Conversations In Short Sales in Atlanta, GA

Short Sales seem to be the buzz word right now.  Everyone and their brother has some experience with a short sale or do they?

I thought I'd do some fact finding and see what's going on.  To be sure, I am in the Short Sale business now with Atlanta Short Sale Listings you can find all the homes in Atlanta Metro area.

• You can read my conversation with another agent about prospecting (calling) for sale by owners that led to short sale revelations.
  
• I also spoke with Ann Urias and she said the key was getting the price right in the beginning.  Not too low to kill the deal, but low enough to actually attract buyers.  She also poo-pooed on the investor buying the homes to flip them at the closing table.  I didn't have enough time to figure out if that was market specific or actual.  Since I've had a lot of great transactions with Short Sale Buyers. 
• I also wanted to share with you that not everything is as it seems.  There are agents in our area touting the Short Sale Expert tag, but they don't have answers to these questions (we do).
  
  • If the investor buys the home to flip, how do you finance the other transaction, since there will be a title seasoning issue?
  • How many short sales have you CLOSED? (not worked on)
  • What do you do with PMI companies?
  • What do you do if the home owner has a small business loan?
  • What do you do if the home is a few days from foreclosure?
  • Does your team include an attorney?
  • Are you using standard Realtor Association contracts or are you using internet found forms, or something custom?

It's pretty easy to see that once you start doing short sales there are a world of questions that separate the experts from the people that can close one deal.

OH and That short sale expert in our area has closed .... 0 homes.

(As a note, it's highly unlikely that I am speaking about anyone that would read this article.)