Q: What is Realty Warehouse?
A: We are an all-inclusive marketplace of coordinated real estate services relevant to today’s housing market. Our purpose is to align you with specialist to help you in your specific area of need.
Q: How does your process work?
A: Since all real estate transactions differ the first step is determine what exactly you want. Then we make it easy and stress-free for you make it happen! Give us a call at 800-823-3111 and within 60 seconds we’ll connect you with a specialist to provide a free consultation specific to your needs.
Q: What kind of properties are eligible?
A: Residential properties, multi-family properties, commercial properties, and vacant land. Property condition does not matter. Properties can be abandoned, weather or fire damaged, even properties occupied by non-paying tenants.
Q: What are some reasons people have sold their property through Realty Warehouse?
A: There are many reasons. Some of the reasons sellers have come to us are:
- They needed or wanted to sell and get cash quickly. In most cases an offer is made in 10 minutes and a cash closing can take place in 10 days or less
- To avoid paying a commission and closings costs
- People looking to avoid foreclosure
- Homeowners who owed more on their house than it was worth and needed a Short Sale
- Estate sales or properties in Probate
- Others sold due to divorce, distressed or damaged property
Q: Are there any fees to work with you?
A: No! You do not have to pay anything. You can avoid realtor commissions, closing costs even attorney fees. This will save you thousands of dollars.
Q: Will you give me a low ball offer?
A: No. You will receive a no obligation fair offer for your home.
Q: My house has damage and needs repairs. Is it eligible for the quick cash sale program?
A: Absolutely. Condition doesn’t matter.
Q: What is a foreclosure?
A: Simply, foreclosure is the process by which a homeowner’s rights to a property are forfeited because of failure to pay the mortgage. It means losing your house and seriously damaging your credit.
Q: I am behind on my payments and facing foreclosure. Can you help me?
A: Now is the time to make a move. A foreclosure can be avoided the majority of the time by being proactive and taking steps to work with your lenders. However, time is not your friend. The process has picked up speed so it’s urgent to take action. You will NEVER pay Realty Warehouse upfront fees. If you’re behind on your payments call, click or chat for an immediate consultation. You have nothing to lose by taking action now and maybe everything to lose if you don’t. CLICK HERE TO LISTEN TO A PAST CLIENT.
Q: What is a Short Sale?
A: Any sale of real estate that generates proceeds that are less than the amount owed on the property. A real estate Short Sale occurs when the lender and borrower decide that selling the property and absorbing a moderate loss is preferable to having the borrower default on the loan. It is therefore an alternative to foreclosure. Real estate Short Sales can be done only by mutual consent of borrower and lender. Both parties can benefit greatly from this type of transaction. Borrowers can avoid having a foreclosure appear on their credit report, move substantially on their own terms and walkaway owing nothing while lenders can avoid substantial fees associated with foreclosure.
Q: Is a Short Sale right for me?
A: Mortgage lenders are willing to work with borrowers faced with a financial hardship to accept a discounted payoff on a mortgage. If you are faced with a hardship that makes it likely you will be unable to meet your obligation on your mortgage, most lenders would prefer to settle the matter as opposed to taking the property through foreclosure.
Q: How late in the foreclosure process can you start a Short Sale?
A: Depending on individual state law and regulations, a foreclosure can proceed as quickly as 35 days from the date the notice to the borrower is filed. For that reason, time is of the essence and you should contact us immediately for a free consultation.
Q: How do I get started on a Short Sale?
A: It’s easy. You simply click on the “Get Started” button on our homepage and fill out the contact form. There is no charge or obligation. A specialist will consult and advise you of each option available and requirements for next steps. If you decide you don’t want to move forward, you may discontinue the process at any time.
Q: What documents are necessary to proceed with a Short Sale?
A: The documents necessary to proceed with a Short Sale will depend on the lender. Specialists will help you with each and every step, including the paper work.
Q: What sort of hardship would my lender consider legitimate?
A: This varies by lender and is determined by the mortgage company considering the Short Sale request. Generally, as long as the hardship is real and the mortgage company believes the loan is likely to become delinquent as a result, the Short Sale request will be processed by the Loss Mitigation Department. A big key to getting Loss Mitigation to accept a hardship is to submit a strong hardship letter. The hardship letter sets the tone for the entire file. Below you will find a list of “hardships” that are common and frequently accepted by mortgage lenders:
- Family illness or injury
- Illness or injury in the extended family – particularly if it forces relocation
- Job relocation when the property is equity deficient
- Job loss or significant income loss
- Divorce or split of domestic partners
- Adjustment in mortgage payment or unforeseen increase in living expenses
Q: I am current on my mortgage, will my lender consider a Short Sale?
A: The answer is, maybe. Some lenders will accept a Short Sale file for approval on loans that are not delinquent, others will not accept the file until the loan is delinquent. The best way to determine if your lender will accept a file for approval is to complete and submit a Short Sale package.
Q: Do lenders approve all Short Sales?
A: No. That’s why it is critical to work with someone that has extensive knowledge and experience at getting Short Sales approved. From the presentation of the Short Sale package, working with the lenders Loss Mitigations Department, knowing how to keep the file moving towards approval is a key to its success.
Q: I have two mortgage loans on my home, can I still do a Short Sale?
A: Yes. Your negotiator will work with both lenders to put together a Short Sale transaction. Even if the value of your home is below the balance of the 1st mortgage, an experienced negotiator can get both lenders to cooperate. In the end, neither lender wants to own another home through foreclosure.
Q: Will the lender or servicer require an appraisal on the home in a Short Sale?
A: Some lenders will require that a full appraisal be submitted in the Short Sale package. Others may only require a BPO, (brokers price opinion). The lender will need some formal assessment of the property’s value in order to make a decision to accept or reject the Short Sale offer. This is all done at the lender’s expense.
Q: My house has been on the market for a year. Can you help me?
A: Many homeowners have been helped who could not sell their home because they couldn’t get their Short Sale approved for years. But you must take action, and call, click or hit the get started button and complete the form.
Q: If I sell my home, I have no place to go. Then what?
A: We can provide you with detailed information, services and in many cases get money to help you relocate and start fresh.
Q: I feel in over my head. Am I ever going to get out of this?
A: Yes, we are here to help. This is a temporary low point. You are not alone. We are here to guide you through this difficult period in your life.
Q: Can you answer more of my questions?
A: YES. Please contact us directly at 800-823-3111. We would be more than happy to answer any additional questions you have.