Tips and Tricks in getting more short sales approved.
I'd like to use this blog to exchange information of some (legal) strategies used to increase the chances of a successful short sale.
Here's two that can be very useful:
1. Obtaining multiple contractor estimates
Most BPO agents aren't knowledgable about repair costs. By obtaining multiple contractor estimates you reaffirm your offer price.
2. Escalating the file to upper management
It happens from time to time. Then bank's negotiator counters with a number that wouldn't fly in height of the real estate bubble. If you have a valid offer on the table and enough documentation to support this value, you can escalate the file to upper management. While this isn't full proof, it might do the trick to salvage your deal.
Therer's many other clever tactics in the toolbox ;)
What are some you guys find useful?
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