Orlando, Florida (PressExposure) April 14, 2008 -- âWith the right skillsâ, Kaller begins to explain, âit is absolutely possible to capitalize on this market because homeowners and lenders are more willing to negotiate. Most homeowners would rather walk away from a short sale with their debt satisfied than end up with a foreclosure on their credit report. Likewise, lenders will accept an offer below value rather than have a depreciated home on their hands. This is why the pre-foreclosure market is so good.â
When asked about determining the price of a house in foreclosure, Mr. Kaller explained the following: âA homeowner looking to sell their house can make the deal even sweeter by utilizing the buyer's appraisal to price the property rather than using an independent appraiser. The mortgage seller is required to obtain an appraisal on an As-Is and As-Repaired basis. However, if the buyer has secured an FHA-insured appraisal, use of the buyer's appraisal would be allowed since acquisition of an appraisal for HUD property cannot be duplicated within a six-month period.â
He also went in detail about what short sales are and what benefits they offer. âA âShort Saleâ is where the bank takes a lower payoff amount in order to allow you to sell your home and avoid foreclosure. In most cases the bank does not want to own your property. It costs them tens of thousands of dollars to foreclose, rehabilitate, market and sell a property. Taking less than what they are owed actually nets them more money in the long run and helps you avoid the credit issues associated with a foreclosure.
Jeff Kaller will discuss the technique of negotiating short sales at two all-day workshops in Chicago, IL on February 16th and 17th. Registration and additional information are shown on his website at [http://www.jeffsworkshop.com/]
Jeff Kaller has students from Cook, McHenry, Kane, Dupage and Kendall Counties including Arlington Heights, Brookfield, Chicago, Franklin Park, Holbrook, Indian Head Park, Iverness, Kensington, Greenwood, Milbrook, Richmond, Rosemont, Woodstock, Big Rock, Kaneville, Adddison, Roselle, and Oswego, to name a few.