How to Save Your Client $63k during their Short Sale

Negotiating short sales can be amusing at times.  I've had times where banks have responded asking for a counter offer or cash contribution to such a level that it was actually MORE then the amount owed on the mortgage.   Sometimes I truly believe the negotiator for the bank is just testing you to see if you have even the slightest clue what you … [Read More...]

Top 7 Steps to Increase Your Short Sale Approvals

There are some things you can do on every short sale to increase the chance of it getting approved.  Check out my personal Top-7 steps to increase your short sale approvals. NUMBER 7 - Pricing Set your price at market value, not below.  But quickly adjust pricing as needed every 2 weeks until you get an offer.  You will find market value … [Read More...]

5 Quickest Ways to Kill Your Short Sale

Listen up Realtors and Home Owners alike.  The choice to do a short sale can be varied and often not an easy choice.  Once the decision is made you really need to to be careful not to kill your own short sale. Here are my Top 5 Ways To Kill Your Short Sale #5 - Assuming any offer is a good offer The bank is always looking for market value. … [Read More...]

Always have a Purchase Money Lender on Speed Dial

Even if all you do is list properties for sale and list short sales among those you need to have a strong purchase money lender on your speed dial.  No mortgage broker here I'm talking about a money lender that can work quickly on files and do their underwriting in house.  The reason the is so important was reminded to me just last week. After … [Read More...]

Pre-Negotiate Your Short Sales

Okay listen up Real Estate agents and Short Sale Negotiators out there.  I find it hard to believe that many of you are NOT running a title search at the start of your short sale.  If needed to be paid up front the home owner should provide that as it typically is very affordable.  I don't know how many times a home owner has told me the only … [Read More...]

Disclosure

Disclaimer / Disclosure

I’m a Realtor. Here is what I am NOT – I am not a bomb diffuser, not an attorney, not a rocket scientist (but I dated one once :-), not a lawyer, not your mother, not omniscient and I am not a Realtor licensed in every state. So please for the love of all that is good in this world – DO NOT take my word for anything here. Do your own due diligence, talk to your broker, ask around, check out other blogs if you like. Be cautious about … [Read More...]

Top 7 Steps to Increase Your Short Sale Approvals

There are some things you can do on every short sale to increase the chance of it getting approved.  Check out my personal Top-7 steps to increase your short sale approvals. NUMBER 7 - Pricing Set your price at market value, not below.  But quickly adjust pricing as needed every 2 weeks until you get an offer.  You will find market value quickly and be able to detail to the bank the amount of showing or interest at any price point … [Read More...]

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