"I'm guessing this is your first short sale...it's treated just like a normal sale one accepted offer only.
I have accepted a strong backup if it is cash...just in case #1 bails. But it stays in my file and the lender doesn't know…"
"I'm located in California...like Mike said there is a wealth of information on this site, but the best way to learn how to successfully close a short sale is to roll up your sleeves and jump in. But you need to be prepared to work hard and…"
I have never represented a buyer and had direct contact with the bank. The listing agent, or whomever is negotiating the short sale should be fighting the value.
Representing the buyer you wouldn't have access to the sellers personal…"
"I have done many short sales with Chase, have a 100% closing rate and I am in California.
But..negotiating on behalf of buyer? Not sure what you mean by that.
I am happy to help if you need it..just email me at firstname.lastname@example.org"
"Lynn....register at Twitter.com and contact BofA thru there....their customer service is very good and we call them "Twitter Angels".
Update on my file...I got "contract approval" on 8/17"..it looks totally different that a…"
"I am working on a Bank of America FHA short sale as well....but haven't had nearly the problems you have, as we have no impending sale date. But it does seem the only way I can get anyone to respond to my file is thru the Twitter Angels. "
"All you can do is to be the squeeky wheel and make phone calls, emails, twitter...anything you can do to get it to an upper level escalation.
Remind them that the seller should not be penalized for attempting to keep their credit intact. That if…"
"When you order your HUD from escrow instruct them to add a line item as "relocation assistance". This is a debit on the sellers side and deducted from the proceeds going to the lender.
Your escrow officer should be able to help you with it."
"I work only in California, so I am not sure what the norm is across the nation.
HAFA is a nationwide program and part of that program is relocation assistance or the seller.
But I think you have to ask for the incentive, upfront from the beginning.…"
"It's simple....I always have it on the HUD from the beginning.
I do a little research first on the lender to see what other's have been able to get.
Most lender may not offer it...but if you request it from the beginning it seems to get…"
I just got a short sale approval with a stubborn 2nd (Chase), they wanted a payoff of 28k...the first would only allow 6k.
We removed the loan from being processed as a HAFA short sale and went to a traditional...that allowed the first to…"
"Nearly 100% of mine get cash back...the only possible exception I have is one I am working on right now. We have had to move the short sale from a HAFA to a traditional in order to allocate more money to a stubborn 2nd lien holder.
But most lenders…"
I have dealt with Greentree, they were a big lender (at least in my area) during the lending boom.
I am in California...if you need a referral...I would be happy to help.
I am a CDPE, plus a background of 25+ years in escrow.
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?
No commercial experience
About Me/Profile of yourself: - Please add your Brokerage Company name also!
I have over 25 years of experience in title and escrow. I managed a local title company, as well as running a successful, high volume escrow desk. I handled "short sales" before they became a household work. Hard work, tenacity and staying one step ahead of the lenders request is my key to success.
Now I am a licensed real estate agent, specializing in short sales. My short sale closing rate is 100% (knock on wood).
Realty World Providence Properties
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November 21, 2011
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