Agents, if you are in denial, yes I said you, not the home sellers, but you, are in denial of working on short sales, you better jump on board now! Nearly a year has passed since I decided to share my success with real estate agents and open Short Sale Resolution Network. Many agents in areas where homes were very expensive in the OC stated that would never happen! Today, December 12th, 2009, most of the agents having me process their SHORT SALES are from the OC! Newport Coast, Laguna Beach, Corona Del Mar are some of the cities being hit hard. The lenders on the short sales for these expensive homes do not want to hold on to your short sale package for long lengths of time. You as an agent do not have the time to sit on hold for hours when you should be getting more lisitng! In some cases, I not only will give you the lead, but I will market with you and share my successful "Short Sale Marketing" idea that....WORK! All I ask in return is the Short Sale Processing! Let's make help home owners in 2010!
Sharon, how long does it take you to process a short sale? I have been handling my own but this week was the top on the cake! Expand if you would how you get paid, etc.
It depends on the lender. ASC which is the servicing arm in many cases for Wells Fargo is fast, 15 to 20 days! Bank of America is usually about 45 to 60 days on their First TD's. Wachovia a few days...I have a great negotiator there! One great tip I can give you is I also get the loan for the buyer approved and ready to order documents prior to getting the approval letter from the Bank! I can process the short sale anywhere in the US. Short Sale Resolution Network charges 25% and will go up to 3 liens on the property. We are doing one now with 9! This gives you the ability to go and market more lisings instead of being on the phone with the banks...more listings, more closing, more commission!
Sharon
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