Birmingham Short Sale Realtor Tip #25, "I never worry about ACTION, but only about INACTION", Winston Churchill. Michigan! Mike Sher

Often Realtors, Clients or Friends ask me what is the key to Short Sale success.  As you can guess from the Churchill quote above, "ACTION" is the key to success.  This quote also covers why Short Sales fail "INACTION".   Below I have listed examples of Action and Inaction: so you know the difference.

Action:

1. Faxing 3^rd party authorizations the day you get the listing & ordering pre-title.
2. Getting the hardship package scanned and prep with in the first weeks of the listing.
3.  Lowering the list price every 10-15 days until you get an offer
4.  Calling the back every time you fax them document then two to four times a week once you have an offer in.
5. Taking great notes!
6. Having your HUD done with 48 hours of getting an offer
7. Faxing in your offer with in 72 hours of getting an offer.
8.  Meeting the BPO/Appraiser at the home.
9. When calling the banks, always asking where we are in the process and what can be done to speed things up.
10. Keeping the Seller and Buyer Agent up to speed.
11. Always pressing on after every success and/or failure until you close.

Inaction:

1.  Never getting anything in advance.
2. Faxing in 3^rd party authorizations months after taking on the listing.
3. Not scanning documents at all.
4. Never calling the bank regularly and not taking notes.
5. Not meeting the BPO/Appraiser at the home.
6. Not keeping all parties informed of the progress.
7.  Not lowering the price regularly.
8. Not getting a HUD or Title work timely.
9. Not asking questions when calling the bank.
10. Giving up at the first bump in the road.

Mike Sher, CDPE: http://hosted.cdpe.com/MikeRealtor/

Office: (248) 644-4700x242 Fax :(248) 499-1020 4120 Telegraph Rd, Bloomfield Hills, MI 48302 E-mail: mike@mikerealtor.com

CDPE (Certified Distress Property Expert)

MCAR, Short Sale Trainer Max Brook and Real Estate One Short Sale Specialist.

The Mike Realtor Team Blog - Metro Detroit/Oakland County Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City But, We Can Help!

This is a competitive real estate market. If you have to sell and can not, perhaps it is time to look at a Short Sale. The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.