How Can a Buyer Speed up a Sherman Oaks Short Sale?

Sherman Oaks, CA
Somewhere near Mulholland Drive.
Afternoon
Yep, a lazy one on a Sunday


My last short sale buyer was the epitome of patience. From original offer to close took more than six months.

Sometimes the deal does what it does and especially representing the buyer, the best a skilled agent can do is listen and coach them to make the best decision for themselves.

In this case it ended well.  Not one home came on the market in the five months it took to get through to the bank and move things forward with an acceptance... Not for lack of looking.  My clients wanted something very specific.  We found it, and got it.

And the question kept being asked, "What can we do to help things go faster?".  My clients got to the edge a couple of times, feeling that ten broken promises on time frames from the selling agent were enough... and still there was only the message being delivered in hopes that the negotiator from the lender was telling the listing agent the straight dope.   Not so much... many times over.

God Bless Patience.

Ah, the sad truth is that other than presenting a clean, good, market value offer with no hidden agendas, there is little that the buyer can do to speed up a Sherman Oaks Short Sale.  The burden lies with the seller and their agent to get to the decision maker, the negotiator or lien holder, i.e. the investor whose loan it is, and get them to see that the offer as presented is an excellent deal that will save them lots of time, pain and lost money.

The saying that the squeaky wheel gets the grease is true up to a point for the listing agent in dealing with the negotiator.  Tact and negotiating skill is essential, as most of these persons are overworked and underpaid, dealing with an avalanche of paper work and frustrated agents and sellers across the city.

Looking for Mortgage Relief?  See the Nine Alternatives to Foreclosure in Sherman Oaks.
Certainly there are best practices though....

For the buyer, hang in there... let the selling agent know you are in for the haul, that you really want the home and are committed to the offer.  Have your agent write as "clean" an offer as possible.  I always call the selling agent to ask if there is anything specific that they know will or will not fly if they have spoken with the bank.

 A few great questions that a listing agent or negotiator can ask the bank:

What exactly is causing the delay?
Who else needs to see the file and approve it?
Who is losing money because of the delay, and who owns the loan?

Calling once at a minimum and perhaps twice a week will put some pressure on. 

Knowing when to step on the gas and when to apply the brake will ensure things keep moving forward.

Peace to you and yours.

V