Fundamentals of Short Sales

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This course looks at the listing and sale process for short sales. Understand the 411 Basics of the short sale process. Learning how to maneuver the complexities of short sales as well as how to identify the distinct real estate opportunities in foreclosure is critical. This course helps agents evaluate all available options for distressed homeowners and identify the components of an effective short-sale package.

3 Hrs Disclosures

Lessons

2-Understanding What A Short Sale Is

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson A short sale occurs when the net proceeds from the sale of their home are insufficient to pay off the Seller’s loan obligation and closing cost. Closing costs can consist…A short sale occurs when the net proceeds from the sale of their home are insufficient to pay off the Seller’s loan […]

3-Process from Late Payment to Auction/Foreclosure

Length: 5 minutesComplexity: Standard

🔊 Listen to Lesson Process from Late to Auction Date 180 Days What happens after I am 30 days late? What is the Collections or Loan Servicing Department? What happens after I am 60…Process from Late to Auction Date 180 Days What happens after I am 30 days late? What is the Collections or Loan […]

4-TRID-Loan Estimate

Length: 7 minutesComplexity: Standard

🔊 Listen to Lesson TRID? What the heck is TRID? TRID is an acronym of mortgage acronyms.  TRID is a product of the Consumer Financial Protection Bureau (“CFPB”) which assumed the oversight role previously…TRID? What the heck is TRID? TRID is an acronym of mortgage acronyms.  TRID is a product of the Consumer Financial Protection […]

5-TRID-Buyer and Seller Closing Disclosure

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson What are the general requirements for the Closing Disclosure? For loans that require a Loan Estimate and that proceed to close, creditors must provide a new final disclosure reflecting the…What are the general requirements for the Closing Disclosure? For loans that require a Loan Estimate and that proceed to close, creditors […]

5-Section 1 Exam Fundamentals of Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

7-Predatory Lending Fundamentals in Short Sale

Length: 7 minutesComplexity: Standard

🔊 Listen to Lesson Some of the most common financial hardships include: Too Much Debt Unemployment Reduced Income Divorce Death of a Spouse Separation of a marriage Medical Bills Death of a family member Payment…Some of the most common financial hardships include: Too Much Debt Unemployment Reduced Income Divorce Death of a Spouse Separation of a marriage […]

8-Legal Hotline Q & A: Short Sales Part 1

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here After a Short Sale, the Homeowner Is Liable for the Short Sale Difference If…All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here After a Short Sale, the Homeowner […]

9-Section 2 Exam Fundamentals of Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

10-Fundamentals Of Short Sale Listing

Length: 7 minutesComplexity: Standard

🔊 Listen to Lesson Talk To the Seller about Their Options Deed in Lieu A Deed in Lieu of foreclosure is where the borrower conveys their interest in the property to the lender to satisfy…Talk To the Seller about Their Options Deed in Lieu A Deed in Lieu of foreclosure is where the borrower conveys their interest […]

11-Fundamentals Of Short Sale Seller Advisory

Length: 7 minutesComplexity: Standard

🔊 Listen to Lesson Click these Hyperlinks below to see information on websites listed in the  Advisory. 1. Mortgage Fraud Prevention                             …Click these Hyperlinks below to see information on websites listed in the  Advisory. 1. Mortgage Fraud Prevention              […]

12-Fundamentals Of Short Sale Addendum To Listing Contract

Length: 7 minutesComplexity: Standard

🔊 Listen to Lesson This form is required by most brokers to be included in the Listing Contract document that creates the contract between the Seller and the real estate agent. There are provisions…This form is required by most brokers to be included in the Listing Contract document that creates the contract between the Seller […]

13-Legal Hotline Q & A: Short Sales Part 2

Length: 9 minutesComplexity: Standard

🔊 Listen to Lesson All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here Listing Agent Is Not Required to Provide a Third-Party Negotiator His Equator Username and…All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here Listing Agent Is Not Required to […]

