Short sale market is growing at a rapid pace and it constitutes a large portion of the real estate industry. If you are an expert in short sale deals then I would advice having a short sale negotiator on your team. A short sale negotiator can help you in numerous ways starting with daily communication with the lender, required paperwork, update you on the status of the deal, and you can invest your time in something more productive. It is important that what type of relationship you have with your short sale negotiator. Trust is the most important aspect of the relationship and both agent as well as negotiator should have trust between them. It’s a two way street and it can go smooth with participation of both the parties.
I have closed lots of short sale deals in Temecula and it is always great to have a reliable short sale negotiator along your side. Negotiator is the only individual who is in touch with every single party involved in the deal including lender, Escrow, Buyer’s Lender & Agent, sellers, HOA Company and anyone left. There are tons of duties that need to be performed in a timely manner, but a good negotiator can handle all of these tasks easily. With my rich experience of working as a Temecula short sale agent, I have learned few important factors that help in building successful relationship with your negotiator and this post will discuss these factors in detail.
•Allow negotiator to have a direct contact with your seller as it will expedite documentation request and you can receive direct status update about the deal.
•Provide negotiator the freedom to work with the buyer’s agent.
•Be punctual towards any document request from the negotiator or lender and it will help in smooth completion of the transaction.
•Give freedom to your negotiator for all HUD-1 related coordination with the Escrow Company.
•In case the agent receives a call directly from the lender then the call should be referred to the negotiator. It will help in avoiding any misleading information to the lender and a smooth transaction.
•Cross check the list of documents and sign them before submitting them to the lender.
•You have to trust your negotiator when it comes to escalating the file. Negotiators are professionals and they understand the lenders timeline and act accordingly.
•Keep one thing in mind that short sales are always frustrating and the negotiator is on your side. Negotiator will take care of the interest of your seller and your company.
•Most important factor is to keep open communication between you and negotiator. Let the negotiator know your frustration so as to avoid a stressful transaction at the beginning only. Moreover it will allow in building better relation with your negotiator.
If you want to be successful in short sale in Temecula then it is important to have proper communication with your negotiator. Keep in mind that positive relationships can help in closing the deals successfully.
Comments(5)