Will "Short sale" become the "it" phrase for 2008? Only time will tell.......
Here are some surefire ways to get your short sale rejected:
1. Have your agent or attorney write your hardship letter.
2. Don't fully complete your short sale package.
3. Don't be willing to relinquish assets.
4. Show unwillingness to work with the bank prior to asking for a short sale.
5. Have an inexperienced agent negotiating for you with the bank.
6. Threaten the bank (i.e. "I'll just leave the house with the door open").
7. Don't answer all of the questions the bank asks.
8. Decide to request a short sale a week before the foreclosure sale is scheduled.
9. Treat it as an emotional transaction instead of a business transaction.
10. Don't be willing to hang your ego in the closet for the short sale process.
Remember, the bank is under no obligation whatsoever to do a short sale. Banks are not interested in making a short sale a "smooth trouble-free transaction". They want their money - it's that simple.
Tina in Virginia
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Tina Merritt and Assoc. can be reached at email: tina@tinamerritt.com or 757-287-6338.
Our Network consists of both buyer and listing specialists helping buyers and sellers in Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Isle of Wight County, Hampton, Newport News and Poquoson, Virginia.
It's so frustrating when home owners feel they need to not disclose everything because they'll be embarrassed. Hello? But this is the time to put your cards on the table and show them to everyone possible in order to get the house sold and you moved on with your life. Don't try to hide things as it will come back at you. Good post.
Donna - you are absolutely right! Time to swallow the pride and bite the tongue. I doubt if the homeowner were asked to forgive tens to hundreds of thousnds of dollars that they would be nice about it either. Thanks for visiting and commenting!
Tina in Virginia
Great Post Tina, I have a short sale coming in ARAGONA this week. Im ready for the Coaster Ride !
Alison Creamer
REMAX Allegiance
www.BziBee.com, www.AlisonCreamer.com
Tina--great post! I like the DENIED! pic. helpful tips for a short sale--and ofcourse, one of your best peices of advice-- consult an attorney on short sale.
REALTORS - Here is some good news for you!!! We have an awesome program in place for the Realtors that are out in the field working hard everyday to make a living and there are no costs invloved for you or the homeowners, we have taken the sting out of your Short Sale Deal Processing. You bring us the listing and we do all of the processing for your plus we Guarantee a definite no bars held (3%) Commission for just being the Agent and it doesn't stop there we also Guarantee and Additional (3%) Commission for bringing the End-Buyer to the closing table as well. Zachary (6%) Commisssion is Guaranteed. Our turn around time for our Short Sales are (35 - 50)Days depending upon the Bank/Lender.
THE STATES LISTED BELOW---WE DO NOT PROCESS SHORT SALES:
Alabama
Colorado
Idaho
Indiana
Kansas
Kentucky
Maine
Michigan
Minnesota
Missouri
North Dakota
New Mexico
Oregon
Rhode Island
South Dakota
Tennessee
Vermont
Wisconsin
Wyoming
REALTORS - all other STATES WE DO PROCESS Short Sales!!!
I hope this information is helpful for you and that it will benefit you greatly because we do all the work for you and you go out & get the listings because (1) Short Sale per month can bring an extra $100,000 + Per Year!!! You can contact me direct @ 1-888-474-6781 Ext. 137.