Updated: Nov 14, 2020
If your loan is a Freddie Mac loan and you are looking for information regarding short sales, the steps with beginning a potential short sale is to contact an experienced real estate agent, https://www.needshortsale.com/book-online that has experience with short sales. An experienced agent will be able to set the price for your home since Freddie Mac is not involved in setting the price for the property. The listing agent will prepare a CMA (Comparable Market Analysis) for your property to set the price. Once the agent and the seller set the price, listing the home is next and once you get a contract, the agent will submit to the servicer, (the company that is servicing your loan) . The servicer will have a valuation ordered and if the sale meets or exceeds the Freddie Mac minimum net proceed amount, the servicer will be able to approve the short-sale contract price and the seller can proceed with the transaction.
Stella Barbour Principal Broker
NoVa Brokers, LLC 1483 Chain Bridge Road Suite 103 McLean, Virginia 22101-5703 571-814-3002 OFFICE 703-999-6104 CELL 571-281-2866 FAX
Serving Maryland and Virginia
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