Can You Stop Foreclosure? We Negotiate Chico Short Sales.
November 24th, 2012 Categories: Short Sales
Did you know?
The Sandi Bauman Team! at Chico Homes specializes in short sales!
Question: What do you get when you combine a top producing, reputable Chico Broker with a highly specialized Short Sale Negotiator?
Answer: Two professionals for the price of one.
Question: What is the price for a TEAM of experts to facilitate my Chico short sale?
Answer: Out of pocket… Nothing! Zero! Zilch! Nada!! As a homeowner seeking a short sale, you do not pay direct Realtor fees. No need to bargain shop! You might as well hire the best you can find.
According to stats provided by the CRMLS system, Sandi Bauman is the top producing Chico LISTING agent of 2010, 2011, and 2012. It makes statistical sense to entrust the marketing and negotiations of your Chico short sale to a Broker who has a clear history of exceptional production and customer service.
Having dealt with hundreds of homeowners that have faced foreclosure, we unfortunately know how scary and stressful the process of short sale and/or loan modification can be. For many families and households, the experience is overwhelming, and oftentimes unsuccessful, as evidenced by short sale listings that end badly with foreclosure.
We would consider it a privilege to help you research your options and provide you with the tools and the education that you need to make informed decisions, thereby ensuring the best possible short sale outcome for you and your family in Butte, Glenn and Tehama Counties. Yes! We have extensive experience in areas surrounding Chico such as Paradise, Magalia, Durham, Oroville, Orland, Willows and Corning!
Call us today for a no obligation consultation. 530-864-5407, or email [email protected]
You will find that we not only have the specialized expertise and resources to assist you, we actually care about your personal situation, and will work methodically and relentlessly to ensure that every avenue for your Chico short sale success is explored.
Let us help! Sandi, Kathy, Liz, Josephine, Joyce, Tara and Ginny… we are all here for you, and are anxious to provide support.
Education and certification:
CDPE (Certified Distressed Property Expert)
CSSG (Certified Short Sale Guide)
FSP (Five Star Professional Short Sale Certified)
SFR (Short Sales and Foreclosure Resource Certification)
VRM (REO and Short Sale Training Certification)
You might also enjoy these articles:
Chico CA Short Sales: Frequently Asked Questions
Time is Running Out: How the Mortgage Debt Relief Act can save you!
Escape Your Unmanageable Chico Mortgage
March 2012 Butte County Foreclosure Rate Heat Map
We will help you explore your distressed property options in Chico. We service Butte, Glenn and Tehama Counties! For a confidential consultation with The Sandi Bauman Team short sale negotiators, call 530-864-5407 or email [email protected].
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Sandi Bauman, Chico CA, Earns NAR Short Sales and Foreclosure Certification
December 31st, 2011 Categories: Short Sales
Short Sale and Foreclosure Resource Chico CA
Buyers and Sellers Benefit from REALTOR® Expertise in Distressed Sales
Chico, CA 12/30/2011 — Sandi Bauman, Broker at Chico Homes, has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.
According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. For many real estate professionals, short sales and foreclosures are the new “traditional” transaction. REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.
“As leading advocates for homeownership, REALTORS® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR® who has earned the SFR certification for these kinds of purchases.”
The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS® stay current on national and state-specific information as the market for these distressed properties evolves.
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Chico Short Sale and Foreclosure Madness
September 5th, 2008 Categories: Chico CA Real Estate News
by Mike Wiegert
The two really hot topics in the Chico real estate world today are “short sales” and foreclosure sales. “Short sales” are pre-foreclosures.
Usually, the beleaguered homeowner still resides in his or her home and is several months in arrears in the mortgage payments. Unable to see an exit strategy from this disastrous situation, the desperate homeowner lists his or her home well below what is currently owed to the bank. Both the homeowner and the agent hope that in the event of an offer, the bank will approve the offer by offering a discount of the amount owed by the mortgagee and also approve associated costs of the transaction.
This hope is sometimes just wishful thinking as banks do not approve all “short sale” offers that are sent to them.
In fact, nationwide, the frenzy to buy homes is at such a great profusion that banks and asset manager’s desks are literally clogged with offers, many of which are well below what the mortgage holder would be willing to accept as a payoff. Buyers that are understandably frustrated by submitting offers with no response or faced with an everlasting wait period are really just victims of the unrefined system many banks use to handle the excessive numbers of offers they receive. Many of these offers are frivolous attempts to buy real estate by investors seeking an unrealistically low price.
A common problem with submitting a “short sale” offer is simply just the manner of how it is presented to the bank holding the mortgage. Even fair market offers are difficult for the mortgage holder or asset manager to come to a decision on without the necessary tools to evaluate the offer and subsequent sale of the property. Many agents make the mistake of submitting the standard California Association of Realtors Purchase Agreement and nothing more. Big mistake! The banking powers that be have nothing to work with. Important attachments to this offer begin with a hardship letter from the Seller explaining in plain language why they are unable to continue to make their payments and as a result feel forced to sell their home. This letter in itself is not enough. The desperate Seller must prove to the mortgagor that the content of the letter is true. Financial statements, full tax returns, pay stubs, bank statements and any available creditor letters included with the letter will definitely influence a banker or asset manager struggling whether or not to approve your offer. Additionally, the person handling your case may live in Baltimore, MD and have no idea what a 3 bedroom, 2 bath, 1,500 square foot house in Chico, CA is worth. Minimally, a BPO (Broker’s Opinion of Value) if not a certified fee appraisal should be included in the package that accompanies your offer. The point is, you don’t see your attorney going into court without substantiating evidence to plead your case.
If you want a successful short sale, you need to also plead your case with any documentation you can provide that will support your argument in favor of a mortgage discount.
Much of what I’ve said here applies to foreclosure sales also. Many lenders and the asset managers that represent mortgage holders just don’t care about the “time is of the essence” clause or expiration date in your offer. In fact, many mortgage representatives purposely price foreclosed homes well below market value and wait for a flood of offers. Banks know that if you have several would be homeowners waiting to get a response to their offers, this creates desire and there is a tendency for at least one of the more emotional buyers to raise their offer above what they may think the other buyers have offered. Unfortunately for all, this really does happen a lot of the time.
My advice: In a “short sale” or foreclosure transaction, don’t play around. Offer the most that you are willing to pay for the home.
If you don’t get a response in a reasonable amount of time, go on to another property and make a bona fide, realistic offer. Otherwise you may find yourself competing over and over with little or no results.
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