I think it was Louis Brandeis who said, “Sunlight is the best disinfectant”—a statement that refers to the benefits of openness, transparency, and the quest for knowledge. Clearly, there is no place where this saying is more important than in the field of real estate in 2011.
In the crazy distressed property market, rules, policies, and systems are constantly in a state of flux. There is a vast amount of information that is required in order to effectively represent a client in a short sale transaction. Openness, transparency and the quest for knowledge are all important components of a transaction. People often contact me in order to consult on a specific situation, and often the solution or course of action is very complicated.
Sometimes, since short sales can be very tricky, it’s nice to touch base with another experienced agent about the appropriate course of action. Should the client apply for HAFA or HAMP? Will the client be eligible for the Bank of America Cooperative Short Sale Program? Will Wills Fargo agree to waive the deficiency balance?
The good news is that we have provided you with lots of sunlight. We’ve brought you this sunlight in the form of downloadable documentation that you can take with you on short sale listing appointments or show to clients if they have questions or concerns.
Here are a few items that may help you:
Comparison of Short Sale and Foreclosure
Overview of Bank of America Cooperative Short Sale
HAFA Eligibility Questionnaire for Listing Appointments
Download ‘em, check ‘em out, and hopefully they will help you as you move forward with your next short sale transaction. And, if you like sunlight, you can always come visit us at our office in San Diego County.
Photo: flickr creative commons by majsicmtc
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