Southwest Florida, Cape Coral, Fort Myers  Bank Pre-forclosure /Short Sale Suggestions.

 Key points in getting a short sale done? Hardship letter from the Seller and Negotiate with Leverage! 

 The Hardship. I have received a lot of phone calls lately people asking about doing a short sale of their home. I always reply to the caller have you talked to the bank? Have you written then a Hardship Letter? Explaining why you are behind in the mortgage payments, what life events have lead you up to this point? I know it's not easy to write about the hardships you maybe having yet, If you want a bank to forgive your debt ? You better have a good reason besides I just don,t want the house anymore! When you provide this letter, along with your documents for supporting your claim for a short sale. Most banks will suggest a loan adjustment to help you with a lower monthly payment option first and offer suggestions before agreeing to the  short sale.

The Key to  Negotiations. When you get a agreement from your bank on working with you on a short sale they will tell you to get your home listed with a Realtor for sale. Selling a home under the terms bank foreclosure short sale takes a very different approach then just selling a home to the public. I can tell you, I spend every other business day on the phone with a bank or faxing the bank more documents pertaining to the current real estate market in Southwest Florida. You have to understand you must convince the assigned negotiator for the bank, You have to teach this person all you can about the current real estate market (most of the time they are located outside the state of Florida and have no idea of our current market) while I am sending them a sales contract. I send in copy of news articles from the local news paper written about the current real estate conditions. I send in current prices of brand  new construction homes, anything that effects the current real estate market must go in with the sales and purchase contract. When I am done delivering information with a contract, it can be as many as 25-30 documents presented to the bank on why they should take the current offer! When you are dealing with a bank they are a cooperation. they have board of directors and stock holders they have to please! any of the times it is presented to a board of directors?or a higher supervisor to make the call on accepting your short sale.

Please call or email with any questions regarding buying or selling  thru the short sale process! Call me anytime, Joe Kendall Realtor with Sandals Realty www.viewswflorida.com  or phone 239-560-0726 email http://mailto:joek4realestate@aol.com