We have successfully negotiated Short Sales since 2007.
If you are struggling with your Las Vegas home and would like it sold, however can not afford to pay out the difference, let our team of experts help you resolve this burden.
How a Short Sale Can Help You?
A successfully approved short sale can be a blessing.
The usual alternative is foreclosure- and it’s nothing you want to have happen to you.
What’s so wrong with foreclosure?
As Robert Irwin wrote :” Think of elephants. The old adage is that an elephant never forgets- it has a terrific memory. Injure an elephant in its youth, and, according to those who should know, if will remember you with animosity its entire life. Lenders are something like that when it comes to foreclosure.”
When you lose your property to foreclosure, it is always reported to three major credit agencies (Experian, TransUnit and Equifax) and remains on your credit report at least 7 to 10 years. When trying to obtain a new loan you will have to answer YES to questions C in Section VIII of the standard loan application that asks :”Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 YEARS?’ As of now, there is no questions related to a Short Sale. In addition in Nevada, even after foreclosure, the bank may come after you for the remaining balance, in a Short Sale you might qualify to get a full release from the bank.
Here is an outline of how the Short Sale process is carried out:
First many banks are requiring your Henderson property be listed for at list 30 to 60 days before they will consider a short sale, we will make sure your property goes on the MLS immediately.
After the first 15 days we will adjust the price weekly until we get offers, thus establishing a market value, backed by multiple offers.
We will choose the highest and best offer together and submit this to the bank along with a short sale package (basic financial info, hardship letter)
Our Short Sale department will complete your short sale package and start negotiations with your bank.
What we do for you:
- Preparation of the short sale package and ensure all documents are complete/signed/dated
- Send the completed package to all institutional lien holders
- Confirm the complete file was received and uploaded to their system
- Follow-up with the lenders on a DAILY basis to confirm:
- The file was received in full and has been uploaded to their system in a timely matter.
- The file has been assigned to a negotiator/processor
- The lender representative orders the BPO/appraiser
- Follow up once the value has come back and negotiate the terms of the transactions with all lien holders.
- We are willing and able to solve complicated problems that may arise during the transaction
- We stay with your file daily until the lender feedback has become final and short sale approval letters have been received
- Find a happy medium for the bank to be satisfied with your loan for today’s market value.
- Get approved and move to sell your Henderson property
Please feel free to contact me 702-499-0011 if you have any questions regarding the short sale process.
DAY 1- Preparation and recordation of Notice of Default and Election to Sell. Election/Waiver of Mediation form sent to Homeowner along with copy of the Notice of Default.
WITHIN THE NEXT 10 DAYS- Notice of Default must be mailed to the Trustor/Owner and all junior Lien Holders by Certified Mail, including any guarantors.
1ST DAY AFTER MAILING- Commences the 35 reinstatement period.
DAY 30- Election/Waiver of Mediation Expires
DAY 35- Reinstatement rights expire at the end of working day.
AFTER 3 MONTHS- Trustee’s Sale can be established
PUBLICATION- Notice of Trustee’s Sale must be published in the legal newspaper where the property is situated AND where the sale is to be held, once a week for three consecutive weeks.
25 DAYS PRIOR TO THE SALE DATE- Notification to the IRS (if applicable)
AT LEAST 20 DAYS PRIOR TO THE SALE- Notice of Sale must be sent by registered mail to all parties entitled there to. Notice must also be posted within with County where the sale is to be held and where the property is situated.
1 WEEK PRIOR TO SALE- Establishment of the minimum bid for sale. This amount includes all principal, interest, advances and costs
SALE DATE- Barring any actions to enjoin the sale, the public auction is held and property is sold approximately 120 days from the recording of the Notice of Default. Anyone interested in bidding at the sale must attend with Cash or Certified Funds to be qualified to bid.
AFTER THE SALE- Trustee’s Deed will be prepared and recorded.
Successful Short Sale Stories
Wells Fargo Short Sale- Successfully Approved
“Customer service is what it is all about today and Realty Boutique is definitely the place to get the best services.
Recently, we needed to find the right company to handle our closing on a Las Vegas short sale on our high rise condos while living elsewhere. After receiving several recommendations, we began discussions with Realty Boutique. My husband felt from the start that Realty Boutique would take all the right steps and complete the job to our satisfaction.
Senia Kiseleva and her staff were nothing short of professional, efficient and effective in guiding us through the hoops of the short sale and escrow closing on our high rise condos. Their deep knowledge of the banking process and regulations proved to be invaluable. Also, at any time we knew what was expected from us and received all documents timely. Senia and her assistant, Nickole were either emailing the information required to us daily or on the phone directing us what to do next.
It was a pleasure to work with such a group of professional people; knowing our information was not only handled without delay but also safe and secure.”
–Aaron & Patricia, MGM Signature Combo Units, Short Sale Clients
Bank of America Short Sale- Successfully Approved
We bought our property at the Cay Club in 2006 as an investment for $269,000. At the time it seem to be a great investment. As the market declined we found out that the property we purchasedfor an investment turned out to be basically fraudulent.
As time passed maintenance cost kept going up as did foreclosures. We did the best we could to keep up with our mortgage
and maintenance. We were ready to stop making payments on the condo when we were introduced to Ksenia and she advised us to try for a short sale.
We had an offer for our unit for $25,000 and the bank inspected our property and said $35,000.
Ksenia had another client that was willing to pay $35,000. and within a month we closed on our property.
Short sale for us was the best option. We have always had our credit rating in the 800′s and were just honest people
trying to keep up with our payments. What it came down to was either foreclose or do a short sale.
Doing a short sale has hurt our credit somewhat, however, not the way foreclosure would have.
Ksenia worked with us and was available for us 24/7.
If you need a recommendation or any questions, I would be happy to talk to you about our experience.
Ksenia has our number.
Carol & Ron Donofrio
SPS Loan Servicing Short Sale- Successfully Approved
January 6, 2010
To Whom It May Concern:
I am writing this reference letter for Ksenia Kiseleva.
My husband and I had the great fortune of being recommended to Ksenia Kiseleva.
Speaking with Ksenia on the phone, we knew she was the right Realtor for us.
Living in Michigan and trying to sell our home in Lake Las Vegas, NV. (Would be a challenge)…
Ksenia has been an excellent REALTOR representing us at every step and was willing to meet every challenge.
If we had any questions she was there “big or small” I never felt that I was a bother or that she was too busy for me, even when I was calling multiple times a day. She was always there to serve us and help us every step of the way.
I highly recommend Ksenia Kiseleva to you. She is an honest, straightforward, and loyal REALTOR- who will truly look out for your best interest and best price for your house weather you’re selling or purchasing a house.
We will gladly refer you to anyone seeking real estate assistance.
Ksenia, we thank you for all your hard work and for your friendship
Robert and Kim Heger
EMC Short Sale- Successfully Approved
Thanks again for all of your efforts. I have copy and pasted the update to my credit report as shown below. We can only hope to be able to do that with our “…”Florida condo as well. Feel free to use us as a reference and to copy and paste that credit update as you wish.
The following changes were reported for your EMC MORTGAGE account:-
Account Status Changed from At least 120 days or more than for payments past due to Pays account as agreed
Balance Amount Changed from $245,015 to $0
Comments on your account changed from Foreclosure process started , Real estate mortgage to Settlement accepted on this account , Closed or Paid Account/Zero Balance , Pd/Closed”