The Short Sale Listing Package
Listing Disclosure Letter
Letter of Authorization,
Short Sale Detail Sheet,
Short Sale Questionnaire,
Short Sale… Continue
Added by Bryant Tutas on August 29, 2009 at 6:00am —
Are you a short sale specialist? Are your hands cramped from using the phone? Is your neck permanently twisted from being on hold all day? Are you tired of your faxes getting lost, buyers walking and your files being closed? What is going on? How can you improve your short sale processing and get an "edge" on success? Well, we've got a solution.…
Added by Wendy Rulnick on August 27, 2009 at 10:00am —
In April I listed a nice golf course frontage home in Sebring for $150,000. The seller's husband had died and she could no longer afford the home. There were also a pile of unpaid bills and incurred debt she didn't know about.
Not long after that, we got a cash offer. We submitted a complete and comprehensive package in April, confirmed receipt! We have a short sale negotiator in our office and she's very thourough and professional. She has been contacted CWHL once a week, only to hear the… Continue
Added by Andrea Mills on August 26, 2009 at 4:40pm —
There is more than one version of the Bank of America
approval letter. One without the dreaded "deficiency" reference. Mind you, not stating they reserve the right to pursue a deficiency may not mean Bank of America has given up that right, but it does cause less trepidation.
Deficiency... what deficiency?
My theory - they are leaving out the deficiency reference, but not "forgetting" about… Continue
Added by Wendy Rulnick on August 22, 2009 at 1:49pm —
Allison Stewart wrote a very good post this week titled WALK THIS WAY... CAN BUYERS JUST WALK AWAY FROM A CONTRACT?
. Allison’s post is talking about Buyers who feel they can just walk away from a Short Sale transaction and get their deposit back because they are just tired of waiting. They feel the contract is not… Continue
Added by Bryant Tutas on August 16, 2009 at 5:00am —
Are you helping sellers with short sales? Part of the lender’s process will be to verify if your seller has a true financial hardship. Short sale lenders analyze the information you provide, including paystubs, bank statements, tax returns and the financial worksheet. They will run a credit report, they will review bank statements line by line, and they won't just gloss over the financial worksheet.
If something does not "add up", be prepared for the following questions and… Continue
Added by Wendy Rulnick on August 15, 2009 at 10:00am —
BofA has cancelled my 2nd lien approval 2x so far. They said that the BPO was too high compared to the offer. They want a higher offer. My jaw dropped...they don't have any authority. Wellsfargo (1st Lient) has already approved the sales price and package 1.5 months ago. BofA is playing the game. We are also offering them over the original 10% which is $10,000 which Wells approved. Now it is at the 3rd negotiator and I'm hoping they don't kick it out again.
Added by Barrett Thomas on August 10, 2009 at 5:46pm —
When I’m hired as your Listing Agent handling your Lakeland Short Sale, time is of the essence. The lenders may have filed already a Lis-Pendens, which puts the property already in a pre-foreclosure status.
Pricing your home is the most crucial step to marketing and selling
– the comparative market analysis that I will provide is comprehensive and more emphasis is given to recent sales comparables similar to your home that are in distress as well as condition. My price… Continue
Added by Petra Norris on August 10, 2009 at 12:15pm —
I sent out a listing agreement a couple of weeks ago for a Destin Florida condo. This was a Bank of America short sale, and no payments have been made for 9 months. I never received the listing paperwork back, so just wrote it off.
Today I got a call from “Clyde”, who said he was a licensed real estate agent in the sellers' home state of Georgia and knew them personally. He was helping the sellers with a short sale of their primary residence. Clyde said the sellers still wanted me to… Continue
Added by Wendy Rulnick on August 4, 2009 at 6:02am —
"I had the fortune to be part of your short sale basics webinar. I want to express my gratitude and appreciation to Wendy Rulnick and Broker Bryant sharing their expertise in a conversational setting walking us students through from start to finish of a typical Short Sale transaction. This webinar was filled with materials and information giving the most inexperienced the confidence taking on Short Sales.
Having participated in classroom environment, read, studied short sale blogs,… Continue
Added by Wendy Rulnick on August 2, 2009 at 9:30am —