Short Sale and Foreclosure Resource
Rick Snyder Earns NAR Short Sales and Foreclosure Certification
Buyers and Sellers Benefit from REALTOR® Expertise in Distressed Sales Boise, ID — Rick Snyder with Silvercreek Realty Group 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 then-President Charles McMillan.
“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. To earn the SFR certification, REALTORSÒ are required to take one core course and three Webinars. For more information about the
Breaking down Short Sales For the next few entries I am going to explain the process to sell your home as a short sale. Not going into what a short sale is, but what is involved to get your home on the market and take contracts.
Bank short sales, of course, are where the seller of the property is requesting the bank to allow the sale of their home for much less than the original lien note was secured. Selling short is not a right of the seller, banks decide on an individual basis whether or not to allow the sale. It is of the utmost importance to have the full cooperation of the homeowners in order for the Realtor to ask for a short sale.