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Each month AR runs numerous contests as a way for our members to engage in activities
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Ask a Real Estate Question
Here's another avenue for you to build relationships with others. Share your expertise with someone searching for answers.
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Your Homepage will alert you of new questions in your state
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These state pages or hyper-local pages provide content directly related to a specific geographical location.
State, County, City and Neighborhood pages make it easy for consumers to find what they're looking for.
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Consumers peruse these pages for information
Farm your niche market and cover all the happenings in your neighborhood
This week a facebook friend, another local realtor® in town and someone who specializes in short sales, posted on facebook:
Kelly Horton Been a long day. I have now faxed the SAME authorization to the SAME bank FOUR TIMES! Each time to a DIFFERENT FAX! Do they just make the numbers up? I really think they do. Just sayin'.
Kristen Burnett Ueckert Silly girl. That's because banks are about as predictable as 555 numbers in Hollywood. Break a leg.
So, to my consumer friends who are selling or buying a short sale and to my realtor® friends who don't already know the drill, here is the drill:
#1 The bank reviewing the short sale will likely want a "short sale packet" typically beginning with an authorization to speak to the agent or any other 3rd party to the transaction.
#2 The pro will fax that in, multiple times, at the bank's request, and after it actually reaches the right number, because everytime we call we will be told to fax it to a different number, then it will take 48 hours to "show up in the system."
#3 The rest of the packet will need to be faxed usually to another number. The rest of the packet usually includes a contract, listing agreement, CMA, owner bank statements, income docs, IRS docs, letter of hardship -- the list is long and the deal will usually go no where if ONE thing is missing.
#4 Even if the bank doesn't request it (items pros know to include in the list), get it together. If the bank fails to ask the first 10 times, they will the 11th and it's good to have it ready to roll when they do.
#5 The bank will take forever. And a day.
That's just the way it's working right now. To be merry this season, you sort of just have to understand the system and embrace it or you'll go nuts right along with the market!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.