14-Section 3 Exam Fundamentals of Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

15-Fundamentals of Short Sale Purchase

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson The purchase contract in a short sale should be contingent upon a short sale agreement, acceptable to the lender, and agreed to by the seller/borrower. AAR has drafted a short…The purchase contract in a short sale should be contingent upon a short sale agreement, acceptable to the lender, and agreed to […]

16-Fundamentals of Short Sale Addendum

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson The Purchase Contract in a short sale should be contingent upon a Short Sale Agreement acceptable to both the lender and the Seller.  AAR has drafted a Short Sale Addendum…The Purchase Contract in a short sale should be contingent upon a Short Sale Agreement acceptable to both the lender and the […]

17-Legal Hotline Q & A: Short Sales Part 3

Length: 5 minutesComplexity: Standard

🔊 Listen to Lesson All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here Buyer’s Agent Can Email Listing Agent to Cancel a Short Sale ISSUE: The Seller…All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here Buyer’s Agent Can Email Listing Agent […]

18-Section 4 Exam Fundamentals of Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

19-Fundamentals of Short Sale VS. Foreclosure

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson Short Sale Vs. Foreclosure Whether you should do a short sale or let the home go to foreclosure depends on several factors. While for some homeowners, it is easier to…Short Sale Vs. Foreclosure Whether you should do a short sale or let the home go to foreclosure depends on several factors. […]

20-Fundamentals of Time to Move After a Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson Deficiency Judgments Lenders may report the short sale to the credit bureaus in various ways – they may report it as “agreed settlement short of full payment,” “Charged-off Account,” “Paid…Deficiency Judgments Lenders may report the short sale to the credit bureaus in various ways – they may report it as “agreed […]

21-Legal Hotline Q & A: Short Sales Part 4

Length: 5 minutesComplexity: Standard

🔊 Listen to Lesson All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here Verbal Rejection by Lender of Short Sale Offer Is Valid ISSUE: The short sale…All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here Verbal Rejection by Lender of Short […]

22-Section 5 Exam Fundamentals of Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

23-Fundamentals of Short Sale Package To Bank Hardship Letter

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson Short Sale Hardship Letter: There are many reasons why a homeowner might fall behind on their mortgage payment. In order to have your lender(s) look at the option of a…Short Sale Hardship Letter: There are many reasons why a homeowner might fall behind on their mortgage payment. In order to have […]

24-Fundamentals on how to write a Hardship letter for a Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson Work with your seller and tell them to: 1. First brainstorm about your hardship. Sit down and write down every idea that pops in your head about why you can’t…Work with your seller and tell them to: 1. First brainstorm about your hardship. Sit down and write down every idea that […]

25-Fundamentals on Short Sale Package

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson All of the documentation needed to start a short sale is commonly called a “Short Sale Package” and this package is usually submitted by the REALTOR® representing the seller, or…All of the documentation needed to start a short sale is commonly called a “Short Sale Package” and this package is usually […]

26-Fundamentals of Comparative Market Analysis for short sales

Length: 6 minutesComplexity: Easy

🔊 Listen to Lesson What is a BPO? BPO is an acronym for Broker’s Price Opinion. In general, the term Broker’s Price Opinion (BPO) is a method that a Real Estate Broker (or an agent…What is a BPO? BPO is an acronym for Broker’s Price Opinion. In general, the term Broker’s Price Opinion (BPO) is a method […]

27-Section 6 Exam Fundamentals of Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

28-Final Exam for Fundamentals of Short Sale

Length: 0 minutesComplexity: Standard

🔊 Listen to Lesson The Final is not timed. Once you have passed this final… For The Fundamentals of Short Sales Remember to PRINT OUT YOUR CERTIFICATE and then you may move on to a new Course.The Final is not timed. Once you have passed this final… For The Fundamentals of Short Sales Remember to PRINT OUT YOUR CERTIFICATE and […]

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