https://www.rochesterrealestateblog.com Rochester Real Estate | LOCAL Homes For Sale | Homes for sale in Rochester, NY, LOCAL Rochester real estate listings, market data, REALTOR® info, and high quality content updated every 15 minutes! Wed, 25 Jun 2025 11:50:30 +0000 hourly 1 https://wordpress.org/?v=6.7.2 https://www.rochesterrealestateblog.com/wp-content/uploads/2016/11/cropped-SITE-LOGO-512-x-512-1-32x32.png https://www.rochesterrealestateblog.com 32 32 https://www.rochesterrealestateblog.com/june-home-maintenance-checklist-summer-prep/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20501 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/may-home-maintenance-checklist/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20484 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/april-home-maintenance-checklist/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20364 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/march-home-maintenance-checklist/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20338 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/buy-a-house-in-new-york/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19906 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/sell-a-house-in-new-york/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19905 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/non-warrantable-condo/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19796 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/builders-spec-construction-loans/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19795 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/moving-to-the-finger-lakes-region/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19875 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/pros-cons-online-home-value-estimators/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19794 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/role-of-location-home-valuation/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19768 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/lowes-vs-uhaul/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19758 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/property-condition-disclosure-statement/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19632 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/delayed-showings-negotiations/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19547 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/selling-home-moving-out-of-state/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19542 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/unconventional-methods-for-selling-a-house/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19519 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/sell-house-off-market/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19503 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/what-is-piti/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19498 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/home-renovation-budget/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19490 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/co-borrower-credit-score/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19474 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/new-construction-final-walk-through/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19458 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/pumping-a-septic-tank/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19450 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/multiple-offers-on-homes-at-once/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19414 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/real-estate-photo-ready/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19409 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/home-builders-warranty/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19394 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/july-2023-rochester-ny-real-estate-market-update/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19403 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/real-estate-commission/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19366 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/quitclaim-deeds/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19358 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/selling-home-as-is-cash/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19347 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/is-my-house-haunted/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19342 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/find-history-house/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19316 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/june-2023-rochester-ny-area-real-estate-market-update/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19313 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/real-estate-lawyer/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19181 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/may-2023-rochester-ny-area-real-estate-market-update/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19162 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/buying-home-first-time/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19058 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/what-look-for-home-inspection/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18983 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/companies-buy-houses-for-cash/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18889 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/does-home-staging-work/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18814 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/avoid-when-getting-mortgage/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18797 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/replacing-roof/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18771 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/restrictive-covenants/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18714 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/court-force-sale-divorce/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18693 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/real-estate-agent-vs-broker/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18650 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/determine-square-feet/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18167 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/real-estate-agent-sued/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18133 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/5-types-home-inspections/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18119 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/pros-cons-rent-own-homes/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18104 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/things-before-moving/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18084 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/become-real-estate-agent/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18071 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/renting-house-apartment/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17871 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/5-factors-buying-house/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17851 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/appraisal-gap/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17827 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/renting-with-roommates/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17794 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/things-know-buying-land/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17773 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/home-sellers-wait-respond-offer/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17745 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/how-to-buy-a-house-with-a-low-credit-score/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16819 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/things-to-consider-when-shipping-a-car/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16248 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/home-depot-truck-rentals-what-to-know-including-pricing/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16156 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/16-things-to-do-before-listing-your-home-for-sale/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16138 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/biggest-home-inspection-mistakes-to-avoid/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16112 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/how-credit-score-impacts-buying-house/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16086 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/top-winter-home-selling-mistakes/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16051 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/winter-home-buying-mistakes/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16013 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/address-change-form-post-office/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15981 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/what-does-contingent-status-mean-real-estate/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15956 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/diy-renovation-ideas-backyard/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15937 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/how-to-rent-an-apartment/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15931 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/tips-selling-a-home-virtually/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15907 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/winter-storage-checklist/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15885 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/should-i-waive-my-home-inspection/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15870 