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Short Sales in Bulk a Better Deal for Everyone

By
Services for Real Estate Pros with Encore Investment Group, Inc.

It's obvious that investing has changed. It's changed for buyers just as much as it has for anyone else in the industry.  Short sales are one of those dynamics that you either love or hate but you won't be getting away from any time soon.  Let's face it, getting a property to sell when it has an approved price is a lot easier.

Our company outsourced short sales for quite sometime. Our investors wanted packages of 20, 30, 100 at a time.  It's not unusual to see but usually on the REO side where it's common to see entire tapes going for $10,000 a door.  I'll be straight with you here.  I got the short end of the stick.  The negotiators were slow, lost files, didn't communicate with the homeowner, and downright didn't deliver on their promise to get 80% closes. 

It was disaster.

I made phone calls. 

Mediated between realtors and homeowners.

Then I made more phone calls and I wasn't going to pull any punches until I found a loss mitigation company that could deliver what they promised.

In short, I found a company that I think really stands by what they can do.  And it wasn't easy.  I drilled them for references, I gave them scenarios, short of the "rack" I made a definite impression, you might say.

A national company that could handle 20, 30, 100 at a time.  As an investor, I'm pleased as punch.  Volume has always been our strategy but we've never been in a position to create that advantage.

Best part for me is that they don't charge me anything up front and never charge anything if it doesn't close.  Nice to know when the real numbers for shortsale closes are 50% at best.

They have offices in L.A., California and New York.

They deal with the homeowner directly and the homeowner can call them directly for status updates. 

Their fees do come from the listing agent but again, when we're talking volume, I think it's better to hand 100 over to the company & spend the rest of your time on the end buyer.

For more information, email invest@encoreinvestmentgroupinc.com

Dalene