12 days ago, I listed a house as a short sale and received a decent purchase offer sent in from another agent in about a week. The problem my collegues and I have always had was how to speed up the process of getting it to the bank's negotiator, rather than having the offer sit for days or weeks on some clerks desk until it works its way up the chain of command. The first thing I had the seller do was to submitt two letters to the bank, one giving me authority to negotiate on her behalf, the other, a hardship letter explaining why she could no longer afford to make payments and that she had to sell the house as a "short sale." The following day I sent in the purchase offer along with a very good comparative market analysis, using the formula that breaks the house down to the square foot and "proves" to the banker that the purchase offer is a good one, my secret formula, as I like to call it. I also included photos of the comparative homes, a net sheet of seller costs and a copy once again of the hardship letter and authority to negotiate. This all went to the loss and mitigation department. I spoke with someone there who told me that "nobody could look at it until it was all scanned in, probably in one or two days. I called back the next morning, got another person on the phone there and told him that I had been promised that today someone would have scanned in all my pages of hard work, I told him all about my market analysis that proved that we got a "darn good offer and I didnt want to lose it."I told him I was concerned that the fax was lost somewhere. I asked for the email of the "head cheese negotiator" he chuckled and said he could not divulge that info. I then asked him to send that person an email explaining the situation for me, and the urgency that she review the offer. Not only did he send her the email as I told him what to say, but he did give me her name and private fax. I then sent it to her about an hour later and got a response that she received and was now in the process of reviewing our request for the short sale-purchase offer. Moral of this story: If they won't give you the negotiator's email or phone number, because it is "against the rules" then have them contact the negotiator for you! Always say thank you.
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