I have successfully listed and closed many homes that are subject to bank approval for a short sale! To date I have 9 pending short sales waiting for bank approval.
Why is my success so great? There are many factors! I will give just a few!
1. An Realtor must know how to properly price your home with a number that the bank is willing to accept. There are a few formulas here! Pricing too high will keep your home on the market too long, in essence, keeping the seller's heartship in a bad situation. Pricing too low may cause the bank to reject an offer after a 90 day period of being in contract only to get a rejection from the bank and a buyer to walk. At that point the Realtor may have to increase the Listing Price! Not a good thing!
2. Negotiating with other agents! I will not give my secrets here, but I will say, there is not always a need for a counter on a short sale! Most banks do not even begin the short sale process until a contract for sale and other documents are submitted!
3. Use a reputable attorney that handles only "Short Sales". Before you hire that attorney, ask the agents for a recommendation. Make a few calls to the attorney and see if they return your calls, answer your questions and make you feel comfortable. Why should you turn down an Attorney that will represent you and your best interests, especially when, usually, the bank is paying that attorney fee out of the short sale.
4. As an experienced Realtor selling Real Estate Full Time for 12 years, I feel a Realtor should not be negotiating the legal aspect of a short sale! Training or no Training!!! Certified Short Sale Agent or Not!!!! There are deficiency judgements, legalities here in mortgage docs that need an attorney to handle!!!
5. Buyers inspections up front? After bank approves it? I have a lot to say here!
Well if you have questions about selling or buying a short sale, I will be happy to meet with you confidentially and provide a free market analysis of your home so you can get on the right track and move on to a positive future!
I can be reached via email at email@example.com or via office: 856-228-7990, ext 321.
I specialize in Burlington, Camden, Gloucester, Cumberland, Salem and Atlantie Counties!!!!