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Is Your Short Sale Negotiator Really A Negotiator?

By Bryant Tutas

Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

November 14, 2011 07:15 AM

Title Companies handling Short Sale "negotiations" is the new trend in my area. I quote "negotiations" because they don't really handle negotiations at all. Instead they do what Title Companies do....shuffle paperwork. Here's an excerpt from one National company's solicitation to agents.

Short Sale negotiator

Now folks there may be Title Companies that are doing a good job with Short Sales but I have yet to experience one. I guess the issue is that handing your Short Sale over to a Title Company is handing it off to a 9-5 Monday through Friday hourly employee. They are NOT going to spend the time required to push your particular Short Sale through to closing. They are NOT negotiators. They are office workers. And there's nothing wrong with this unless.......you are counting on them to help you avoid foreclosure and salvage your credit.

Just yesterday I had a Title Company contact me on one of my Buyer side transactions. They were asking me for the Buyer's personal information including his first 5 digits of his social security number. Agents that handle Short sales everyday know this information is being requested because it is a Bank of America Short Sale and the Title Company is getting ready to initiate the Short Sale through the Equator system. Entering the Buyer's details is one of the very first tasks. Nothing wrong with this either except for with this particular transaction we have had the property under contract for 2 months!!!

This means that for 2 months this file has just been sitting. Two months of wasted time. Two months closer to foreclosure for these unsuspecting Sellers. Heck....my experience with Equator tells me that this file could have already been approved in this amount of time.

Agents that handle their own Short Sales from beginning to end do NOT sit on a file for 2 months. We are proactive. We follow up on our Short Sales at least twice a week if not more. We push the transaction along we don't just wait for things to happen. And most importantly we DO negotiate "the terms of approval and acceptance on the Seller's behalf." That's our job. That why we get paid.

So folks, if you are facing foreclosure, PLEASE hire a negotiator NOT a paperwork shuffler. You'll be glad you did.

Are you facing foreclosure in Florida?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

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Chris Ann Cleland

Long and Foster Real Estate - Gainesville, VA

Associate Broker, Bristow, VA

After reading this I stood up from my desk and gave you a standing ovation. Couldn't have said it better myself.

Nov 14, 2011 07:38 AM

Jo Olson

HOMEFRONT Realty - Kettle Falls, WA

Retired - HOMEFRONT Realty @ LAKE Roosevelt

I spent 3 years working for a major title company - there is no way in hell I would choose this route! I know what goes on in those offices!

Nov 14, 2011 08:03 AM

Brenda Mullen

RE/MAX Associates - San Antonio, TX

Your San Antonio TX Real Estate Agent!!

Wow, I had no idea that Title Companies could get involved in a contract this deeply. Why would anyone hire a Title Company to do that? Weird.

Nov 14, 2011 10:53 AM

Cathy McAlister

Cathy Ashley McAlister, GRI CDPE - Broker / Sacramento - Sacramento, CA

Sacramento DRE#00648507

Bryant, Having spent 27 years on that side of the fence I know there a lot of good things those escrow/title people accomplish, but this is one area that does not serve them well. I think they appeal to agents who really do not wish to touch the paperwork and want someone else to process it on the cheap. IMHO, those folks are most likely not the best producing short sale agents, and certainly agents that do not have or understand their clients best interest. Not trying to be harsh, I have many friends on that side of the business, from the inside, they know it's just a by-product of the times. I will be glad when it goes away like an old B movie.

Nov 14, 2011 05:52 PM

Tony Morganti

RE/MAX Crossroads in Cuyahoga Falls and Stow, Ohio - Cuyahoga Falls, OH

CRS, ABR, SRES - Cuyahoga Falls, Stow

Bryant - you are so right on this! I recently had a buyers agent on one of my listings direct their short sale offer to a title company that 'specialized' in short sales. While at first it seemed they were doing a good job in submitting paperwork etc, it soon became clear that the only time I got updates from them was after I requested one and they had adequate time to get an update and report back to me. Towards the end I had to step in and get it done as we were in danger of losing our third buyer. It just should not have taken that long. As tedious as it is, I believe the agent can and will do a better job.

Nov 14, 2011 11:22 PM

Gary L. Waters Broker Associate, Bucci Realty

Bucci Realty, Inc. - Melbourne, FL

Eighteen Years Experience in Brevard County

Ther eis one title company here in Melbourne that has, in my opinion, gotten pretty good with short sales. But, the others, well they are right there with your post!

Nov 16, 2011 01:24 AM

Mark Horan

Resident Team Realty, LLC & Toni's Property Management LLC - Saint Cloud, FL

"The Resident Chef" - Resident Team Realty LLC &

Bryant, The timing of reading this post is remarkable. I just called a bank and had them suspend communication with the title company I trusted with a negotiation. Lack of communication and no sense of urgency has led me to the edge. They don't understand they are working for me. It's my client, my license, and my E&O insurance. I could not in good conscience let it go on any further. Thank you for your sediments.

Nov 25, 2011 06:54 AM

Is Your Short Sale Negotiator Really A Negotiator?

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