Foreclosure Short Sale Prospect Home Owner Analysis Checklist?
Below Is A Foreclosure – Short Sale Prospect analysis checklist to determin if the home owner is a short sale prospect or a foreclosure candidate.
1. Can the home be sold for enough to pay off what the Seller home owner owes on it before foreclosure?
2. Does the Seller home owner have the means to solve their situation on their own? Do they have money sitting in a bank account or equity in another property that they can use to catch up or pay off their mortgage(s) before a foreclosure or short sale occurs?
3. Does the Seller home owner insist on staying in the home (even when it’s pointed out they’ll have to move if the house is short saled or forecloses)?
If you answered yes to any of the above, this may not be a good Short Sale Prospect before foreclosure.
However, we may have another solution for you!
Give us a call at (850) 423-9728 and let’s talk. Otherwise, continue with your analysis checklist…
1. Is the Seller home owner cooperative, willing to move and walk away from the home?
2. Is any foreclosure sell more than 10 days away?
3. Is the home over-leveraged?
4. Does the home have more than one mortgage on it?
5. Is the home really ugly?
6. Is the home unconventional/obsolete?
7. Is the home a victim of its surroundings (i.e., located on a busy highway, next door to a cemetery, crime scene, prison, etc.)?
8. If the home is “pretty”, do you think the house would sell in 30 days or less if you dropped the listing price by 20% for a short sale?
GREEN LIGHT! If you answered yes to any of the above analysis checklist questions, this may be a good short sale prospect before foreclosure, thus, saving the home owner’s credit.
Gather the information on the Short Sale Prospect
Foreclosure Short Sale Prospect Home Owner Analysis Checklist Sheet with this analysis and let’s get this deal moving!