OK, I have taken 2 SFR cetification classes already, but trying to get listed in this big website requires me to get another certification. I thought I already know a lot about short sale negotiations...yeah! Especially since I have succesfully negotiated some very difficult deals. For example: Bank of America 1st and second mortgage, high BPO with Difficiency judgment full waived. The purchase offer was for $158K, lender countered $195K due to high BPO result. After the back and forth negotiations, I succeeded in getting the lender to accept $158K, pay for all the cost and get the difficiency judgment waive on both the 1st and the 2nd mortgage and the only thing that they ask is that the seller pays for the HOA, sewer, garbage and utilities. It is such a great deal that he jumped at the opportunity to get those things taken cared of and get the short sale of his property out of the way.
However, now that I am taking a CSSA certification, I am learning so much more about negotiations that I have not used in the past to make the short sale negotiations easier for me. My last two short sale deals that have been approved were so easy...it took only three weeks, which is not typical, but learning what I know now could position my clients for a better bargaining position. It does pay for an agent to get educated in the field that we practice to make things easier for both the agent and the client, so for those who are struggling in their short sale negotiations with the lender, it is best to stop and get trained or refer your deals to those who knows. Afterall, we all must represent our clients with their best interest in mind, right? If we have very limited knowledge in doing short sales and we are not comfortable in dealing with the lenders, we are not fully-representing our clients because we still lack the skills necessary to fully-represent them. So, get trained, ask a lot of questions and read a lot! Work with someone who has the experience and who can walk you through your first few deals.