|
|
|
Short Sales and Foreclosures |
|
Course Credit: |
Counts as one REBAC elective course to be applied towards the ABR® designation |
|
Course Duration: |
1 Day |
For many real estate professionals, short sales and foreclosures represent the new ìtraditionalî real estate transaction. Knowing how to maneuver the complexities of short sales as well as how to identify the distinct real estate opportunities in foreclosure are not merely good skills to have in todayís marketóthey are critical. This course helps students evaluate all available options for distressed homeowners and identify the components of an effective short-sale package. This course looks at how real estate professionals can counsel buyer-clients in the purchase of foreclosure properties. And as a practical resource, this course shows students how consumers can avoid foreclosure in the future.
|
Short Sales and Foreclosures |
Chapter 1: Homeowners in Jeopardy
Define the term foreclosure
Discuss how foreclosure impacts the distressed homeowner, neighbors, and surrounding community
Understand the steps in the process of foreclosure
Explain the roles of the real estate professional in helping distressed homeowners
Chapter 2: Options for Distressed Homeowners
Examine the options available to distressed homeowners, including refinancing, selling and bringing cash to closing, lender workout,
short sale, deed in lieu of foreclosure, foreclosure, and doing nothing and walking away
Chapter 3: Anatomy of Short Sale
Understand how to qualify sellers
Answer frequently asked questions
Discuss listing agentsí commission concerns relative to short sales
Explain how to counsel buyer clients who want to pursue a short sale
Chapter 4: The ShortñSale Package
Identify the components of an effective shortñsale package
Understand why short sales fail
Chapter 5: Foreclosed and Real Estate Owned (REO) Properties
Differentiate judicial foreclosure from nonjudicial foreclosure
Understand the process of sheriffsí sales
Explain the steps in listing REO properties
Understand how to counsel buyers who wish to pursue REO properties
Identify the negotiation and contract issues for REO properties
Chapter 6: Finding Distressed Property Opportunities
Discuss how to attract buyers of distressed properties
Explain how to find shortñsale listings
Understand the considerations in listing REO properties
End of outline