Las Vegas Short Sales
Las Vegas Short Sales Realtor Las Vegas Attorney at NO CHARGE The Process Simplified! The Ratliff/Pittenger Group know how difficult it may be to Las Vegas Short Sales Realtor your home. We have simplified the process!
Las Vegas Short Sales Realtor WHAT IS PROVIDED:
- Full Time Las Vegas Attorney Negotiator
- Las Vegas Attorney To Consult & Negotiate for YOU!
Las Vegas Short Sales RE/MAX Las Vegas Short Sales Realtor is a special transaction that allows a home owner to sell their property for less than they owe on it.
Las Vegas Short Sales Attorney Negotiated No Charge to the Seller SFR Designation from the National Association of REALTORS What is a CDPE?
Las Vegas Short Sales Realtor The Ratliff /Pittenger Group are professionally trainedLas Vegas Short Sales Realtor who have the experience along with an Las Vegas ATTORNEY at NO CHARGE to YOU to negotiate a settlement with your current lender so that you can sell your own home at current market values, even if you owe more than the property is worth.
A Las Vegas Short Sales Realtor RE/MAX Las Vegas is a timely process that requires a trained professional who has experience negotiating with a bank to save you from future liens and credit judgments. What to Expect During the Las Vegas Short Sales Process?
Las Vegas Short Sales Realtor
It is a negotiated settlement in which a short pay occurs, and a lender agrees to accept less than the amount owed to payoff a home loan as an alternative to foreclosure. The lender often agrees because they know if they take the property back through they will often incur and even greater loss. Las Vegas Mortgage Payments Behind?
Five Things Not To Do! Las Vegas Short Sales Realtor has experience along with our FREE Las Vegas Attorney Negotiated Short Sale convincing lenders that they will do better if they take less than what is owed now, rather than taking the property back through foreclosure and trying to sell it later.
Keep in mind, not all lenders will accept or discounted payoffs, especially if it would make more financial sense for the lender to foreclose. Las Vegas Short Sale Realtor Example: The Las Vegas homeowner has an unpaid home loan balance of $200,000. The Ratliff Group completes the Las Vegas Short Sale Realtor package with the seller. Once an offer is received, our Las Vegas Attorney negotiates with the lender on behalf of the seller at NO COST TO YOU.
Our Las Vegas Short Sales Attorney gets the lender to agree to accept an offer of $115,000 as payment in full. The home is sold to the new buyer and the seller’s credit shows loan paid in full. Many lenders are now reporting as ‘paid as agreed, less than what was owed’. The bottom line however is you did not simply abandon your debt, you settled it. In some cases, a second or even a third mortgage may exist on the property. When this occurs, the process becomes much more complex.
Las Vegas Short Sales Attorney Negotiated Short Sales at NO COST to YOU! We will need to negotiate between the existing lenders as to the actual payoff amount they are willing to accept in relation to the other lenders . How does Las Vegas Short Sale Realtor get paid? Las Vegas ATTORNEY at NO CHARGE TO YOU! will negotiate directly with the bank for all real estate agent commissions, which incidentally, are taken out of the sales proceeds and not added on top.
In most cases, the bank will offer the listing agent a smaller than average fee for performing the marketing and negotiation responsibilities associated with representing a seller. Regardless of our actual commission, Las Vegas Short Sale Realtor will provide our Las Vegas Short Sales clients with the full service and marketing dedication that we guarantee to all of our loyal clients.
Las Vegas Short Sales Attorney Negotiated No Charge
How Long Will it Take? The Las Vegas Short Sales negotiation process can often be a lengthy one. Remember, it is actually two different elements. The first is the traditional real estate side (listing the home, choosing offers, etc.). The 2nd element is the negotiation with your current lenders. Both of these take place simultaneously. It may take several weeks to months before a lender and home owner can agree on acceptable terms. Many lenders have thick layers of bureaucracy, insurers and investors that we will have to maneuver through in order to get your short sale approved.
We understand how painful your original situation may be, so we make a special point to communicate with our sellers on a regular basis as we go through this grueling process. But My House Is Going to Foreclosure, Will I have Enough Time? Starting a Las Vegas Short Sales will not automatically stop the lender from starting the foreclosure process.
However, our Las Vegas Short Sales Realtor Attorney at NO CHARGE TO YOU have successfully convinced lenders to postpone a foreclosure while we negotiate a short sale. While there are no guarantees, we will do everything that we can to get your Las Vegas area home sold before the lender follows through with their foreclosure. It is important to contact us as early as possible to increase the opportunity for a successful outcome, but even if you’re well behind, there may be a chance to help you.
One thing we will do is monitor the situation with your lender closely, so you are not displaced without knowing the timeline. Can I Stay in the House? The key word in Las Vegas Short Sales. The purpose of a Las Vegas Short Sales is to get the property sold. So, you will be moving. This is not a Las Vegas Short Sales Realtor program that can stop a foreclosure and allow you to keep the house indefinitely. It will be easier to sell the house if it is vacant, but if you cannot move out of the home for financial reasons, at least make sure the home is easily accessible to potential home buyers. How Do I Know This Will Work? Be very cautious of anyone who offers a guarantee that they will be able to negotiate aLas Vegas Short Sales Realtor. We will not make any promises to you that a Las Vegas Short Sales Realtor will work. Once you missed a payment, the lender is in charge and can proceed with foreclosure if they decide on that option.
