I've been working the foreclosure / short sale market for some time now. It just worked out that the clients I gravitated towards were buying up these "deals". So I kept with it, and started to learn the in's and out's. I ran with it and started listing short sales (still haven't broke into the foreclosure listing, open to help!).
I can't tell you how many times I've had a seller contact me about a short sale and tell me that their lender won't help them because they are current on their payments. Basically, unless you are a problem now, we don't care. So, is there no help for these people?
I decided to take a different approach. At listing time, I gather ALL the paperwork that the lender will typically ask for. Then price the house to move! I can't stress this enough. Pricing has never been more of a factor then with the short sale process.
Once you get that offer, send your short sale package into the lender as quick as possible. The lender will be more likely to react if they have an interested party. I consider myself to be very knowledgeable on the short sales now, and have been getting them approved much easier. You have to know what to look for when you take the listing, but getting your ducks in a row is worth it!
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