Special offer

SHORT SALE EXPERT ADVICE

By
Real Estate Agent with KELLER WILLIAMS REALTY - DPR TREC# 0558222

I am more than happy to share the benefit of my experience with anyone out there who needs it whether they be potential sellers or real estate agents.  It is my mission to educate the profession and the public about the option of short sales and to eliminate any fears or objections surrounding it.  Realtors seem to find them distasteful as a rule because of the longer amount of time it takes to get to closing.  On the other hand, for buyers, they can be a fantastic opportunity to buy a home at a discounted price because of the as-is nature of the sale.  At a time when so many of these homes are fairly new, many less than 2 years old, they are not distressed in any way other than needing a good cleaning!  Oftentimes, they don't even need that due to the fact that the sellers are good people and are just trying to do the right thing and have every intention of delivering their property in good shape to the buyers to whom they are eternally grateful for buying their home.

I am looking for questions, comments, suggestions, input, education. 

Thanks!

Comments (5)

Greg Steffens
Mountain Country Realty - Lake Arrowhead, CA

Hi Brenda - Welcome to Active Rain and congrats on your first post.  Be sure to spend some time looking around at how and what others are blogging here - it is a great education and lots of fun.  Looks like you're off to a great start...keep it up!

Sep 27, 2008 05:41 AM
Kevin Wood,
Keller Williams Southern Arizona - Tucson, AZ
Tucson, AZ Realtor

Brenda,

Welcome! Sharing your perspective makes Active Rain what it is, an unlimited educational resource. The more you express who you are and what makes you tick the more people will know, like, and trust you. And will probably refer you. Just like anything else in life the "Giver's will Gain".

 

 

 

Sep 27, 2008 10:07 AM
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Brenda,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to you!

-Keith

Sep 27, 2008 01:40 PM
The Trumm Team Omaha Homes for Sale, Real Estate
Keller Williams Greater Omaha - Omaha, NE

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain.  It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm

Sep 27, 2008 03:12 PM
BRENDA ROGERS
KELLER WILLIAMS REALTY - DPR - Plano, TX
Experience You Can Trust

GREAT QUESTION!  "HOW LONG DOES IT TAKE TO GET THE APPROVAL FROM THE LENDER?"

The short answer is that there are no guarantees.  It all depends on who the lender is.  Some take as little as 30 days, some take up to 90 days.  Certainly, it can take more than the usual 30 days since the seller's lender must approve the discounted payoff before a closing can occur.  The best we can do is give you an educated guess based on the circumstances of that particular offer.  The lender can be the reason for delays up to 90 days.  The LARGEST SERVICERS whose initials are CW and WG, will probably take the longest.  Their process is extremely inefficient so patience will definitely need to be a virtue the buyers possess.   

Another mitigating factor which may delay the process is the amount of the offer.  If it is too low, the lender may not even consider the short sale offer at all since many of them now have "in house" appraisals.  That concept is interesting to me since all markets are subjective based on location and the people who are doing these "in house" appraisals are not appraisers or realtors.  I believe it is a concept they will abandon in short order once they see how much time they end up spending fighting with REAL appraisers and realtors over differing opinions as to value.

Most importantly, just remember, as a buyer, seller or agent, everyone has to be IN IT TO WIN IT in order to get the GREAT DEAL!!

 

Oct 21, 2008 05:23 AM