SHORT SALE NEGOTIATION TIPS (ORANGE COUNTY SHORT SALE REALTOR)
Here Are Ideas on Successfully Negotiating a Short Sale
What are some ways to successfully negotiate a short sale? One positive impact approach is to be organized during the negotiating process. Loss mitigation departments appreciate it when the agent has a high level of knowledge and is organized. The following is a 10 point process that gives a high level overview of how everything works and when it should occur during the process. Remember, the specific lender always dictates the process.
1. Gather all paperwork from homeowner to show the bank that there is a hardship (this is the paperwork discussed in the presentation).
2. Fax "Third Party Authorization" Make sure all acct#'s are listed as well as property address, name of seller, and social security # is listed and all your contact info.
3. Call the next day to verify the authorization is in their system.
4.Once authorization is in system, call loss mitigation to request any additional hardship packages that may need to be sent along with homeowner's paperwork.
5.Once everything is filled out (lender and homeowner's paperwork), fax or overnight it to loss mitigation department.
6. Wait 3 days call loss mitigation to make sure they got the paperwork.
7.Lender will hire a real estate agent as a BPO to give the bank an appropriate market price.
8.Meet BPO appraiser at the property to get the price that you need to sell the house.
9. Once assigned to negotiator in the loss mitigation department, then work with them to get the price you need to sell the property and get the time you need to sell it.
10. If the bank accepts your offer, move forward with selling the house (usually within 30 days). If the bank rejects the offer, go back and renegotiate with the bank.
Orange County SHORT SALE REALTOR
SERVICING SAN BERNARDINO COUNTY, RIVERSIDE COUNTY, LOS ANGELES COUNTY AND ORANGE COUNTY
" I have successfully negotiated 13 short sales in the month of April"
List with an Expert!!!!!!!
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