Short Sales

Real Estate Sales Representative with Rossman Realty

I wanted to share this little bit of information with all Realtors who are dealing with lenders on short sales. In most cases, the lender or lenders will not tell you what they will accept for a price until after an offer is made by a potential buyer.

Do your homework. Price the home right. Put together the loss mitigation package with your sellers before you list the property. Loss mitigation people are like underwriters for mortgages. They are lazy. If the package is put together properly, they will look at it quickly and get the BPO done. If it is put together sloppily, they will ignore it. I am doing a short sale right now and from the day we received the offer till the day the lender had the BPO done and accepted the offer was 10 days.


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