how to short sale in atlanta

Duffy Realty – Your Competitive EdgeCopyright 2011

Duffy Realty of Atlanta Duffy Realty of Atlanta Presents

Short Selling Your Home – Everything You Need to Know

Presented by

Rhonda Duffy


What We Will Cover TodayWhat We Will Cover Today

1.What is a Short Sale?2.Who qualifies to short sale their property?3.What happens in a short sale?4.What will I owe my lender(s) at the end of a short sale?5.What happens to my credit after I successfully short sale my property?6.What is the one thing that I must have to short sale my property?7.How we come up with the price for your property?8.What to look for in a short sale agent?


What is a Short Sale?What is a Short Sale?● A short sale is a

transaction wherein your lender allows you to sell your property for less than you owe and they wipe away your debt.


Who Qualifies For A Short Sale?Who Qualifies For A Short Sale?Anyone who can prove a hardship qualifies for a short sale.

● Divorce● Relocation● Medical Bills● Loss of Job● Crime in the Neighborhood● Loss of Rental Income● Death in Your Immediate Family● Your adjustable rate mortgage has reset● You simply can not afford to live in the home


What Happens in A Short SaleWhat Happens in A Short Sale•You live in the property if you want to while we market the home for a buyer.•When we get a buyer that we want to take to your lender, we prepare a package of your circumstances and send that to the lender.•We wait on the lender's terms.•You decide if you want to close.


What Will I Owe the Lender(s)?What Will I Owe the Lender(s)?● The purpose of the short sale

is to sell the property without owing the final balance.

● Some lenders may ask you for a small contribution, others will not ask you for anything.

● You won't know what you might owe until you get the offer from the lender(s).


What Happens to My Credit After A Short SaleWhat Happens to My Credit After A Short SaleYou will get dinged on your credit and will not be able to

purchase a home for 2 years at great credit terms.

Foreclosures ding your credit for 7 years.


What is the One Thing That I Must Have To Short Sale My Property?What is the One Thing That I Must Have To Short Sale My Property?● A Buyer that is willing to pay

what the bank wants for the property!

● Nothing happens without a buyer!


How Do We Come Up With the Price For Your Property?How Do We Come Up With the Price For Your Property?● Your Lender(s) have a

certain ratio that they will accept that is based on the property's fair market value.

● We use this ratio and then add in the commissions paid to us and the buyer's agent, taxes and any liens on the property.


What To Look For In a Short Sale Agent?What To Look For In a Short Sale Agent?Most agents report that they close only 25% of their short sale listings. This is because they don't have the training that is essential in short sales. Short sales take a precise and delicate system that requires care and expertise.

Look for an agent that has a short sale designation and has closed at least 10 short sale listings in the last 12 months.


Duffy Realty's Short Sale DivisionDuffy Realty's Short Sale Division● Rhonda Duffy is the ONLY

Certified Elite CDRS specialist for short sales in the State of Georgia.

● She closes short sales on a regular basis and understands the trends of lenders


When You Need HelpWhen You Need HelpCall us as soon as you get a inkling that you need to do a

short sale. Time is precious in this transaction.

You can view more about short sales at

www.DuffyRealtyofAtlanta.com

678-366-7846

how to short sale in atlanta

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