Darren Hunter

A Denver short sale has many facets, and one of the most important and least understood is the tax implications. There is much misinformation regarding taxation and a short sale so I wanted to highlight the topic and ask that any homeowner with a distressed property contact a CPA or tax attorney to discuss their particular situation.

The headlines are everywhere! ‘April Foreclosures at 40 Month Low', ‘Colorado Foreclosures auction sales down 11.1% in April', ‘Foreclosure Activity Continues Free-Fall in May'. Is there really a downturn in Foreclosure activity? There is a saying ‘Numbers Don't Lie' - but in this case, they sure are masking the situation. Foreclosure numbers ARE down, but they aren't down for the reasons we would hope.

When we sit down with listing agents to discuss a potential deal one of the first objections is the listing agents fiduciary duty to the seller - how can they be true to their duty and still advocate an investor offer. My answer? Who exactly is your client? Fiduciary Duty - A fiduciary duty (from Latin fiduciarius, meaning "(holding) in trust"; from fides, meaning "faith", and fiducia, meaning "trust") is a legal or ethical relationship of confidence or trust regarding the management of money

I get asked by many people about the concept of buying a house for $X and selling it for $Y, on the same day or 30 days later. How do we justify the price change? There is a common misconception that we haven't added any value to the property. This simply isn't true. Properties come in many shapes and sizes. Take a look in your neighborhood - there is a chance that another home has the exact same floor plan as yours, yet the two homes rarely will sell for the same price. Why the variance?

Last time we discussed part of the short sale process in an attempt to avoid Denver Foreclosure. Let's recap - short sales take a long time, something you don't have a lot of if you want to avoid foreclosure on your Denver home. Part of the reason for this is because you have to wait until you have an offer before you can begin and currently you are waiting around 135 on average for a contract. As well, your pool of buyers is reduced because of the uncertain nature of the transaction.

Previously we talked about WHY the bank would consider a short sale, as well as what a short sale. Today we are going to talk about an investor business model that Venator Properties LLC uses to complete Denver area Short Sales.

A short sale is a foreclosure alternative. There are others to be sure - a deed in lieu of foreclosure, renting, loan modification, mortgage forebearance, and bankruptcy to name a few. For some homeowners any of these may be viable options but there are some things to consider in each.

When I sit down with a Denver area homeowner who is in an underwater situation with their mortgage, invariably the first question I am asked is ‘Our home has dropped in value a fair amount, Why would a bank want to do a short sale in the first place?'