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Each month AR runs numerous contests as a way for our members to engage in activities
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These state pages or hyper-local pages provide content directly related to a specific geographical location.
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Like any industry, and any profession, lack of change or adapting can make a slight to significant impact on one's business. There are a few things in our current market / economy that make me cringe, yet I hear/see them EVERY DAY and they are becoming more and more common ... "lease with option," "Buyer with credit issues...," and "short sale," just to name a few.
Whether representing a Buyer or Seller, short sales are time-consuming and can be frustrating. IF the listing Agent is on-top of things, representing the Buyer can actually be a decent experience. That seems to be the minority of the time (in my experience, anyway), but I digress ... this post is about representing the Seller.
Because these are SO time consuming and labor-intensive, and MAY or MAY NOT result in closed business, I have a new personal policy, and am STRONGLY encouraging my Team to implement the same so as to not waste their valuable time:
Prior to taking a Short Sale listing, I am now going to do ALL of the following:
1.Be sure the Seller has secured, completed, and returned a hardship package, and/or whatever paperwork that particular lender or lenders are requiring.
2.Find out EXACTLY how far behind the Seller is on their payments. NEWSFLASH - if they are current or only a month or so behind, get ready for a L O N G R I D E !!!!!!
3. Have a Letter of Authorization signed by the Seller giving me permission to speak with the bank in their stead.
4.Collect a non-refundable, upfront fee of $500 to $1,000 depending on the situation and how many financial liens are on the property.
CURIOUS WHAT YOU THINK! Am I missing something? What do you do?How do you handle Short Sale listings .......... or do you?
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.