction is called a short sale.

Traditionally, short sales can take a long time to close. What happens in a short sale is the price that the buyer wants to pay needs to be approved by the seller’s lender too, not just the seller. Because the lender must agree to a reduction in the principal, they are involved in the process from the time the buyer makes an offer. The traditional short sale approval waiting time can be a frustrating experience for home buyers and real estate agents often requiring 60 to 90 days for an answer.

 

Homeowners

Find out if you are eligible for new Federal Short Sale Program

  • $3,000 cash moving allowance
  • Zero Commission Expense to you
  • No Closing costs to you
  • Complete waiver of the unpaid balance after closing
  • We can determine your eligibility in 120 seconds on the phone

Zetabid and our sister company Mortgage Outreach Services are under contract with many top lender/servicers and can enroll you in this program if you qualify. There are no fees to you ever. The federal government pays all commissions and costs. You can list your home with us at a price totally pre-approved by your lender to take the stress of a short sale away. Call us at 888-4Zetabid now or start with this form.















Real Estate Agents

Join our Short Sale Network

  • Access to servicer approved listings
  • We do all the hardship doc retrieval and underwriting with the servicer prior to marketing
  • You do what you do best...market the home and negotiate offers
  • We have the pipeline to most major servicers and have sophisticated technology to generate all HAFA docs and required servicer reporting
  • Mortgage Outreach Services has run over 300,000 consumers through the HAMP process for many top 10 servicers and GSEs
  • Short Sales are mandated prior to foreclosure for HAMP borrowers and we need agents to list thousands of properties nationally.
  • We do most of the work, and pay our listing agents 1.5% to 2% depending on price and file stage. A $199 annual fee is required to reimburse us for the cost of training and agent support.

To Join….submit this form and someone will get back to you to see if you qualify for membership.










 
SHORT SALES IN THE NEWS
SHORT SALES EXPLAINED
A short sale is a real estate transaction where the total purchase price is less than the loan amount due on the home. Buyers often think of purchasing a home through a short sale as a great opportunity to buy an existing home at market price. However, a traditional short sale has a lengthy waiting period and can extend 60 to 90 days without agreement. With Zetabid Pre-Approved Short Sales, there is no waiting time or lender contingencies. We partner with the lender to pre-approve the sale price before the short sale home is listed for sale and placed on the market. To see the properties available in our Short Sales Program, click here.
Property Information Disclosure The information is being provided for consumer's personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties on which consumer may be interested in conducting its own diligence. Zetabid is a licensed CA real estate broker, however Zetabid is not the listing broker for any properties and this web site references real estate listings held by brokerage firms other than Zetabid and is provided as an accommodation only. The accuracy of all information is not guaranteed, regardless of source, including but not limited to square footage and lot size, and such information comes from third party sources. Each consumer should personally verify any information contained regarding a particular property on this site through personal inspection by consumer and/or with their own appropriate professionals. Consumer, by viewing these properties, releases Zetabid from any all claims arising in connection with any inaccurate information provided herein. CA License 01848390; FL License CQ1033208; AZ License CO630219000. IN License RC50900391. IL License 478.025332.