The Underwater Mortgage | How to Short Sale Your Home Faster than the Speed of a Glacier

So you’ve already been in pre-foreclosure for months, your bank has agreed to a short sale, but do you know how to short sale your home to your best advantage or how to do it quickly?

This is what Kristin and I did: We found our own buyer. An Investor. We agreed to sell our home to him subject to him leasing it back to us immediately! We did a one year lease at the current market rent rate with the option to renew for up to 10 years.

You may not be able to put together the same kind of sweet deal that Kristin and I were able to make, but why not try it? Either way, by taking this particular bull by its horns, you’ll be able to move the short sale process along a lot faster than your mortgage holder will.

Why? That’s not hard to figure out when you think about it for a moment. The banks and other mortgage lenders are dealing with literally millions of foreclosures! Banks and mortgage lenders are having to learn a lot of new skills, and hire a lot of people, just to begin to keep up.

At the same time, more than 19 million homes in the US are vacant now, according to January figures released by the US Census Bureau. Sure, some of those homes are uninhabitable, but there’s still a very good chance that your short sale is facing some stiff competition.

So here are some ideas to move your short sale along more quickly:

• Before you do anything else, find a Realtor to help you with your short sale. Short sales are specialized transactions that take special expertise to make it happen. Kristin and I were able to handle our own short sale . . . but we were already qualified Realtors. Not just any Realtor can handle a short sale.

• Don’t stress about finding the right Realtor who is trained in short sales. Please contact us and we’ll help you find a professional, certified short sale Realtor who specializes in your area.

• Use the Internet. And we’re not just talking about Craigslist. If you’re on Facebook, if you have a list of your friends’ email addresses—post your short sale information. You don’t want to go emailing or posting the exact address or anything like that, but you can set things up so people can contact you about your short sale if they want more information.

• Post your short sale on the bulletin boards in grocery stores, coffeehouses, pretty much everywhere that people gather. You’d be surprised how many people stop and look at those things!

• Finally, you might even decide to pay to list your short sale in your local paper; that means it will almost certainly appear online as well.

Not many people know how to short sale quickly and well. But when it comes to getting word about your short sale out there, these tips will help!

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