The biggest reason people short sale their house is to avoid foreclosure. They cannot afford the house anymore and the bank has said they will foreclose soon.
If the short sale is not successful, then their lender will foreclose on the house. We at the Tallahassee and Fort Lauderdale Foreclosure Institute have successfully closed short sales for several years.
We’ve made it our business to know what we are doing. But, we see many agents that have no clue about short sales (or the short sale process) listing short sales.
This gives short sales a bad name. Many agents have been involved in short sales where the listing agent didn’t know what they were doing.
Because of that, the short sale wasn’t successful and that agent and their customer wasted time. In the future, they are going to think twice before showing a short sale. This hurts other short sale sellers.
It really gets on my nerves that people who don’t know what they are doing can ruin it for everyone else. If you are thinking about short selling your home, make sure you hire a competent, experienced short sale agent.
(A competent, experienced agent will be successful at 80-90% of all the short sales they take on.)
Here are a few of the things that agent should avoid.
1. Submitting multiple offers to the short sale lender. Only the best offer should be submitted. A confused mind says no. Most short sale negotiators have between 50 and 200 short sale files on their desk.
To ask them to weigh the benefits of 3 short sale offers on just one of those 50 files is probably more than their brain can handle. No, I’m not saying their brain is stupid.
It’s just that a human brain can only handle so much information before it stops working.
2. Realtors submitting incomplete paperwork to the short sale lender. There is a method to follow. Every good short sale realtor understands stacking order, and the importance of easy to read paperwork.
3. Submitting low offers to the lender. All this does is waste time. If a lender is not likely to accept the offer, then don’t waste 45-60 days negotiating it with them.
Get an offer at (or near) fair market value and submit that to the short sale lender. That helps avoid wasting everyone’s time.
Thinking about a short sale?
I can help you short sale your property and never pay the bank another penny. Send me an e-mail at info@FloridaConnectsInc.com . I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me in Fort Lauderdale at (954) 543-1794.
Thanks for reading this, Annett T. Block.
Annett T. Block is a Real Estate Broker and Short Sales Advocate:
Fort Lauderdale Phone: (954) 543-1794
View My homes for sale at www.FloridaConnectsInc.com.
Annett T. Block specializes in loan modification assistance and short sales in Florida. Florida Loan Modification help, Florida Short Sales. Florida Short Sale realtor. Short Sale Realtor. FL Short Sales. Florida Realtor.
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