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Why Hire A Realtor?

So why do you want to hire a Realtor® when buying a house anyway?

Well…

There are many advantages of hiring a Realtor® to represent you as the home buyer.  By working with your own personal Realtor your best interest is always being looked after.

Signing a Buyer Broker Agreement (the agreement used to hire a Realtor®) guarantees the highest form of consumer protection available to a real estate buyer.  By signing the buyer broker agreement, you are essentially hiring the elected buyer’s agent to represent you and your best interest during the transaction.

It’s important to work with a personal buyer’s broker (Realtor®) because…

Satisfied Customers Realtors–> As your buyer agent, we have a fiduciary duty to help you the home buyer locate the best home for your needs and to negotiate the best deal possible. With a Realtor on your side, buyers are assured of the greatest range of choices – the entire market.

–> There is NO COST to hiring our team as your buyer’s agent because the commissions are paid by the home seller or bank who is selling the property.

–> As your buyer’s agent, we will provide you with Value, Sales Statistics, Local Market & Neighborhood Conditions and evident physical defects.

–> We will also provide you with the facts on the neighborhood specifics and appreciation/depreciation values.

–> Your buyer’s agent will also assist you in arranging financing with a Mortgage Lender (if necessary).

On this site you will find a wide variety of useful information to help you buy or sell a home in San Diego. From information on the local community, to advice about finding a mortgage or preparing your home to sell, it’s all available here on our site.

You can also search for a San Diego home for sale by viewing current listings with detailed descriptions and photos here –> www.FreeSDHomeSearch.com . Or you can get help determining the value of your home by requesting a report that includes the prices of similar homes that recently sold or are currently for sale in beautiful San Diego.

“Helping You WIN In This Market”

Your friends and local real estate experts,

San Diego Realtors

Sandro, Oliver, Sam

The Home Team

Contact us today:

Oliver Graf – Direct: (760)237-8006
Sandro Natale – Direct: (949)290-2599
Sam Khorramian – Direct: (858)518-1533

Have a question? —>Contact or Email us direct <—

Big Block Realty
Always working hard for you!
www.BigBlockRealty.com
CA DRE #01885775

 

 

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How Does Short Sale and Foreclosure Affect My Credit Score?

How Does Short Sale and Foreclosure Affect My Credit Score?

Well, the Credit Impact for a Foreclosure vs Short Sale can be dramatically different.bigstock-The-house-in-human-hands-17017331

In a challenging market, many homeowners are faced with the decision to try a short sale or just let the property go to foreclosure.

Below are some points to think about when dealing with this subject.

If you have questions on whether missing mortgage payments and selling your property for less than the full amount you owe on it(short sale) will hurt your credit score, the answer is yes.

HOWEVER, that being said, the credit damage done by a short sale is significantly better than a Foreclosure or Deed in Lieu. In a short sale it does not show up on your credit report as long nor is the impact as severe as a foreclosure.

Take a look at some of the most common questions….

Question 1) When will I be able to buy another house? (Primary Residence)

Short Sale: Homeowner is eligible for re-purchasing in 2 years

Foreclosure: Homeowner is eligible for re-purchasing a primary residence in 5 years

Question 2) When will I be able to buy another property? (Investment Property)

Short Sale: Homeowner is eligible to purchase an investment property after 2 years

Foreclosure: Homeowner is eligible to purchase an investment property after 7 years

Question 3) On future loans will I have to disclose what happened with my house?

Short Sale: There is no disclosure required for a short sale

Foreclosure: On any future loan applications (1003 mortgage) when they ask, “have you ever had a property foreclosed upon…” you will have to mark YES, affecting what programs will be available to you and interest rate that you would qualify for.

Question 4) How will my Credit Score be affected?

Short Sale: Only late or missed payments on the mortgage will show up as derogatory items on the credit report. After the sale is completed the mortgage will report as paid or settled. Short Sales can affect your score differently depending on how many payments are missed, sometimes as little as 50 points. A short sale will have an affect on your score for approximately 18-24 months.

