Short Sale listings.... who me?? I don't think so.... well maybe.

By
Real Estate Agent with Sunset Properties

For me, real estate success has been all about getting listings, the good, the bad, and the short sales??? who me short sales???....  Being primarily a listing agent I have some good standard sale listings and have continued to build banking and other REO contacts (but that vat has not been producing much). I have not been pursuing short sales though.  Why not???? Well, one reason is that I am working a few deals as selling agent that have been 6 month marathons, but I recently put together a short sale package for a listing of my own and sent in an offer about a week and a half ago. Earlier today, I heard from assigned negotiator. He said my information looked good! and wants me to make an offer to 2nd TD holder!!.... Whoa, not so fast..... I thought it would be about a month before I received return call from negotiator. ...... It seems as if some of the banks have now sufficient staff dedicated to working short sales. Somehow I am starting to feel a little better these short sales.


Comments (3)

Satar Naghshineh
Satar - Amiri Property and Financial Services Corp. - Irvine, CA

Well if you need help, feel free to ask questions. I'm in your neck of the woods and can help. The next step is to tell the 2nd that the first is giving them 3k and have the second tell you they want more. The first won't give, so i hope you got the offer at a low price and asked for 3% closing cost to use the money to pay the second off.

Good Luck

 

Sep 22, 2009 07:14 PM
Rob E. Kirchner
Ferrari-Lund Real Estate - Reno, NV
Reno Real Estate Expert

Sometimes the Negotiator of the First will give you a range to offer the 2nd, such as, 1 to 3K.  If they don't give you that, ask for it.  When the range is pass along to the 2nd it may be accepted (here is a shocker!, the 2nd will accept the top of the range).  I have had a couple deals where this happened and it worked well for me.

Sep 28, 2009 06:04 AM
Tom Sicard
Sunset Properties - Temecula, CA

Thanks Rob and Amiri I appreciate your comments.  The 1st TD holder has given me an offer for the 2nd, I contacted the 2nd and they had just completed an IBPO and they had not, as of last week, assigned file to negotiator, thus not ready to discuss a settlement. So far so good!

Sep 28, 2009 08:06 AM