Hey folks! I haven't posted in a while for a slew of reasons but I wanted to get on up this evening. I negotiate short sales for other agents because of my experience with the banks and their lack of experience. However, the agents I assist are the ones that have the relationship with the client which can sometimes cause a bit of inefficiency. For instance, I am doing a short sale now and have gotten the file to one the last stages. Now, the bank needs updated financials. I have requested these updated financials for 3 weeks from the listing agent! The listing agent has stated that the seller is not delivering the items. So, it is important when you are doing short sales to let you sellers know that is important to deliver requested items immediately. What did we learn in Real Estate class that is even more important in short sales?...TIME IS OF THE ESSENCE!!! When you deliver requested items from your seller to the bank quickly, your rep is gonna know that you are about your business! Your file will take precedence over other files because the bank rep knows that yours is gonna get to the finish line first, close, and be off their desk!! To sum it up, tell your sellers who you are doing short sales for to save all of their paystubs each time they are paid and save all pages of each month's bank statement in a folder. It would be beneficial if they faxed or emailed that as soon as they are received so that you, as the agent, already have what the bank is inevitably going to request when the time comes. Early preparation leads to less future frustration! OMG - that rhymes
Have a great evening!