Testimonial Video

A cup of coffee with a recent client, Phyllis, and her Realtor, Robert.
Her FHA short sale was approved in LESS THAN 3 HOURS!
Yes, 3 HOURS!....and closed in less than 3 weeks!

Buyer’s Agent Frustration…

Being a buyer’s agent in a short sale can be frustrating at times.  First, you show the house KNOWING that it will take more time than a “normal” transaction to get to the closing table, but you show it anyway because your clients asked you to.

Once your clients have decided that they like the property and want to submit an offer, it can be challenging to figure out what the amount should be because acceptance of it is dependent on lender approval, not simply the seller signing off on it.

Beyond determining the offer amount, you’re also in a position to have “blind faith” (in most cases) that the listing Realtor knows what they’re doing on the other side of the transaction.  That is…

  • Are they going to submit the short sale package correctly, or in parts-and-pieces that cause frustration at the lender and delays in getting an answer.
  • Are they going to follow-up on a regular basis with the lender and check on your offer, or are they too busy in their own “regular listing” business to do this with any consistency?
  • Are they going to fight for your offer to be accepted, or are they simply going to reiterate to you a counter offer number that the lender gives them, hoping that your client will still be interested on those terms?
  • Are they going to know what to do if the lender wants cash from the seller at closing, or a promissory note?  Are they going to know how to handle a “value discrepancy” when the lender comes back and says it’s worth X, when you know, and the DATA shows it’s really worth less.
  • I could list many more complexities that are important to understand on the listing side of a transaction, like IRS liens, child support liens, etc. and how they can wreck havoc on a short sale, but you get my point.

The truth is, there are A LOT of details in a short sale that need to be dealt with and no two transactions are the same.  In our present environment, it’s hard to show property to a client and NOT run into a short sale or foreclosure listing.

So what can you do?

Educate yourself.  Watch webinars, listen to conference calls, do a short sale transaction from the listing side, anything and everything to gain knowledge.  Ask for help and guidance.  Get US involved….we’ll gladly help you.

Honestly, learning the short sale business and being good at it, is not easy.  But we’ve negotiated over $20 MILLION in short sale transactions in a few short years, and yes, we’ve seen almost everything.  We’ve had transactions fall apart because a 2nd lien wouldn’t play ball even though the deal made sense, and we’ve had transactions take over a year to get to closing….but those are the extreme ends of the spectrum.  Normally a short sale should take between 2-4 months to get closed and we can certainly help you, even if you’re on the buyer’s side of things.

Start by getting your FREE video about how to create the initial offer by putting your name and email in the box at the right at the top of the page.

If your situation is more urgent and you want help NOW, simply fill in the quick form below, and either I or one of my staff will contact you within 2 business days.

At the end of the day, it’s about stopping as many foreclosures as possible and we’d love to help you get to closing.