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selling short sales: How Often Should You Call the Short Sale Listing Agent? - 09/28/10 04:08 PM
If you are a short sale buyer’s agent, it can often be frustrating waiting for any scrap of information for your buyer. After all, it might be three to five months before you get short sale approval. You don’t want to lose your buyer. It’s best to give them as much information as possible so they feel part of the process.
But just how often should you call the listing broker to check for status? I get a wide variety of buyer’s agents selling my Destin Florida short sales.
Agent Mellow: He might contact me once a month to find … (51 comments)
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selling 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)
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selling 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)
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selling short sales: "Others Can Learn From You" - 07/29/09 11:18 AM
I recently had a short sale approval for a home in Niceville, Florida. The long and torturous process was with Bank of America. This one took four months, although it was approved just prior to that for another buyer who did not close. All the while, the buyer’s agent, Jimmy, was a consummate professional. Prior to writing the offer he requested the exact terms the seller was looking for. His buyer obliged by submitting a contract with the right title agent, earnest money deposit and timeline. The buyer loved the house and was willing to wait. Each Friday throughout the process, Jimmy would … (14 comments)
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selling 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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selling short sales: Short Sale Listings: Tips & Tricks - 10/25/08 10:13 AM
Preparation and organization are some of the keys to a successful Short Sale. This starts with the listing process.
1. Determine if your seller has a legitimate hardship. Some of those are: loss of income, divorce, medical, transfer, job loss, death of breadwinner, etc. Not "I want to move", "I am tired of paying the mortgage" or " The value of my house went down".
2. Very important -ask your seller to contact his lender before you list the property. Why? The lender may have a loan modification or forbearance plan that may help your seller solve his problem. Additionally, the lender … (21 comments)
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selling short sales: Short Sales: For Buyer's Agents - 03/12/08 05:18 PM
Are you the selling agent in a Short Sale market? Arm yourself with information for a successful transaction:
1. Prepare your buyer by going over steps in Buying Short Sales.
2. Ask the listing agent if he has gathered the information necessary to submit the Short Sale package, including: letter of authorization, financial statement, recent pay stub or last quarter profit and loss, recent bank statement, last year's tax returns, hardship letter, and payoff if more than one lender. If the listing agent has not already done so, prepare the buyer for a longer wait. I would also ask what the hardship is. If … (14 comments)
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Wendy Rulnick "Its Wendy!" Destin FL Short Sales
Destin,
FL
More about me…
Rulnick Realty, Inc.
Address: 12889 Emerald Coast Pkwy West, Ste. 107-A, Destin, FL, 32550
Office Phone: (877) 487-9639 x 204
Email Me
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