NAR's Short Sales and Foreclosures (SFR) Certification Course: What Real Estate Professionals Need to Know
Ask any agent and you'll hear that your ability to close short sales and foreclosures depends in part on your confidence in seeing these transactions through. 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 today's market, they are critical.
Short Sales and Foreclosure Resource certification, or SFR for short, gives you a framework for understanding how to:
Safeguard your commission
Negotiate with lenders
Qualify sellers for short sales
Develop a short-sale package
Direct distressed sellers to finance, tax, and legal professionals
Tap into buyer demand
Begin building your confidence today with the SFR certification!
Impact on the Consumer-Deficiencies: Recourse or Non-Recourse Loans
Impact on the Consumer Tax and Credit Implications
The 2012 National Mortgage Settlement
FHFA Standard Guidelines for Fannie Mae and Freddie Mac
FHA and VA Guidelines-FHA Preforeclosure Sales Program Overview
FHA and VA Guidelines-VA Compromise Sale Program Overview
When Your Client's Decision is to Attempt a Short Sale: Your Next Three Steps-1. Determining How Much is Owed and Estimating Net Equity.
When Your Client's Decision is to Attempt a Short Sale: Your Next Three Steps-2. Confirming There is Sufficient Time to do the Short Sale.
When Your Client's Decision is to Attempt a Short Sale: Your Next Three Steps-3. Confirming that the Homeowners are Willing to do Their Part.
Taking the Listing-Initial Paperwork
Taking the Listing-Determining Who Owns the Loan
Pricing Short-Sale Listings
Commission Concerns-Offer of Compensation
Commission Concerns-Guidelines and Common Lender Requirements
Contact with Loss Mitigation
Questions That Sellers Ask
Other Fraud Issues
Chapter 3: Counseling Buyers
Ideal Buyers for Short Sales
Questions to Ask Listing Agents
Writing the Short-Sale Offer-Price and Length of Time for Lender Approval and Closing
Writing the Short-Sale Offer-Earnest Money, Home Inspection, and Mortgage Applications
Contract Acceptance-Negotiating Subordinate Liens and Mortgage Insurance (MI)
Contract Acceptance-Common Lender Requirements
Why Short Sales Fail
Chapter 4: Components of an Effective Short-Sale Package
Purpose of the Short-Sale Package
Contents of a Short-Sale Package-Proposal Letter, Table of Contents, Short-Sale Application, Authorization to Release Information, Financial Information, and Supporting Hardship Information.
Contents of a Short-Sale Package-Comparative Market Analysis, Marketing History, Repair Estimate for the Property, Contract and the HUD-1
Short-Sale Problem Solving
To receive the SFR Certification, you must complete the one day core course (live lecture or online)and successfully pass the exam, as well as view three 1-hour Webinars (available free of charge), and submit completed application ($175 application fee). Learn more >
A successful completion of this one-day course also meets the elective course requirements for the ABR® Designation awarded by the Real Estate Buyers Agent Council (REBAC). For more information about the ABR® Designation, visit http://www.car.org/education/designations/abr/.
Who should attend:
Designed for real estate professionals at all experience levels. Learn more >
Instructor: George Lawrence Ginni Field Nate Ellis
PropertyRadar® offers you proven strategies to find motivated sellers in today's market by creating and validating farms. Get access to properties in California using over 100+ search criteria to create an unlimited amount of farms and leads that get saved in a constantly updated database, including the word's best foreclosure search. PropertyRadar is the platform that helps REALTORS® find opportunities, lower risk and increase productivity in today's market.