Frequently Asked Questions about Short Sales

Can my current Realtor work a short sale on my home?

Unfortunately not in many cases. While there are many agents that do negotiate and work short sales, most lack the knowledge and experience necessary to properly execute one. A short sale is NOT part of the Realtor “basic training.” Even most agents with CDPE (Certified Dist. Property Expert) or other Realtor® designations are inexperienced with them. The results can be disastrous!

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Are there any dangers to be aware of when working a Short Sale?

Be careful of scam artists or shady individuals if you are in financial hardship or facing foreclosure! These sharks can cause more harm than good. Never sign a quit claim deed, power of attorney or an “option contract” without consulting an attorney and experienced agent. A good rule of thumb to understand is that anybody trying to purchase your home will look out for their own best interests in the transaction, NOT yours. Fill out our short form for a quick home evaluation.

What if the terms of the short sale the bank gives me are unfavorable?

If the terms of the short sale are not in your best interest, you are not required to sell the property and complete the short sale. Do remember though that a short sale will have the lender forgive you of the debt and is the best option to avoid foreclosure or bankruptcy and will have the least negative effect on your credit. If you choose not to do a short sale the bank will NOT forgive you of the debt and may continue to pursue you for the outstanding loan balance.

Will the bank continue their collection activities?

Yes, the bank will continue its collection activities. That may mean they will call you or send you letters looking for a payment even if you are currently pursuing a short sale. However, most banks will not foreclose on your home if you are actively working on the short sale. Fill out our short form for a quick home evaluation.

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Our Goal

Starting Point Real Estate LLC is a Real Estate Re-development Co. specializing in the St Louis & St Charles areas. With over 15 years of experience buying and redeveloping homes in the area, Starting Point RE has become St. Louis' go to Real estate company. Starting Point Real Estate has also helped home owners avoid foreclosure and restore their bank accounts. Contact Starting Point Real Estate today if you need assistance in selling your home fast for cash.

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