Unless you have been in the business over 10+ years, then you can call yourself a "rookie" at selling a short-sale property.
Basic 101:
(1) Be nice to the lender. Be friendly and professional. They are the one you are asking for approval.
(2) Ask questions! Don't be afraid to let them know that you are a "rookie" - they love it when they feel that they have some kind of power over you. This will allow you to get information on how you can get a short-sale approved by asking them "how, since you (the lender) is the expert".
(3) To expidite the process, follow instructions on how to submit the package completely. It will only delay and may lead to cancellation of the short sale approval if it is not complete.
(4) Email and fax is the best way to contact the lender. As they seem to be very busy and hard to get a hold of by phone. This way, you have everything documented.
(5) Make sure you submit the 3rd-party authorization letter on a separate sheet of paper. Lenders will not contact you to let you know that you did not submit this. Time will be wasted waiting on this, especially if you are not aware that this is needed.
Hope this helps. In this everchanging market, selling short-sale properties is another source of keeping your top producer status going. Be an "A" player in this "C" market. This will show consumers that you are with them through "thick and thin" and that you will not bail out on them during a time like this.
("Rookie yesterday, today a pro")
Comments (3)Subscribe to CommentsComment