David Keyser

Houses for Rent, Other Rentals, Single Family Residents for Sale, Residential Homes

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

But to be technical… Show more

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

But to be technical, here's a more official definition:

A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.
For homeowners to qualify for a short sale, they must fall into all of the following circumstances:

Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.
This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. Find a CDPE in your area by clicking here. Together, you can identify all possible options and, when possible, a CDPE can assist you in the quick execution of a short sale transaction. Show less

Often times, buyers look to purchase a home that is in foreclosure or short sale. To make these homes livable, it needs to be renovated. Recently a first time buyer client of mine made an offer on a house for $105,000. The offer was accepted. The house needed a roof, electrical upgrades, finish carpentry, wall repair and other bank required work items totaling $30,000 in order for the first mortgage, an FHA loan, to approve the mortgage. The buyer applied for a 203K loan, another FHA… Show more

Often times, buyers look to purchase a home that is in foreclosure or short sale. To make these homes livable, it needs to be renovated. Recently a first time buyer client of mine made an offer on a house for $105,000. The offer was accepted. The house needed a roof, electrical upgrades, finish carpentry, wall repair and other bank required work items totaling $30,000 in order for the first mortgage, an FHA loan, to approve the mortgage. The buyer applied for a 203K loan, another FHA product, streamline loan to pay for the repairs. The bank required quotes from qualified contractors and eventually a signed contract for the repairs. I worked with my client to find such a Contractor and we moved forward with qualifying the work, schedule and price of the repairs. Once the bank accepted this, we moved forward to a closing. During the qualification process, the house was appraised for $167,000. They buyer closed on the loan realizing $37,000 in positive equity the day she closed. The work was completed within 40 days, and she moved into her 1st house with a new roof, newer furnace, new electrical system and many other upgrades.

This took a lot of hands on service. Choosing the right team is imperative to such a successful transaction. Choosing the right contractor who is experienced with the FHA 203K loan process is key to success. Working with the right mortgage broker who understands the 203K loan as well as the FHA loan products. Choosing the right Lawyer to handle the closing. Also choosing a good FHA Inspector is important as well. The point is a good agent must assemble the right team to deal with the buyer and the bank to complete the transaction. The Realtor must coordinate all this and promptly respond to all involved as the loan moves toward closing. Many times, the Realtor must educate the buyer on just how the process works.
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Christine Sedita -
A lot of people ask me how I bought a home. The best thing you can do is call a real estate agent that could go over your options. There are a lot of home buying options. There are great benefits for buying your first home that you may not be aware of. Contact a real estate agent and learn about all of the possibilities. You don't have to have perfect credit, and there are different options. You'd... be surprised at how close rent is to a mortgage. I highly recommend… Show more

Christine Sedita -
A lot of people ask me how I bought a home. The best thing you can do is call a real estate agent that could go over your options. There are a lot of home buying options. There are great benefits for buying your first home that you may not be aware of. Contact a real estate agent and learn about all of the possibilities. You don't have to have perfect credit, and there are different options. You'd... be surprised at how close rent is to a mortgage. I highly recommend David J. Keyser. In most cases you do not pay a real estate agent when you're a buyer. So don't be afraid to call and get more information. Getting pre-approved by a bank can also help, but talking to a real estate agent about who to contact can be the best thing you've ever done. Dave helped us find our dream home for an astounding price, with the best interest rate in 30 years. He connected us with some great professionals to help us get our lives started. There was no pressures to buy, and he looked for the features we dreamed about in a home. I highly recommend David because he's very friendly, informed, professional and he truly cares about YOUR needs first. He truly knows Connecticut and all of the best places to live. You wont find a more caring, personable real estate agent. Show less