We have been advocating that Buyer's and Buyer's Realtors should have some input on the short sale negotiator selection and wanted to take just a minute to say a little more about this topic.
When you and your Buyer and sitting down to write your offer, have you even considered that you can suggest a short sale negotiator to them? You can negotiate sales price, closing date, closing costs, repairs, who handles the closing etc etc etc, so why not the negotiator?
Considering that the short sale negotiator can make or break the deal why wouldn't you? If you as the Realtor, or the Buyer, know of an experienced, efficient, and highly productive negotiator don't you want them working on your short sale deal?
I am in no way discounting the Seller and Listing Realtor's opinions here, so please don't think that.
I find that Buyer's who have input on who is handling the negotiations feel that they have some measure of control of a potentially mind-numbing process, they stay more involved, and have a higher rate of staying with the transaction should it extend past their initial approval deadline.
I have found that there are Short Sale Negotiation Firms that have "BRAND NEW EMPLOYEES" with less than 6 weeks of short sale negotiations experience and they are left on their own to handle critical files. These less than experienced "negotiators" do not have the skill, knowledge, or "seasoning" for handling some of these short sale deals. I've even seen one negotiator who got short sale approval from the 1st lender, turned the file over to the closing office so that they can start on the closing only to figure out that whoops, there's a 2nd mortgage on the property!!!!
It is imperative that the negotiator you select be experienced, ethical, efficient and skilled at their job, otherwise you have the potential to be wasting everyone's time, and yes even their money!
Something for you to think about the next time you write an offer on a short sale listing!
Patricia D. Murphy, Short Sale Negotiator ~ Lien Search Pro, (a division of PCS, Inc.)
P O Box 21644 ~ Sarasota, FL 34276 ~ 941.822.6111 Phone ~ 888.331.2617 Fax
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