Short Sales and The Short Sales Process in Glen Allen, Virginia
Homeowners in financial distress often consider two primary options for disposal of their property: short selling and foreclosure. Foreclosure involves allowing the bank to take possession of the property, and is considered a full write debt write-off by creditors and will negatively impact the homeowner’s credit report. Short sales can prevent a property from entering [...]
How to Determine Rental Rates for Real Estate in Richmond, VA
Determining the market rate for Rentals in Richmond, Virginia is not too difficult. But, many owners and landlords in the Richmond area base what they charge for rent on two things: 1.) what other places are renting for (i.e comps) 2.) their cost basis or income expectations for the property. But, to achieve steady income and [...]
Things You Need to Do A Short Sale in Richmond, VA
A. THE SHORT SALE PACKAGE The client will need to bring to my office the following items before action can be taken: 1. Hardship letter – must reference property, loan number and creditor. Should request short sale approval and not loan modification. Must be signed by each borrower. 2. Itemization of monthly income and expenses. [...]
