|
Our Mission... empower you with the best info & resources for one of the most critical decisions you'll make in your life... buying or selling a home!
|
Find Out About the Latest Homes for Sale First!
We add our newest homes and other real estate listings to this web site first. It can be some time before they appear in the MLS.
Find Out More >
View All Offers >
|
 |
"The best experience we have ever had"
"Working with Chris Allen was the best experience we have ever had with a realtor, and this was our ninth home purchase."
Robert and Jeanne Short - Oklahoma City, Oklahoma
Read Quote >
View All Quotes >
|
 Compare three mortgages at one time.
Download TripleCalc now. It's free. |
The Allen Group are some of The
Top Selling Real Estate Experts™
Find Out More > |
|
|
 |
Let Us Personally Search for a Home that Matches Your Criteria, for Free and Without Obligation. As top Northwest Oklahoma City, Deer Creek, Edmond REALTORS®, we make it our business to be aware of every local home or property on the market. We even know of properties that will be available, but have yet to formally be placed on the market. We have direct access to the Northwest Oklahoma City, Deer Creek, Edmond area MLS (Multiple Listings Service), and also to every other agents in the area and all of their listings. If you give us some idea of what you are looking for, We will personally review all our sources of real estate listing information and send you everything within your price range that matches your criteria. We can save you a great deal of time! This is a totally free service, and there is no obligation. It's part of our job to offer services like this to homebuyers.  Tell us what you are looking for! It's our job to know every property in Northwest Oklahoma City, Deer Creek, Edmond, even ones not listed online. Our personal search for you is FREE and without obligation. Please give us as many details as possible...
Short Sales >1. What Is a Short Sale? A short sale is discussed if the home owner is facing financial hardship and is therefore unable to make payments on the home loan. In the event that the bank or mortgage lender agrees to it, a short sale is an alternative solution when foreclosure is looming. “Short sale” literally translates to selling a piece of real estate just short of the remaining balance of the loan. Because the homeowner finds him or herself in a position where paying the loan just isn’t feasible, the lender will then discount the balance of the loan and the home owner will sell the property and forfeit all of the proceeds to the lender. By doing this, the lender concedes that selling the property at a loss is a better option than continuing to pursue the borrower.
There are four conditions of a short sale:
- The home’s market value is down. This means that the home is worth less than the remaining balance on the home loan. Another way to say this is by saying that the home is "underwater".
- The mortgage is in default or heading that way. A mortgage default occurs when the borrower stops making payments on the loan. At that point, the lender can seize the property from the borrower.
- The home owner encounters hardship like divorce, death or serious illness, unemployment, bankruptcy, etcetera. It is important to note that personal lifestyle choices that cause financial strain are not considered.
- The home owner has no assets. If the homeowner had assets, he or she could use these to make payments on the loan.
How do you know if you qualify for a short sale?
Whether or not a home seller can go through with a short sale ultimately depends on his or her bank or mortgage lender. They have to agree to the short sale process in order for it to come to pass. If the seller’s situation does not line up with the aforementioned four points, he or she may not qualify to sell their home on a short sale.
Any buyer can put an offer in on a home up for short sale so long as they are able to qualify for a loan. It is, however, up to the lender whether or not an offer will be accepted on the property.
|
| Q |
Where is the world's oldest pyramid?
|
| A |
The oldest pyramid is the Third Pyramid of Mycerinus is at El Gizeh, Egypt; it has the largest single block weighing 320 tons. |
 See More Real Estate Trivia > |
|
|
|
|
- NUMBER1EXPERTS™ 
