Don’t Let Your Short Sale End Up in Foreclosure!

With a national success rate on short sales of less than 50%, are you prepared to take a risk with a listing agent who is inexperienced in this field?  The banks do not make it easy and you need a disciplined, aggressive agent who has closed at least 100 short sales.  Too often, the listing agent or negotiator will give up at the first  ”no” that they get from the bank. The short sale negotiation is a game and whoever plays the best game wins.  Many variables exist that need to be in place in order to insure the success of a short sale.  The short sale package, consisting of all of the seller’s financial information and purchase contract need to be set up for success and there are many details to consider in preparing for a short sale.  Additionally, the banks do not have the infrastructure in place to approve all of the short sales they are faced with.  You must find a realtor who is well-versed in the dynamics of a short sale and one who is experienced enough to get into the bank’s hierarchy if need be.   In some cases, however, if the bank’s net on a short sale is not favorable, there is a first and a second mortgage that will not work together or a mortgage insurance company wanting additional funds from the seller at closing, a the bank and or seller may let the property go into foreclosure.  We have a trained team who specializes in short sales and have a 97% success rate in getting these sales approved and closed.