1. Short-Sale & Foreclosure Seminar HALL REALTY GROUP, INC. Hall Realty Group, Inc. 314-878-2300 info@terryhall.net 1

2. What is a Foreclosure? Definition What caused them? Where are they? How many are available? Hall Realty Group, Inc. 314-878-2300 info@terryhall.net 2

3. Finding the Foreclosure What areas in town What price range Finding them through… o Paper o MLS o Lists Hall Realty Group, Inc. 314-878-2300 info@terryhall.net 3

4. Information you try to find out about the Property Is it a Fannie or Freddie? Is it bank owned? How is the contract to be submitted? Hall Realty Group, Inc. 314-878-2300 info@terryhall.net 4

5. Financing the Foreclosure Conventional financing Government financing Hard money financing Cash Using a reverse mortgage Seller Financing Hall Realty Group, Inc. 314-878-2300 info@terryhall.net 5

6. General Questions How many can you be working at one time? How do you get out of a contract? How much money do you have to tie up in the process? Is there a way to speed it up? What are the costs of buying the short-sale? Hall Realty Group, Inc. 314-878-2300 info@terryhall.net 6

7. General Questions Repairs? Inspections? To have or not to have FHA 203K financing How long to close from time of approval? Will the seller pay any closing costs? Will the seller pay for any inspections? Hall Realty Group, Inc. 314-878-2300 info@terryhall.net 7

8. General Questions Does the original owner have a period of right of redemption? Will I receive a clear title in either a short-sale or foreclosure? Am I responsible for unpaid taxes, MSD, mechanics or other liens? What if the original seller won’t leave the house? Will I have to evict? If so, how? Hall Realty Group, Inc. 314-878-2300 info@terryhall.net 8

9. General Questions How would I find out what the seller owes in a short- sale? Why does it matter if the majority are under water/upside down? Do I have to offer at list price for a short-sale or foreclosure? If I don’t, does it jeopardize my chance of getting an accepted offer? Is there any way around the owner/occupied period to purchase? Hall Realty Group, Inc. 314-878-2300 info@terryhall.net 9

10. General Questions If I don’t have 20% to put down, do I have other options for financing? How long does a short sale take? How long does a foreclosure take? Who gets the commission on the sale? Who pays it? Hall Realty Group, Inc. 314-878-2300 info@terryhall.net 10

11. General Questions What kind of paperwork is there? Do I get a 2 nd chance if the first offer does not get accepted? How much do I need? Are loans different for short-sale vs. foreclosures? Is it a sure thing? Can I negotiate? Hall Realty Group, Inc. 314-878-2300 info@terryhall.net 11

12. That’s all Folks! Questions Hall Realty Group, Inc. 314-878-2300 info@terryhall.net 12