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listing short sales: Don't Let Your Short Sale Sellers "Fudge" Their Financials - 08/15/09 12:09 PM



Are you helping sellers with short sales?  Part of the lender’s process will be to verify if your seller has a true financial hardship. Short sale lenders analyze the information you provide, including paystubs, bank statements, tax returns and the financial worksheet.  They will run a credit report, they will review bank statements line by line, and they won't just gloss over the financial worksheet. 
 
If something does not "add up", be prepared for the following questions and requests:1.   Why do you list a car payment expense, when your credit report shows it’s paid off?2.   Why do you … (15 comments)

listing short sales: Are you a Short Sale Super Star? Want to be? - 07/30/09 05:58 PM
Bryant and I are excited to present Session 5 of our Short Sale Basics training webinar on Saturday, and..... introduce you to our new specialized Short Sale Superstars site.  Join us!
Via Bryant Tutas-Tutas Towne Realty, Inc:
Hi folks. In case you have been keeping track, Saturday at 11:00 Eastern Time is the last “live” Session for Short Sale Basics Webinar. During this Session Wendy Rulnick and I will be discussing:August 1st Session 5: Presenting the Short Sale to the Lender
 Making your case  Follow up  Negotiating the payoff Over the last 5 weeks Wendy and I have been walking our students through … (6 comments)

listing short sales: When is a Contract NOT a Contract? - 12/13/08 10:55 AM
Is a contract NOT a contract when it is signed by both buyer and seller?  Again and again, buyers are walking from short sale offers with no penalty, sometimes encouraged by their selling agents.  Here are two emails below from agents in the Destin- Navarre Florida area whose buyers simply backed out of short sale offers after three months of negotiations:
   "Yes it is a long time and they do understand the contract but they are not obligated to the contract until the bank responds."
  "It was contingent upon the banks acceptance of the offer and the bank did not accept … (47 comments)

listing short sales: Why You MUST Call The Short Sale Lender Every 3 Days - 12/03/08 09:06 AM

If you don't call the Short Sale lender EVERY 3 days...
1. It might be a month before the short sale lender lets you know you are missing paperwork (they "lost" it)
2. You won't know you're not "authorized" (they misplaced your letter)
3. You won't know they NEVER got your short sale package, (although you have the fax receipt)
4. They might never "refer" the file as a short sale (Countrywide cases) because it's still in loan modification process
5. They won't call YOU with a counter offer until they "get" to it next week
6. You might not get … (17 comments)

listing short sales: "Sly" Short Sale Buyer - A Cautionary Tale - 11/23/08 11:49 AM
My story takes place in Destin, Florida.  I have modified parts ever so slightly to protect identities, but I write this as a cautionary tale for short sale listing agents and short sale sellers.
I received an offer on one of my Destin FL short sale listings.  It was a well-done contract with a fair price- $270,000- just slightly low, but in the realm of "workable" for acceptance by the short sale lender, Chase.  The selling agent said the buyer was a single school teacher, and he provided a pre-approval letter with the offer.  My seller was excited and signed the … (13 comments)

 
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Wendy Rulnick "Its Wendy!" Destin FL Short Sales

Destin, FL

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Rulnick Realty, Inc.

Address: 12889 Emerald Coast Pkwy West, Ste. 107-A, Destin, FL, 32550

Office Phone: (877) 487-9639 x 204

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The market. Smart sellers. The Emerald Coast of Florida.


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