Charlotte NC Short Sales

What is a Charlotte NC short sale?

A short sale means selling your property for less amount than what you actually owe on your mortgage.

Now, this is not a rock bottom real estate situation, most experts say it is a lot smarter than pursuing more serious measures like foreclosure or bankruptcy. If you can’t find the relevance of this, you may be surprised to read these benefits:

• Your credit will not be hurt as much as it will be with a foreclosure.
• You will be able to apply for a loan to buy a new home much sooner with a short sale than with a foreclosure.
• You will be able to stay in your home until you close on the short sale.
• All of your closing costs including the real estate commissions will need to be approved by your mortgage lender because they are the ones taking the loss. So they want to make sure they mitigate the loss as much as they can.

You will need the advice, support, and negotiation skills of a short sale expert like Nancy Braun, Broker/Owner of Showcase Realty in Charlotte NC.

I, Nancy Braun, and my team serve as trailblazers in Charlotte, NC and I’m happy to say we set the bar when it comes to services that stand out from the rest. My team and I, who specialize in short sales as one of our areas of expertise, will not just provide you with one agent but a whole team of professionals, for a quick and faultless sale.

We do all the heavy lifting!

How to qualify for a Charlotte NC Short Sale

Not all homeowners can qualify for a short sale. Let’s check some of the guidelines so you can determine if you can take advantage of this option:

1. Your property is under water. Your property’s worth has to be less than your loan outstanding balance. We can provide a free home valuation so you will know how much your home is worth!
2. Mortgage in or near default status. If you’ve missed payments, and you’ve explored other options, such as a loan modification, and you still don't have a resolution, then call me for a totally confidential phone consultation. We will go through your options together.
3. You’ve proven financial difficulties.  You must be able to submit a “letter of hardship” explaining why you can’t continue paying and why you won’t be able to pay the difference when you sell your property.

Examples of financial hardships:

• Illness
• Divorce
• Death
• Loss of job

Doing a Short Sale May Test Your Patience

As we work together, we will inevitably receive crazy and ridiculous lowball offers. The most important decision that you need to make is to “make a decision”. Do not avoid confronting the financial consequences of defaulting on your mortgage.

Consider all options available and when none of them will work, you will get the assistance that you deserve as you move forward from this chapter in your life. We’re excited to see you unfold better opportunities in the future! Check our proven track record and you’ll see we know the short sale process!

Call me, Nancy Braun, at 704-997-3794! This is the silver lining you’ve been waiting for!

In case you can not view this video here, please click the link below on my YouTube channel: https://youtu.be/NcMV0pDH4XA

How Probate Works in North Carolina and South Carolina

A probate sale happens when a homeowner dies without a will bequeathing the house to an heir. In order to liquidate the asset, an estate attorney or representative sells the property and distributes the money to family members.

The probate process involves determining the validity of a will, documenting the property of the decedent, ensuring taxes and debts are paid, and distributing assets under the will or state laws.

Is probate the same in every state?

The rules that govern each state are different, so probate of a real property can vary from state to state.

Probate of real property in North Carolina

Unlike many other states, real property in North Carolina does not typically pass through a probate. When a decedent dies with a Will and explicitly named an individual who they wished to receive the property, then upon probate of the Will, title to the decedent’s non-survivorship real property becomes vested in the devisees of the will.

In the event the decedent did not have a will, probate laws dictate how the decedent’s assets should be distributed. However, probate isn’t always required. It will depend on the type of assets the decedent owned.

If an estate falls below a certain threshold, it is considered a “small estate” and doesn’t require court supervision to be settled.

Some of the most common kinds of assets that pass without probate are Joint Tenancy Assets, Tenancy by the Entirety or Community Property With Right of Survivorship, Beneficiary Designations, and Payable on Death Accounts/Transfer on Death Accounts.