Foreclosure: The credit impact of a foreclosure is MAJOR and can reduce your credit score anywhere from 250-300 points and stays with you on your report for 7-10 years.

Question 5) How will my Credit History be affected?

Short Sale: Short sales are currently NOT reported in the credit history of a credit report. The loan is generally reported as “paid off, settled”

Foreclosure: A foreclosure will remain as public record on a homeowner’s credit history for 7-10 years, sometimes even longer.

For all the information on Fannie Mae’s guidelines, go to…https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0816.pdf

If you would like more Free information on Short Sales and foreclosures, please contact us anytime.

Your friends and local real estate experts,

San Diego Realtors

Oliver, Sam, Sandro

The Home Team

Contact us today:

Oliver Graf – Direct: (760)237-8006
Sandro Natale – Direct: (949)290-2599
Sam Khorramian – Direct: (858)518-1533

Have a question? —>Contact or Email us direct <—

Big Block Realty
Always working hard for you!
www.BigBlockRealty.com
CA DRE #01885775

BUYING OR SELLING?: Don’t forget our Free Home Search Tool.
Search the MLS anytime! http://www.FreeSDHomeSearch.com

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Short Sales- A better way to sell your home and avoid Foreclosure

Short Sales- A better way to sell your home and avoid Foreclosure!:

The effects from the last market can still be felt today.

Nearly 20% (9 million people) of homeowners across the US are “upside down” on their mortgages. Meaning, they owe more on their mortgage balance than their properties are actually worth.

Short Sales and Real Estate San DiegoSome people thank that they should just walk away and give up their home to foreclosure…

But Hold On!

There is light at the end of the tunnel…

There can be some big time benefits to doing a Short Sale rather than a foreclosure.

To the homeowner there is little difference because either way they will be a walking away from a depreciating asset

BUT the benefits of a Short Sale are in favor of the homeowner.

Let me explain,

Credit Impact: For starters Short Sales affect a person’s credit significantly less than a foreclosure (most of the time, please contact a professional to examine your case individually). Someone who “Short Sells” a property is more likely to qualify for a new mortgage in as little as 12-24 months, whereas a foreclosure and/or bankruptcy will haunt someone for up to 7 years. Depending on how many late payments (if any) are missed during a short sale, will determine how much your credit drops while a foreclosure will leave a massive mark.

Stress: On top of the credit impact most people never talk about the effect on homeowner’s moral when they are going through a foreclosure. It’s never a good feeling for someone that is just watching the bank take their their house away. With a Short Sale, the homeowner will have more time to make moving preparations and the lender will work with you to come up with a resolution.

Homeowner Help: In a Short Sale the homeowner is 100% involved in the process, making their own decisions with the help and guidance of a Short Sale Professional (contact us today for assistance). The Short Sale specialist will handle all communications with the lender, as well as market and sell the property with the help of an Real Estate Agent. This allows the homeowner a great alternative to foreclosure and is a very dignified way to sell a property!

If you, or someone you know is upside down on a property or facing foreclosure contact a Short Sale Specialist once they have missed at least one mortgage payment or decide you need to sell.

We would gladly help if you need any assistance.

Your friends and local real estate experts,

San Diego Realtors

Oliver, Sam, Sandro

The Home Team

Contact us today:

Oliver Graf – Direct: (760)237-8006
Sandro Natale – Direct: (949)290-2599
Sam Khorramian – Direct: (858)518-1533

Have a question? —>Contact or Email us direct <—

Big Block Realty
Always working hard for you!
www.BigBlockRealty.com
CA DRE #01885775

BUYING OR SELLING?: Don’t forget our Free Home Search Tool.
Search the MLS anytime! http://www.FreeSDHomeSearch.com

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Posted in FreeSDHomeSearch