Georgia Real Estate Voice

Bank of America Short Sale - I've done quite a few short sales with Bank of America and I have to say, they are getting better. Practice makes perfect, or better at least. One thing they are doing is being more pro-active. Last week Bank of America sent an email telling real estate agents to educate our clients on short sale benefits. They are also recommending to start now and not wait until an offer is received. I've notice that Chase is doing the same and being very pro-active which makes the Short Sale process better.

Benefit 1 - Pause in the foreclosure process - Often when the bank is aware that we are actively marketing a home and working on a short sale, they will pause the foreclosure process. After all, they really don't want the house back. Although, that could be argued based on the actions of some of the bank personnel we have come across in the past.

Benefit 2 - Up to $3,000 in relocation assistance for the homeowner - Note that they say up to $3000 in relocation assistance for the homeowner. Just recently, Bank of America offered $2500 for one of my clients who hasn't lived in the house in years. That one was used as rental property.

Benefit 3 - Deficiency waivers that provide peace of mind - If you are given a deficiency waiver, the bank will not come after the homeowner for the difference in what is owed and what the house sells for. A foreclosure in Georgia still leaves that open.

Benefit 4 - An upfront agreed upon price - I was truly surprised when Bank of America contacted me and told me to reduce the list price on a home by $60,000! The price we had listed it was in line with the comparable sales in the neighborhood. The reduction was part of their upfront agreed upon list price with the investors. That price reduction generated 14 offers within days and a contract price substantially above the list price.

Homeowners can also begin the short sale process with Bank of America by calling 1.866.880.1232 to speak to a Bank of America short sale specialist. Remember when you sell your house as short sale, real estate fees are paid by the bank. There is no out of pocket expense to the home seller.

If you are considering a Smyrna GA short sale contact me, Jen Bowman, Keller Williams Realty Cityside at 404-456-5024. If you are selling a home outside of metro Atlanta and need a referral to a short sale specialist in your area, feel free to contact me.

Tucker GA Short Sale - 4054 Phils Court - Looking for a deal? Then look no further. This all brick ranch home needs some TLC and is ready for new owners. It's in the stable neighborhood of Windy Hill in Tucker off of Brockett Rd. It's a 3 bedroom, 2 full bath with 3 large common areas. One of the big rooms could be used as a recreation room and there are 2 good sized family rooms. There's a huge back deck off the back of the house. Under those decks you'll find lots of dry storage. This is a short sale pending bank approval. It's set to foreclose in July, so hurry for this amazing deal at just $119,000.

To get there take I-285 south east to exit 37 - LaVista/Tucker. Left (east) onto Hwy 236 to Right onto Northlake Pkwy. Left on Brockett Rd. Right on Phils Ct. Home on the Left near cul-de-sac.

This Tucker Short Sale is listed exclusively by Keller Williams Realty Atlanta Partners, Jen Bowman 404-456-5024.