Replies to This Discussion

Permalink Reply by Jeff Payne on August 8, 2012 at 1:48am

Why would you need any other software other than MLS to find out what an offer should be?  MLS has the comparable properties and the best data, hard to believe that this software would have factual data on values?

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Permalink Reply by Neil S. on August 8, 2012 at 6:18am

Hi Jeff,  The software has a complete proposal to give to the bank with all the correct wording and guidelines so you look professional with the layout and protocol , being a newbie to short sales want it look and feel like a pro so they don't just put in shredder as well as give a price that is calculated through all the data you input into to software.

Thanks for your reply.

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Permalink Reply by Clyde Rasmussen on August 8, 2012 at 3:51am

No one knows your business better than you. Expensive software is no substitute for a good agent that is willing to research, create a CMA, post the listing, gather seller finiancials, bring in a viable offer, wear down the bank and keep everyone involved and on track. You should be putting together your own deal.

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Permalink Reply by Neil S. on August 8, 2012 at 6:32am

Hi Clyde,  I understand and agree with what you said. I know the real estate values and pricing is this area as I live here all my life, building contractor and r.e. licensee, but I was thinking that the way he portrays the software stating you put all the data in on so many deals it is a big time saver, he states 5 minutes or under 10 minutes it will pop out a complete letter, value of property and just send off to bank. He also states when they receive your letter it will have more clout then the average short sale investor sending a package over to them that they may not even look at otherwise. The main idea was the professionalism of putting the whole package together. Did you every here of Short Sale Offer Wizard Software or Kevin Cannon from FL. I understand there are tons of programs and guys out there hawking their wares. Do you know of any basic layout package or presentation to bank as I am a newbie. Thanks in advance and thanks for your reply.

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Permalink Reply by Jeff Payne on August 8, 2012 at 9:02am

Neil it sounds like you already have your mind made up.  This is my opinion and I have not looked at the software but I am going to say it is not worth anything.  What is a complete proposal to a bank?  The larger lenders are using equator for their offer submission so I really can not see what  a "proposal" will do for you?  The BIG problem is that this program is going to tell you the value of the property?  That is non sense.  You are the agent and you have better data in MLS.   I AM GOING TO SCREAM SO YOU GET ME....... THERE IS NO SUCH THING AS A SHORT CUT OR MAGIC PILL DEALING WITH SHORT SALES!!!!!  OK, back to being calm, everything you need to know to put a short sale package together is right here on this site.  If you are getting into short sales thinking there is a short cut, please turn around now and go back to regular sales.  Sorry to be so harsh be we have been doing these for a long time and have seen every type of short sale ideas and short sale quick approval ideas imaginable.  A clean package with a GOOD offer is what you need, PLUS plenty of motivation to get stay on top of the short sale....

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Permalink Reply by Neil S. on August 8, 2012 at 10:01am

Thanks a lot for the heads up. Maybe I should of explained this better,  I am a local building contractor and even though I have a r.e. licensee I don't do anything with it. Basically I am looking for short sales, estates, handyman specials, really run down and trying to rehab one at a time to keep my head above water in this economy.  I appreciate the yelling, no joke, so I can understand better there are no short cuts as you state. I thought just maybe I could contact bank and send a proposal letter stating that I would buy house all cash and they would not go through the short sale procedure. So listening to what you said, NO MAGIC PILL, NO SHORT CUT! I post another message that I was trying to contact the bank directly before the short sale or goes to foreclosure I am basically wasting my time.  I have to wait for it to come to market, Correct? I have been watching another house for 2 years now, boarded up, they owe 2 years back taxes, bank winterized it and has a company maintain it. I really wanted so bad to contact bank and make offer or send postcard to owner to save his credit but listening to you and the others in this forum it seems that it is not easy. :-(   Thanks for your help.

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Permalink Reply by Jeff Payne on August 8, 2012 at 11:20am

Seriously.... go find an aggressive agent and put them to work for you. The selling side pays their commission so it does not cost you anything and you do not get a better deal without an agent

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Permalink Reply by Clyde Rasmussen on August 8, 2012 at 10:02am

I have not experienced an all in one short sale software client package. It might be possible to create a short sale version of a familiar sales program like T-Producer. Many agents use various combinations of common programs to work short sales. The binder function or one-note is handy too. I may get edited by the mods for this but I like using a combination of outlook and acrobat professional (not the basic free version).

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Permalink Reply by Joseph Alfe on August 8, 2012 at 3:49pm

There is simply no way on Earth that some cut rate (or even top dollar) software can have even a fraction of lenders/investors current guidelines.  They change hourly in some cases.

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Permalink Reply by TOP END Properties on August 12, 2012 at 5:26pm

That software is worth $0.  Lenders approve Short Sales based solely on BPO Valuations.  They don't care if its the highest comps, they just need it to be supported by a CMA Valuation.  Keep the sales within 1 Mile MAX, similar sqft and similar condition and you'll be a short sale valuation master.

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