4 Acronyms You Need to Know with Regards to Charlotte Short Sales

Charlotte NC Short Sales

Successful Short Sales in Charlotte: 4 Acronyms You Need to Know Knowledge is power. That’s true whether you’re running a Fortune 500 Company or involved in a short sale in Charlotte NC.  Whether you’re the buyer or a seller, working with short sales or any distressed properties can be a bit of a challenge.  We’re here to help minimize the stress involved in the short sale process. To increase your level of knowledge and success when working with short sales in Charlotte, here are the definitions and important information for four acronyms: BPO: This stands for Broker Price Opinion A BPO … Continue reading...

Charlotte Foreclosure Listings Explained

Charlotte NC Foreclosures

Why Are The Foreclosure Properties That Charlotte Home Buyers Find NOT For Sale? Q:  I recently found this property listed as a foreclosure on a national real estate site.  Can I see this property?  I have cash and am ready to buy it TODAY! A:  The property in which you are inquiring is either bank-owned or quite possibly, not for sale now, nor will it be in the foreseeable future.  Information that you have found from online aggregate sites often mistakenly advertise that the bank has foreclosed on a particular property. That property, if it is bank-owned, will be placed on the market just … Continue reading...

Home in The Reserve – SOLD!!!

Homes for Sale in Marvin Ridge School Zone

Just SOLD! 5BR/2.5BA  Home  $250,000 (list price) $265,000 (multiple Offers/sales price) MLS# 2033927 Stunning home in Waxhaw’s most sought-after community, The Reserve.  Open floorplan with all of the bells & whistles, including granite countertops & gleaming wood floors, ceramic tile, 42” maple cabinets, upgraded kitchen sink and faucet, blinds throughout and upgraded lighting. Soaring 2-story foyer & greatroom, fabulous gourmet kitchen with breakfast bay that opens to deck overlooking backyard, luxurious master suite with huge walk-in closet and lots of windows that make this … Continue reading...

JUST LISTED in The Reserve in Waxhaw – SHORT SALE

2800 Tuscarora Lane Waxhaw NC HOME FOR SALE IN WAXHAW

JUST LISTED in The Reserve in Waxhaw - SHORT SALE Stunning home in Waxhaw’s most sought-after community, The Reserve.  Open floorplan with all of the bells & whistles, including granite countertops & gleaming wood floors, ceramic tile, 42” maple cabinets, upgraded kitchen sink and faucet, blinds throughout and upgraded lighting. Soaring 2-story foyer & greatroom, fabulous gourmet kitchen with breakfast bay that opens to deck overlooking backyard, luxurious master suite with huge walk-in closet and lots of windows that make this home bright and welcoming are a few of the highlights … Continue reading...

Charlotte Short Sales and Tax Implications

Charlotte NC Short Sales

Charlotte Short Sales and Tax Implications June 13, 2011 By Melissa Zavala I had an agent ask me today about the tax implications of a short sale. He said that his seller was concerned about both the tax implications and future liability for the debt forgiven and was in the process of investigating both issues.Caveat: I’m not an attorney or an accountant. I don’t even play one on tv. So, if you or your short sale sellers really want the skinny on the tax implications of a short sale, my best advice is to speak with a reputable accountant or tax attorney.  That being said, I have no … Continue reading...

Why Does a Charlotte SHORT SALE Seller Even Care if You Write a Low-ball Offer?

Charlotte NC home buyer tips

Buyers and even, more often than we would like to see. their agents don't understand why a seller would care at all about the Offer which they receive on their short sale home for sale.Why would sellers care about the Offer they receive on their Charlotte short sale home for sale?First of all, let's be clear about the definition of a short sale: A short sale occurs when the seller does not have sufficient proceeds to pay off their mortgage.  In order for the transaction to be completed, the bank either has to "forgive" the debt or allow the seller to turn the deficit into a personal loan to be … Continue reading...

Are You Facing Financial Hardship? Upside-Down on Your Mortgage?

Are You Facing Financial Hardship?  Upside Down on Your Mortgage? Have the recent economic changes caused you to spiral into a financial hardship? Do you owe more on your Charlotte NC home than it is worth and  simply cannot make that mortgage payment?  Are you upside down on your Charlotte NC mortgage?  If you have recently suffered a hardship, or have arrived at the point that you just can't keep up any longer, contact a short sale expert in Charlotte NC to assist you. Our team represents sellers who are experiencing unfortunate events in their lives and need a remedy to prevent their … Continue reading...

Questions and answers regarding short sales in Charlotte NC

Short Sale Q & A - This Process is Taking TOO Long, What is a Buyer to Do? From a short sale buyer: Q - I have had a purchase agreement on a short sale property since August 14th of 2009 and I still haven't received an answer from the bank.  They keep telling us we will have an answer in approximately 1 week; then a month will go by and we still hear nothing.  What can I do to help move this process along as the purchaser? A -First of all, you are incredibly patient!  There are several things that could be wrong here but, unfortunately, you have no control of the situation--no way to … Continue reading...