Helping you find a solution is what we pride ourselves on and for over 40 years sellers have trusted SSTW to have their back! Our team is a conglomerate of real estate problem solving experts that negotiate everything from parking tickets to tax liens and judgments. By working with SSTW you give yourself access to the best legal and expediting services in addition to post closing services, such as relocation or credit restoration.
We are brokers to the core who understand the culture and expectations of Real Estate Agents and Brokers. By choosing to work with SSTW, you give yourself more time to focus on generating new business while SSTW coordinates the moving parts and resolves potential hazards of your transaction. Successful realtors leverage our knowledge and experience to help them problem solve every challenge that might arise. Executing an efficient and timely closing is our top priority.
Both senior and junior investors leverage SSTW as their advisor because of our multi-dimensional knowledge surrounding a short sale transaction. Over the last 25+ years our team has successfully battled every real estate investing challenge imaginable and built lasting relationships along the way. We look at each investment as an opportunity to grow relationships for many years to come. As fellow real estate investors, we understand your metrics!
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No there is no cost to the homeowner. Commissions and legal fees on behalf of the homeowner are paid by the lender. All experienced negotiators will also include junior liens, monetary fines for violations and personal judgements.
Yes it is not uncommon for lenders/servicer to allow up to $10,000 in relocation expenses to the homeowner for participating in a short sale. Buyers can also offer incentives to the seller that must be disclosed to the lender for approval.
The answer is both yes and no. Many factors come into play here that may have nothing to do with the price and everything to do with the contract of sale and the conditions of the commitment imposed by the originating lender. This is a case-by-case scenario.
A diligent processor or negotiator can get the bank to adjourn a scheduled auction by simply allowing sufficient time to process actions. The homeowner can also be assisted by council to file an order to show cause or bankruptcy petition or as otherwise advised by council.
Investors are aware that certain short sales have different underwriting guidelines that are outlined by the investor or mortgage insurance companies. SSTW has immense knowledge about these guidelines, their time frames, paperwork and minimum percentage values that investors will accept. We can provide realistic data to real estate investors even before an approval is generated.
A short sale happens when the seller’s ability to repay the loan has been diminished and when the property has been reduced due to market conditions, damage or wear and tear.
On a short payoff, the mortgage is current and the seller still has the ability to repay the loan but the property is underwater. The seller may opt for a negotiated deficiency.
Here are a few Frequently Asked Questions. They are meant to give you some answers to questions we get every day.
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As a new york real estate investor having, knowledgeable professionals handle your transaction is of paramount importance. SSWT has delivered for me more than once. They understand that time is money, and performance must be optimum. Most of all, they understand Real Estate Investors' margins and when a transaction is a decent investment, and when it stops making sense. I will not hesitate to work with them again.
I have been a New York real estate broker for several years. I have always avoided listing homes that were over-leveraged or plagued with violations and fines that would be problematic to resolve. It makes no sense to do all the work to find out weeks or months later that the transaction cannot close. After associating with SSWT, I was amazed at how much commission I was leaving behind. Also, the mortgage servicers/banks pay a full 6% commission every time, and every homeowner that wants to exit a foreclosure situation is a prospect.
NSPC has provided tremendous relief to me. Non-paying tenants caused me to fall behind on my mortgage payments. The tenants maliciously damaged the property and called the city repeatedly, which resulted in numerous court appearances and over $200,000.00 in violations. NSPC successfully negotiated with the city of new york and my mortgage lender to allow a pre-foreclosure short sale. I am now stress-free, foreclosure free, and violations free. I am relieved.
After my husband passed away unexpectedly, I could not afford to pay the mortgage on our home in Westchester County, NY. the week before the house was scheduled to be auctioned, I was at my wit's end. I was all packed with no place to go! Fortunately, I came in contact with one of the team months members NSPC, and they were able to stop the auction one day before the auction. This bought me ten more months in the house.The IRS and NYS tax liens against my husband's estate proved to be problematic. Luckily, the knowledgeable staff at NSPC worked tirelessly with these entities and mortgage banks to facilitate a Short Sale. The lender approved relocation assistance that enabled me to relocate my family elsewhere. I can not thank them enough!
It took the mortgage bank more than ten years to foreclose on my property. This was a complete horror show that repeatedly exposed me to harm and liability. Numerous complaints, vandalism, police reports, violations, squatters, and illegal occupants created a nightmare for myself and my neighbors. I am thankful that NSPC has the knowledge and resources to address and resolve all those as mentioned above. their property preservation team secured the property. Their expediting team resolved the violations, and their Short Sale team prevented a foreclosure from being recorded on my credit report. Finally, their post-closing team helped me restore my credit in the shortest possible time.
Those SSTW are amazing, they worked with me and my family to get the job done in a timely and professional manner. My children finished the school year on que and my relocation to Florida was arranged and waiting. This seamless transition took the uncertainty, stress and frustration out of my life as a homeowner facing foreclosure.