Hello Short Sale Superstars!
We are set to release a Short Sale Super Star Survival Guide and we want your Tips; We want to know your BEST Short Sale Survival Tips and so does the world!!! Only Ten will be accepted so make them juicy and powerful. Please read the directions and details below. If you’re tip is accepted your full name, city and state will be listed below your TIP as a contributor.
This will be a free survival guide for Investors, Homeowners, Agents and any other real estate professionals nationwide!
Step by step instructions to enter:
1. Limit the title of your tip to 140 characters and that the explanation of the tip is ideally between 150-250 words.
2. You may email the tip as well if you’d like to firstname.lastname@example.org
Thank you all in advance for volunteering to share your experience. Please reach out if you have any questions to 1-888-664-6964.
Submit Complete Paperwork
Make sure that your initial paperwork is accurate and complete. Then be consistent on everything submitted from then on. If your initial paperwork had an initial and another submitted later does not, you will be having a name affidavit signed by all parties before closing. Each deviation requires a written explanation and more signatures. Save yourself and your client time and start out carefully from the beginning.
Prepare to unwind. Order a full title report prior to actively listing or negotiating with anyone. This will show anything that you may have to address during any negotiations with anyone involved in the transaction. Always know the situation that the homeowner, administrator, or anyone representing the legal deeded owner of the property. Bring downs on the title report may be necessary depending on the situation. Always keep notes!!
TIP - Always document the details of your conversations
The servicer documents or record everything, make sure you do. I use RealtyJuggler to document the details of my conversations whether it's with the homeowner or servicer, or something I need to request or include, like updated financials. Include names, ID number, date, time and what the conversation was about...
Tip #1 - Hit "#" after leaving a voice mail for your negotiator. Doing so will mark your message as "urgent" and insure it is heard first. Also, call back a second time and say "I think I forgot to leave the loan number on my first message", and be sure to hit "#" again.
This will allow you to leave 2 vm messages with your negotiator without being "pushy" and also insure they are heard first!
Tip #2 - Find out who the Investor is on the loan. The Investor is the actual DECISION MAKER and who you want to speak with when problems arise!!!
Tip #3 - See what the maximum allowable commission is (some banks pay up to 10% commission)!!!
Which banks pay up to 10% commision?
Wells Fargo on their portfolio loan short sales.
1) Make sure you always add 3% recurring & none recurring fee closing cost credit from seller to buyer on your hud. 99% of lenders honor that.
Consumers may contact an institution's federal banking regulator directly to report complaints against financial institutions or to ask questions related to those institutions. The link below provides a tool to help determine the appropriate federal banking regulator to contact:
|If you are unable to locate the appropriate federal regulator or if your financial institution is regulated by the Federal Reserve System, we will need additional information in order to route your complaint for investigation. Please resubmit your correspondence with the additional information requested below:
If you are submitting correspondence on behalf of another individual, they required a third party authorization signed by the consumer.
More information on the Federal Reserve s consumer complaint process is located on our website at:
The following are other links you may find helpful.
CFPB is also great to complain to along with social media (Twitter REALLY gets attention from the banks)!!!
I actually had someone from B of A contact our office and ask us to STOP posting complaints on Twitter b/c their office was getting so many calls.
...BOOOOOM!!! Score one for the good guys!!!!
Good to know. If i only go online and say my stories... I could destroy chase reputation all together. Bunch of thieves...
BTW: They closed my $3mil short sale case behind my back with my seller & buyer and pulled my name from commission list after 5 short sale approval... They called it SHORT PAY and closed with same exact amount they approved for short sale minus commission.
Do you have any recourse?