Time is money. We hear that phrase only after we get our first job, prior to that we don't hear that phrase much, because it really doesn't apply unless it is someone else's time and someone else's money.
So, how does this apply to today's market? Does the time on the market in a short sale or foreclosure really mean more money for the bank? Oh, wait, the phrase means the less time you take to do something, the more money you will make.
This does apply to real estate, but apparently the banks haven't heard this phrase yet. Banks, here is a list of ways spending less time with this paperwork on your desk could make you more money.
- You would have more buyers putting offers in on your property, because they know they wouldn't have to wait, just to be told that you aren't going to approve the loss.
- Having more buyers, means having more offers and a higher priced realized at close. (Look at the houses around yours that are selling, they are selling for more, because of less hassle.)
- Less time and money spent on lawyers during the foreclosure process
- Less man hours calling the home owner trying to get a payment that will never arrive
- The property will have less wear and tear on it, meaning less repairs for you to do for the buyer in order for it to sell
All these things mean more money in your and your investors' pockets. All you have to do is realize that "Time is money!" The less time you take, the more money you will make!
Comments(11)