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/biggest-self-storage-companies/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15836 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/earnest-money-house-deposits-explained/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15760 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/moving-mistakes-to-avoid/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15568 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/top-mortgage-myths/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15102 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/first-time-home-buyer-mistakes/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14815 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/10-tips-adding-appeal-to-home-this-summer/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14237 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/smart-home-technology-selling-a-home/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13782 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/top-frequently-asked-questions-home-sellers/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2424 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/first-time-home-buyer-programs/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock http://rochesterrealestateblog.com/?p=580 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/how-new-doors-windows-boost-your-home-value/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13643 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/5-things-to-know-when-flipping-your-first-house/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13574 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/mortgage-options-for-self-employed-borrowers/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13450 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/top-10-best-places-see-christmas-lights-rochester-ny/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=10236 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/what-are-the-pros-and-cons-of-multifamily-homes/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13219 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/low-cost-home-improvements-you-should-make-before-selling-your-home/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13114 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/15-things-millennial-home-buyers-look-at-while-buying-a-house/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13028 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/how-does-a-fence-increase-the-value-of-your-home/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12995 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/5-simple-and-low-cost-fixes-to-make-your-home-more-appealing-to-buyers/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12779 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/how-to-improve-a-homes-curb-appeal-rochester-ny/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12665 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/7-ways-create-an-energy-efficient-home/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12633 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/hiring-movers-vs-moving-yourself/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12592 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/pay-off-student-loans-before-purchasing-a-home/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12531 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/should-i-build-a-new-home-or-buy-an-existing-home/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2497 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/buying-a-condo-vs-renting-a-condo/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12402 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/9-money-saving-moving-tips/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12341 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/how-to-create-a-proper-home-maintenance-checklist/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12300 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/tips-for-tenant-screening/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12291 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/best-social-media-blogs-2017/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12045 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/best-home-improvement-blogs-2017/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12044 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> https://www.rochesterrealestateblog.com/best-mortgage-blogs-2017/ Thu, 20 Mar 2014 18:50:22 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12043 How to Successfully Complete a Short Sale - Mystery Solved![/caption] Short sales are becoming more and more common in the real estate industry.  A short sale is the sale of real estate in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.  In "Layman's Terms," the homeowner owes more on the home than the market would "allow" for the home to be sold for. A short sale can be frustrating for everyone who is involved in the real estate transaction including buyers, sellers, real estate agents, attorneys, and other professionals.  If not handled properly, a short sale, can take many months and still may not be approved by the lender!  While it's virtually impossible for the short sale "mystery" to be completely solved, there are many things that can help improve the probability of a successful short sale! [caption id="attachment_837" align="aligncenter" width="261" class=" "] A well written hardship letter can determine whether a lender grants a short sale or not![/caption] Creating a Meaningful and Well Thought Out Hardship Letter Many times before a bank will approve a short sale, they require a letter of hardship.  Hardship is not always directly related to financials.  Hardship can include things such as (but not limited to) unemployment, a death in the family, illness or medical emergency, divorce, or reduced income.  This letter is the home owners opportunity to "win over" the lender.  Lenders are not under any obligations to grant a short sale to a home owner.  Make sure this letter is meaningful and well thought out as it may be the only opportunity to get a short sale granted. Select a Successful Short Sale Real Estate Agent All real estate agents are different!  What type of properties do you list?  What "type" of sale do you normally take part in?  These are just a few questions that should be asked to ensure the "right" real estate agent is selected.  There are lots of real estate agents out there that have no idea when it comes to successfully handling a short sale.  Making sure that the real estate agent has successfully handled a short sale in the past is important.  A short sale can take lots of effort and follow-up and there are many real estate agents out there who don't and won't make the extra effort! Authorize the Real Estate Agent to Discuss with the Lender Lenders will not speak to anyone about an account except the mortgagee.  This is of course unless the home owner authorizes the lender to discuss their account with others.  Some lenders have forms (commonly known as an authorization to disclose information) that the home owner must fill out, others don't.  Whether the lender has the document or not, it can be a simple letter from the home owner to the lender.  It is absolutely critical that the real estate agent is authorized to discuss their clients account with the lender.  If the "right" real estate agent is selected to handle the short sale, he/she should know exactly what questions to be asking. Keep Everyone Engaged and Updated As mentioned above, a short sale can be very frustrating to many different parties involved in the real estate transaction.  A buyer who is looking to potentially purchase a short sale must know first and foremost that patience is a must!  It can be weeks and months until some lenders will approve or disapprove a purchase offer.  It can be even more frustrating to everyone involved if there is no dialogue or communication.  A real estate agent who is a short sale "specialist" should be able to keep all parties engaged and updated, often times, even if the update is something very minimal. [caption id="attachment_838" align="aligncenter" width="300" class=" "] Having a lender who is responsive and cooperative is an important part on whether or not a short sale is successful.[/caption] Having a Cooperative and Responsive Lender Having the best short sale real estate agent and allowing that agent to discuss with the lender is important, however, if the lender is not cooperative and responsive it means nothing!  Phone calls, e-mails, and mailed documents not being responded to will all but ensure that the short sale is unsuccessful.  One common reason for uncooperative and non-responsive lenders is that they do not have the resources to accommodate a high volume of short sales. Be Prepared to Close Once the Lender Approves the Short Sale Once the lender approves the short sale, if at all possible, everyone involved in the transaction should be prepared to close!  Some lender approval letters can expire quickly (30-60 days) and a short sale extension is not guaranteed.  It is important that the attorneys' have reviewed documents (title, survey, abstract, etc) and the buyer has been approved (appraisal completed, inspections completed) and that everyone involved in getting the transaction closed, has completed their responsibilities.  Since closings can take 60-90 days from contract, if the bank approves with only a 30 day approval letter, it can be an issue. Once again, it's virtually impossible for the short sale "Mystery" to be completely solved.  The above are some things that can help successfully complete a short sale!  What other tips and/or advice would you provide to a home owner considering a short sale? Other Excellent Short Sale Resources

• Expectations of a Short Sale by a Short Sale Specialist by Lynn Pineda.
• Understanding Short Sales via AOL Real Estate.

Considering a short sale in Rochester, NY?  If so, be sure to contact us, one of the Rochester, NY short sale specialists, for a no-obligation and no-pressure appointment to discuss your real estate situation.   About the authors:  The above information was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]>