Short Sales in Maryland / Short Sale Realtor

Short Sale Realtor
for
Maryland, DC and Virginia
!

Do you know. . it's not easy dealing with banks
 these days. .

That's why you should be very careful what
 Realtor to hire and help you
SHORT SALE YOUR HOME

"WHY?"

Simply because. . your future financial life is on

the line!

Hi, may name is Fernando Herboso associated with Choice Real Estate and president of  Herboso & Associates.
 I'm a Short Sale Specialist in the Maryland, DC and Virginia region

Becoming a  Realtor that specializes in short sales. has been a quest for me these past couple years.

I become certified with CDPE  (Certified Distressed Property Expert) early in 2008 and we have

become an authority in the Maryland Region for Short Sales.

I was recently interviewed by the Washington Examiner for a story about Short Sales and Foreclosures.

I would like to have an opportunity to speak to you if you are considering selling your home in a

short sale

When you have to make a big decision like putting your home in the market as a short sale, you
 should think about this grand step, exhaust all the possibilities and and be advised by the right
 person (s) 

Please check this eBook  I've  written about Short Sales . . . it

will answer many questions. . .

Also check  my blog about short sales in Maryland

Finally, here's an example of a short sale approval we received  for over $285,000 in one single
 property  HERE

I want to take this opportunity to tell you that our personal mission is to bring to you a level of
 knowledge, experience, commitment, high standards and results to answer your housing needs. I
 believe, the most effective way to provide superior service is to build a strong working relationship

 with you. Our systems includes regular consultations and feedback, which is the best tool for
 identifying and clarifying your housing objectives and help define strategic solutions.

Thank you in advance  for your consideration and I look forward helping you.

Please remember, that a short sale may not be the best course of action for you. . give me

a call to find out. 

Fernando Herboso
Herboso & Associates

Realtor/Consultants

CHOICE REAL ESTATE

"Working with us it's not an OBLIGATION. .it's a choice"
Phone: (301) 881-8900
Cell: (240)426-5754
www.ReallyNiceHomes.com

Free List Of Foreclosures In Maryland

HERBOSO.com

Announcing the arrival our newest website

Want to find about the latest foreclosures in Maryland?

Herboso.com will give you a FREE list of foreclosures in Maryland.

Coming soon. . ..a free list of

HUD HOME SALES MARYLAND

http://www.reallynicehomes.com/

is our main website.

VISIT US!

What Percentage Of Sales Price for a Short Sale ?

What Percentage OFF Sales Price for a Short Sale ?

I've been asked many times about this. The short answer is : Depends
Here are 3 things that will determine this question:

#1 Are there any similar comparables. If two houses are alike and one SOLD for $100,000 and the other one is a short sale. The percentage of the sales price from this comparable should be less that the amount it will cost the bank to foreclose the property. If the cost to foreclose a property from XYZ Bank is $20,000. .then an offer of $81,000 will make sense to the bank. An offer below $80,000 will not make sense to be accepted by the bank.

#2 Of course there are many conditions to be in line before a short sale can be accepted. The number 2 reason to validate a percentage of the sales price during a short sale is by knowing if there are two or only one bank holding the note. From the last similar comparables you can deduct that bank #1 holds 80% of the mortgage. .and bank #2 gets the "short" end of the stick
If bank #1 can get their 80%. . bank #2 will try to get whatever they can get. . .after they realize that the property value doesn't give them a chance to get anything. When bank #2 is the same bank. . they maybe willing to write it off.

#3 The percentage off the sales price when it is a short sale will also be determined by BPO.
The Buyer Broker Opinion plays a huge role in determining what percentage off you will be paying when buying a short sale. Proving to the bank that the property needs major work could get you an offer accepted 30 to 40% below the last comparables.

As a listing agent for close to 20 active short sales, I ask my dear Realtor friends that I don't care how low your offer can be. ..I will submit it to the bank. . .as long as you can send me a comparable that supports your offer amount.

Great News For Short Sales

Tax implications for the borrower was very significant that a short sale would not be in the borrower’s best interest. Before a short sale was contemplated in 2007, I strongly recommended that the borrower seek the advice of a professional tax advisor.

Generally speaking, any relief of indebtedness was supposed to be included in the sellers gross income for the tax year.
The great news is that as of January 4th, 2008 Congress and the President pass into law that a short sale will not be liability for the seller period. Read It Here
There are some exceptions to this rule , please contact me if you have any questions.
www.ReallyNiceHomes.com