The executor may petition the court to request permission to bring the real property into the estate to sell if the estate’s debts exceed its remaining assets. The sales proceeds will be used to help satisfy the remaining debts of the estate.

If the decedent includes language in their will explicitly conveying the property to the executor and granting the executor permission to sell, then executors are exempted from requesting permission.

Probate of Real Property in South Carolina

In South Carolina, Real Property is a probate asset and passes through a decedent’s estate.

The first step is to determine if a court action is required. A formal or informal action is required when the decedent owns individually-held property without a beneficiary designation that exceeds a certain dollar amount, currently $25,000.00 or real estate.

If all of the decedent’s assets are all non-probate then no South Carolina probate administration is required.

If probate administration is necessary, it can occur with a Will or without a Will. If the decedent died with a Will, the executor designated in the Will may request that the Will be admitted by the court and that he or she be appointed as the Personal Representative of the estate.

If the decedent died without a will, a family member or other interested party will petition the court to be appointed as Personal Representative of the decedent’s estate and the estate will pass in accordance with what South Carolina law provides.

In addition, unlike North Carolina, South Carolina does not have tenants by the entireties property. Instead, most property is held as tenants in common. A 50% undivided interest owned by a deceased spouse will pass through probate of the deceased spouse’s estate.

Probate of a real property can be a complex process. We at Showcase Realty are ready to assist you!

Call us today at: 704-997-3794, or email OfficeAdmin@ShowcaseRealty.net. We look forward to serving you.

**In case you can not view this video here, please click the link below to view How Probate Works in North Carolina and South Carolina on my YouTube channel: https://www.youtube.com/watch?v=QESFtyXGnUM&feature=youtu.be** 

How to Leave Your Home to Your Child?

A couple approaching retirement age were hoping to sell their current home and purchase a new one with their daughter, who is a single mother. They believed that living together would be the best plan, but they’re unsure about the best way to get a mortgage and take title to the property?

As a solution, it is suggested that the daughter buys the home in place of her parents, and keeps the home in her name. To do this, the parents might consider using the cash from the current property sale and lending it to their daughter to buy the new home in her name. The parents would receive the deed of trust or mortgage and create terms and conditions on the loan.

This would be considered a win-win situation, as the parents would have monthly mortgage payments and the daughter would be getting a house. It’s possible that this would result in a better rate of return by lending the money to their daughter.

Therefore, the title would say:

The entirety of one half of the property stands for husband and wife as tenants, and as joint tenants right of survivorship with the other half owned by their daughter.

Doing this will allow the daughter to automatically become the owner of her half of the property in the case that the wife or husband dies, and she will have full ownership of the home at the death of both husband and wife. Because the agreement is under “Joint Tenants”, there will be no need for probate unless assets are to be distributed. If in the event the daughter dies first then the parents will automatically own both halves.

Estate Planning documents needed:

• Last will and testament
• Durable power of Attorney, naming someone to step into your shoes in case one of you becomes incapacitated
• Durable power of attorney for health-related issues
• Living will, also known as an Advanced Directive
• Estate planners may recommend a fifth document, a specific power of attorney for financial purposes

An estate attorney must also be consulted in cases such as this to give you a more detailed information and proper guidance on the best way to resolve issues.

Was this information helpful to you? The Showcase Realty team is committed to providing you with a seamless service to manage your probate, trust or conservatorship sales transactions.

For any help with probate services you may inquire, please feel free to call us at 704 997 3794 or send us a message here to speak with one of our qualified real estate consultants.

**In case you can not view this video here, please click the link below to view "How to Leave Your Home to Your Child?" on my YouTube channel: https://www.youtube.com/watch?v=2Ww1Lku0jTg&feature=youtu.be** 

UNDER CONTRACT! 9036 Holland Park Ln Charlotte NC 28277 | Home for Sale

A move-in ready home perfect for fun, retreat, and relaxation

If you are looking for a suburban haven, this two-story Charlotte home for sale offers the retreat and space you are looking for.  Situated in the highly desirable community of Southampton Commons, it offers the lifestyle you have been longing for - comfortable, peaceful and close to many conveniences.

