"Hi Sheri, did you get an offer when you started the short sale on Equator? "
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Negotiating a WF short sale in Equator
Started this discussion. Last reply by Raul Lozano May 10. 5 Replies 0 Likes
This is my first attempt to use Equator to process a short sale. The task is Negotiate Hud-1. Can you just change their figures and not submit an addendum or new purchase agreement? Neither seems…Continue
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JOYSIELYN HOWARD replied to SHERI WILSON's discussion Negotiating a WF short sale in Equator"Hi Sheri, you can negotiate when they give you a counter offer. It is usually on offers icon in the equator. You can either accept or change the amount you want on the itemized offer. Just make sure that you will have an addendum…"
Nazario Trujillo replied to SHERI WILSON's discussion Negotiating a WF short sale in Equator"You can change their figures in equator and submit it according to the pre-liminary HUD-1 you received from your Title Company, and go back and forth until they approve it or an agreement is met between WF and your Seller...Always remember your…"
"Thanks Mary Ann - I am surprised no one responded with answers. Maybe we can help each other!"
MaryAnn Ead replied to SHERI WILSON's discussion Negotiating a WF short sale in Equator"Sheri, I see you have no answers. Bummer! I was hoping to get some insight myself. I am doing my first short sale with WF on equator also. I have had a bit of an issue, myself, with what is required. It seems as though quite a bit of it has me left…"
Negotiating a WF short sale in Equator
This is my first attempt to use Equator to process a short sale. The task is Negotiate Hud-1. Can you just change their figures and not submit an addendum or new purchase agreement? Neither seems to be required. How likely is WF to approve our counter to their negotiated HUD-1? Anyone know? They don't seem to have a place to negotiate, just a place to accept WF's negotiations.See More
"Thanks Andy - I appreciate the advice. My situation is this, I am an inactive agent right now, semi-retired to take care of my parents. I hadn't represented sellers in short sales prior to going inactive, only buyers. …"
Andy Stetz replied to SHERI WILSON's discussion EQUATOR in the group Wells Fargo Short Sales"the trick is not to get frustrated. If you get frustrated, they win and you lose and your client loses. Make sure you become fully acquainted with all the different options available for your client(DIL,COOP with BOA, MODS, etc). I just…"
"Thanks Paul - there is a negotiator signed to my first file and I am emailing and calling her - no response but customer service at least tells me where she's at with it. My second file is the problem. I entered it as a short sale,…"
Paul Francis replied to SHERI WILSON's discussion EQUATOR in the group Wells Fargo Short Sales"Once you get past the underwriting stage and actually have a negotiator assigned to the file, it's not bad.
As for what Andy mentions about the required files requested that you might not have when it asks for all of them at once -- just…"
"Thank you Andy - looks like I'm in for a frustrating time with WF!
"
Andy Stetz replied to SHERI WILSON's discussion EQUATOR in the group Wells Fargo Short Sales"Yes, interesting, fun-no! Wait, wait, wait. Not task assigned. Suddenly you will be given 4 days to upload all the docs and your end date will probably be on a sunday night. When the assigned task of uploading documents is opened there…"
"Thanks Paul - I just want to make sure I am doing everything I can to get this short sale approved.
"
Paul Francis replied to SHERI WILSON's discussion EQUATOR in the group Wells Fargo Short Sales"You can request that everything be faxed in...
Other then that... you can't even upload documents or supporting documents the way Wells Fargo has it set up unless they assign the task.
Showing reports, BPO, Supporting documents,…"
"Thank you Paul - that's what I was afraid of. Any way to short-circuit the Equator process?
"
Paul Francis replied to SHERI WILSON's discussion EQUATOR in the group Wells Fargo Short Sales"Fun.... the first short sale I put into Equator when Wells Fargo used me as one of the guinea pigs probably took me over two hours to upload and fill everything out. Certainly not as simple as Bank of America is on Equator.
Have all of the…"
Profile Information
- Occupation
- Assistant
- Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
- LAS VEGAS, NV
- Short Sale Designations and/or Special Training
- CDPE (Certified Distressed Property Expert)
- Short Sale Transactions Completed
- 0-5
- Do you have any experience in Commercial Real Estate? If so, do you have the CCIM or any commercial designations? How many commercial transactions and dollar volume have you CLOSED?
- None
- About Me/Profile of yourself: - Please add your Brokerage Company name also!
- My name is Sheri Wilson. I was a licensed real estate agent for 10 years, inactive this year. I assist Broker Robin Camacho of Neighborhood Realty in Las Vegas in processing short sales.
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- January 31, 2012
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