Dealing with the Dr. Jekyll and Mr. Hyde negotiator

Although banks are approving short sales more now than in previous years, dealing with bank negotiators can still be frustrating for many of us.  Some agents have stated they contact the negotiator once every couple of weeks for their short sale listings.  In my experience, I have had to contact the negotiator more frequently than once every two weeks for most of the short sale transactions I have closed successfully particularly, when I’m dealing with the Jekyll/Hyde negotiator.

The Jekyll and Hyde negotiator will tell me one thing during a phone conversation and something completely different over email.  This becomes problematic when it comes to how much the investor is willing to take.  The negotiator often gives me a lower amount over the phone and when we have a buyer willing to pay that amount, the negotiator then states via email that the file will be denied and closed due to the contract purchase price not being high enough.  I often wonder if I am working with two different people!

Over email, this type of negotiator’s communication is abrupt and at every possible opportunity, states the file will be closed and denied.  They are completely unreasonable and it often appears the bank doesn’t want to approve the short sale when the negotiator plays games throughout the short sale process. 

So how do you handle this type of negotiator? 

I get a lot further talking with the Jekyll and Hyde negotiator directly over the phone.  It seems as though they don’t want to tell me anything over email but when I pick up the phone, it’s a completely different story.  Document phone conversations.  When the negotiator comes back to you with something that was not previously agreed upon, you will need to reference your documentation when speaking to him/her over the phone. 

I know email is a great way to track all discussion between the negotiator and real estate agent but it is not always the best way to get a short sale approved.  Many of my short sale transactions in Colorado Springs would have gone to foreclosure if I kept the majority of communication strictly to email.  If you are not making progress, getting the file re-assigned to another negotiator may be an option.

How do you treat a short sale transaction when working with a negotiator that says one thing but does another? 

If you are facing foreclosure, Contact Patricia Beck, Colorado Springs Real Estate Agent.