Taking action will at least relieve the "not knowing what to do", so as the others have advised, talk to a local real estate agent that has experience with short sales.
Hi - It depends on the market. A larger down payment is in most cases more favorable, It gives the seller reassurance that you can afford to buy the house and you are serious.There are many factors that go into making an offer on a house--the first is the price of the home - it is priced right -- in line with the current market. Are you in a sellers market or buyers market? What is the average days on market for homes in your area? You should first have your agent run a market analysis so you understand your market. If houses are selling quickly and close to or over list price, the down payment may not make a difference. Every case is different and depends on the seller's situation. You can probably get a better interest rate with more down--but you need to check with a lender to understand their loan programs.Getting pre-approved by a lender would be the first step to take and then get with a Realtor who can educate you on the market.
Because you have time, you can start interviewing Realtors. The best way is to visit open houses. You will have chance first hand to see how they interact with you and others. This gives you an opportunity to get a feel for the communication style and their knowledge of the market.Good LuckLinda
I would ask to see the comps the bank used and compare them to your comps. If your price is market value, then submit your best offer and ask your Realtor to explain the comps you used to arrive at your offer. It is always possible that the person doing the BPO for the bank is not familiar with the area.Good LuckLInda
The answer is "no". Are you short selling because you can't afford your home anymore? have a hardship or because the market value has dropped below what you paid?
You know what they say "you only get one chance to make a first impression and it is usually done within the first 10 seconds". So why not make your home impressive and memorable. Staging has proved to sell homes so much quicker than non staging. Good Luck
The absolute best place is from a real estate agent. We have access to the most accurate data.
You can also ask a Realtor to give you an up to date market analysis, as we have the data and most agents provide this service free.
There are several programs out there. You need to find a lender that is familiar and approved for these programs. While you will need to apply for these programs, your lender should be able to assist you. It sounds as though you need to change mortgage brokers.
Most banks do not deal directly with the buyers and list with a real estate agent to handle the selling/buying process. As all mentioned, you would be better off to get an agent to represent you who can stay in touch with the listing agent so you are alerted when the property goes on the market. While you can go directly to the listing agent yourself, please keep in mind the listing agent works for the seller and without an agent you have no representation.