However, in light of the current Las Vegas real estate market, lenders are aware that they might have a better chance of selling a home via short sale instead of reclaiming the property in a foreclosure. Will I Get Any Money From the Sale? No. A universal requirement of the lenders in granting a Las Vegas Short Sales is that the borrower will not get any proceeds from the sale of the property. What Happens if This Does Not Work? If you are facing foreclosure, the mortgage lender may be willing to work out a payment arrangement plan with you.
Ultimately, if nothing is worked out, the home will foreclose. What is a Release? A lender may offer to release its security interest against the property in exchange for less than the total amount of the note. A release will allow the property to be sold without paying off the obligations of the note. However, the note is not satisfied. Advantages: This successful Las Vegas Short Sales Realtor will allow the property to be sold and thus avoid foreclosure. Disadvantages: The remaining debt on the property (sometimes called a deficiency*) still exists.
You are still liable for the note – in other words – you still owe the money. What is a Satisfaction? A lender may agree to accept less than it is owed as complete and total satisfaction of the note and release its lien against the property. In the eyes of the lender, the debt is now completely settled. Advantages: Your note and obligation to the lender are satisfied for less than you owe. When the property is sold, the debt is paid off completely. Disadvantages: You may have some tax consequences that you should discuss with your tax adviser due to the fact that the lender is making money you owe disappear. Sometimes our negotiations are successful in obtaining a satisfaction. Sometimes all we can get is a release. Will This Have Any Impact on my Taxes? On December 20th, 2007, President Bush passed “The Mortgage Forgiveness Debt Relief Act of 2007” which allows Las Vegas Homeowners a (3) year window to avoid paying taxes on the loss the lender takes.
Before this act took affect, “If the value of your house declined, and your bank or lender forgave a portion of your mortgage, the tax code treated the amount forgiven as income that can be taxed.” According to “The Mortgage Forgiveness Debt Relief Act of 2007” if you sell your home as a Las Vegas Short Sales Realtor by December 20th, 2010, the loss the lender takes may not be considered taxable income by the IRS.
The IRSoften gets involved with short sales because they are seen as a relief of debt and may be treated as income. Please check with your tax professional and let them know about “The Mortgage Forgiveness Debt Relief Act of 2007.” You will need a tax adviser who is proficient with the ramifications surrounding a Las Vegas Short Sales, and we encourage all of our clients to see competent tax and legal advice. What type of paperwork do I need? The lender will require a view of the financial package that usually includes:
- (2) Months’ bank statements
- (2) Months’ pay stubs
- (2) Years’ IRS tax returns
- (1) Hardship Letter
- (1) 3rd party authorization form, allowing your agent to contact your lender on your behalf
The leading cause of delay and even denial of our offer to the lender is caused by the seller failing to deliver these items in a timely manner. When The Ratliff/Pittenger Group represents you in your Las Vegas Short Sales Realtor RE/MAX Las Vegas, we provide a complete packet for you along with a checklist outlining the exact requirements your lender will need—less hassle, increased efficiency.
The State of Nevada is a deficiency judgment state. What that means; lenders can legally file a judgment against a homeowner for the loss they take when they agree to a Las Vegas Short Sales Realtor RE/MAX Las Vegas or when they have to foreclose. Call The Ratliff Group @ (702) 508-8262 to schedule a free consultation regarding a Las Vegas Short Sales Realtor.
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for Las Vegas, NV
Absolutely the BEST!! Flawless help with Shortsale, NUMBER 1
David - Las Vegas, NV
I found Ratliff/Pittenger Group by chance finding online doing research on a short sale and the process. I had no clue what to do with an up side down house and no where to turn. I was amazed at the immediate response I recieved, I was connected with likely the best realtor out there, Diana Valento who went over and above the call to do and help with everything during the appx 6 to 9 month process we ventured on. She and her group lifted the weight and the burden off my shoulders, They handled all paperwork, all contacts, all question, anything that was needed. it was taken care of. I can't say enough how much I know Diana went out of her way to help me with and could not have done it without her. I also know that I have made a life long friend in her and am truely blessed to have been able to experience such a stressful time with some who truely understands, helps and just a really good person. Best wishes to the Ratliff group and to all who are in need of some seriously great group of Realtors, I would recomend them whole heartedly. Thank you again -David
Mary - Las Vegas, NV
Helped me with every step of the purchase
True Valued Service Professionals!
Jericho and Era - Las Vegas, NV
Diana, Osmany and (The Ratliff Team), we appreciate all of the hard work your team have done for us and we can't thank you enough for making this sale transaction to close in less than 3 months. Your team of pros made this transaction far more than a seamless and painless experience for us. You guys are just awesome, true professionals!!! We definitely will share our great experience with our family and friends and we look forward to using your service again in the near future.
Great Service and KInowledge
Sheila - Las Vegas, NV
The transaction was smooth and the knowledge was impeccable. Not only did I get a great deal but the experience was painless.
Great Service and very thorough!
Kristine - Las Vegas, Nv
Title: Las Vegas Short Sales
Reviewed by Charlie and Irene Stohler on Dec 8
Summary: Las Vegas Short Sales Review
Description: Las Vegas Short Sales review of Ratliff/Pittenger Group with RE/MAX Advantage in Clark County Nevada. We called Bob and Bonnie to talk about what our options would be if we did a short sale. We had done a loan modification a year ago but we were still struggling with our payments. We went through a complete education about what each of our options would be if we decided to give up. Once we saw that a short sale was our best option we proceeded ahead. Six months later everything was done. We can never than the Ratliff/Pittenger Group enough.