It features 1,624 square feet of living space, with 3 bedrooms, 2.5 bathrooms, and a one-car attached garage.

With its gorgeous brick veneer, good sized front porch, newly painted interior and new carpet, you’ll easily fall in love with this home.

If you love nature and enjoy an active lifestyle, you’ll love living in Southampton Commons

On top of the great features and amenities, this home has to offer, Southampton Commons is located in the Ballantyne area, and offers a great community with a pool, nature trail, and parks, so you can enjoy an active life. You can also participate or watch sports events at Elon Park Recreation Center, which is only a three-minute drive away.

It is a friendly and wonderful community located close to many shopping and dining options.

If you have elementary age kids, the Elon Elementary School is so close you can actually walk there. Community House Middle School and Ardrey Kell High School are both under a five-minute drive away.

A warm and inviting entryway home

Step in through the charming front door and you’ll be welcomed by a captivating entryway with polished wood floor.

Neutral tone walls complement the warmth of the wood floor, creating a warm and inviting feel when you come in.

Create a more personal touch on these walls by adding some fun artwork, decor or your favorite painting.

The foyer opens to a short hallway that leads to a bright and airy great room with an open concept floor plan.

To the left is a charming and spacious family room featuring a fireplace with an opening above the mantle, large windows which allow plenty of natural light to stream into the room and new beige floor carpeting.

The spaciousness and monochromatic feel of this family room gives it a modern appeal and allows for easy decoration and personal touch. Furnish it with a large sectional sofa for hanging out when guests come over.

Entertaining and relaxing is easy in this room, and it also provides easy access to the eat-in kitchen located just across this great room.

Dine in this home’s equipped and extra bright kitchen.

This Charlotte home for sale’s kitchen enjoys natural sunlight through the bay windows by the breakfast nook.  

You’ll love cooking in this fabulous kitchen with lots of cabinet space and an oversized breakfast bar. It also comes with a dishwasher, electric range, microwave, range, and refrigerator.

There’s plenty of space to move around in this kitchen, a great excuse to ask your friends to help out when you cook.

Beyond the spacious breakfast bar is a great space for a breakfast nook.

The living spaces on the second floor

Upstairs, you will find a good-spaced landing area, three bedrooms including the master bedroom, and two full bathrooms.

The landing space is bright, airy and beautiful. It can easily be converted into a den, an office space or a game room if you love entertaining.  This space has plenty of potentials, and you can turn it into anything you want.

All bedrooms of this home are beautifully appointed.

The master bedroom is lovely and cozy, a personal sanctuary retreat where you can relax, recharge and reflect.

It features large windows, neutral tone walls, carpet flooring and a walk-in closet. This room is streamlined and reflects simple elegance, perfect to suit any bed size and style.

The walk-in closet allows sufficient storage space for all your personal items. It also keeps things organized, which is great if you love being orderly.

The master bathroom is also bright and good spaced. It has a walk-in shower and a separate garden tub for your enjoyment. When you need some pampering, the tub is always ready for you.

A patio for your backyard retreat

When you long for fresh sunshine, step outside onto this home’s backyard patio. These features along with the oversized one car garage complete this home’s amenities.

An outdoor table stands on the edge of the patio, a perfect breakfast or barbecue table.

This home for sale in Charlotte has all you need for a comfort. It is also well-maintained, perfect for executives and individuals who prefer a carefree lifestyle.

Make it yours for $234,900.

Want to see other available properties here in the Charlotte area? Visit http://ShowcaseRealty.net/ for more information.

Call me, Nancy Braun, (704) 997-3794. As the top real estate agent in  Charlotte,  I can help you find the best home.

Text Holland9036 to 704-870-2369 FOR MORE DETAILS!