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 [email protected]   


Thank you all in advance for volunteering to share your experience. Please reach out if you have any questions to 1-888-664-6964.

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  1. Meet the bank appraiser / BPO agent at the property and be prepared: This is probably the largest reason for denials on short sales, when the value by the bank comes in way higher than our offer, or even way higher than the market or property condition dictates. Most appraisers and BPO agents will consider the items you give them or explain to them during the inspection and can often help get the bank’s value in line with our offer, which will result in an approval. You should meet them with comps, repair bids, and also point out any damage issues that may not be visible to the naked eye. If the appraiser or BPO agent is from another area, you can also let them know about local market condition trends, etc.

can't agree more!

I think it's 90% of the approval depends on the BPO or appraisal. I have done Many BPOs and been approved with over 26 asset managers. That is very important to appear there and do what Amber said. 

TIP: Align yourself with a Short Sale Negotiator that can catapult you past the bean counters, fits you in the lenders box and gets the right approvals!

An experienced, solutions driven, Short Sale Negotiator (SSN) is your number one asset on your team.

• One that understands the lenders systems, streamlines the process and does more than push/process paperwork.

• You want to align yourself with a SSN that has proven strategies to postpone Trustee Sales, understands complex deals (i.e. Probate Reverse Mortgage with additional liens, Multiple Lienholders with IRS, FTB and judgements, HOA foreclosed Short Sale, etc)

• One that pre-underwrites the Short Sale package based on investor guidelines, to ensure success for your distressed seller.

• One that can help you develop and structure a detailed Value Dispute Package (VDP) to set you up for success at the Broker Price Opinion (BPO) and/or Appraisal, this VDP can also be used when/if the bank counters.

• One that understands follow ups, urgency and has multiple escalation sources.

• One that runs the Statement of Information at the same time the preliminary title report is ordered to uncover any additional liens that need to be negotiated.

Anyone can process/coordinate a short sale; an experienced, solutions driven, Short Sale Negotiator gets you the right approvals and covers all bases from start to finish.

When I am working a short sale, in my mind I am the pilot.  The pilot
has a crew that includes  buyer, seller, buyer’s agent, lender, etc.
In order for the plane to fly right and land safely the captain must
be positive and must communicate with everyone on board especially
when turbulence hits.

For example, I recently had a deal where a  very difficult negotiator
told me they were not going to accept the buyer’s offer and they
wanted $30,000 more and they were not going to give the sellers
relocation assistance.  Instead of giving up, I regrouped and decided
to wait a few days and call back. I stayed positive and when I called
back,  I got a different negotiator that took the offer and gave the
sellers relocation assistance!

I had another deal where the negotiator tried to get the buyer to come
up $80,000.  Again, I didn’t lose my cool.  I provided as much
documentation as I could to show the bank they were overpriced.  I
provided feedback from agents that  had stated the home was
overpriced, etc.   It worked and the bank accepted the offer!

In conclusion, the best advice I can give anyone working a short sale
is to remain calm and stay positive. Your crew is depending on you to
land the plane.  If everyone sees you lose control then they lose
control.  Stay positive throughout the entire transaction no matter
how bad it seems!

Homeowner Tips:

1) Preparing for a short sale should includes speaking to professionals such as attorneys and CPAs to get the best picture of the legal and tax implications and potential documents may be once a short sale is completed.  Some states such as Arizona have anti deficiency statutes in the event of a foreclosure, HOWEVER, you should always seek the advice of an expert in the legal and tax field to get a true understanding of how your state's laws may protect you.  

2) Short Sales only move forward and possibly quicker if the Lender is given the requested information immediately.  Delays simply do not push the file back a few days~~it can actually push it back weeks.  Lenders are not sitting at the desk waiting on receipt of requested materials.  They're dealing with possibly hundreds of files so your file may go to the back of the line if we've met a cutoff for a request.  

3) Make sure you check your mail for any bank notices.  Banks were in the habit (and it appears it may come back around) of service releasing - having your mortgage handled by a new company.  These changes are mandated by law to be sent to the homeowner before, during and after.  Giving your agent this heads up may save not only time but also allow them to proactively package a short sale for the new lender avoiding any potential delays.

TIP:   Call the lender first then do your homework

Find out their guidelines on commissions, allowance to junior liens, electronic signatures allowed, foreclosure postponement, relocation incentive given or not and the documents they require. Submit exactly what the lender wants as it must pass quality control audits .Do not send what you think they need   Do not try to put a round peg in a square hole.

Title: Know the CFPB Guidelines, Escalation Contacts & ALL attached Liens & Judgments!


After working solely on short sales for over a decade, the best tips we can offer to all industry professionals are regarding escalations and liens.


  1. Knowing the CFPB guidelines and the necessary escalation contacts for your file will help you keep the bank on the right track throughout the process - if they are not meeting the guidelines, don't be afraid to call them out.
  2. Find a title company to work with who can pull a title search prior to beginning negotiations. Many sellers simply do not know what liens/judgments are attached to their properties, or do not disclose everything. Know what needs to be negotiated up front so you do not have any problems after all your hard work in getting to the closing table.

Melissa McConnell

There is nothing worse then getting a short sale approval letter and then ordering lien and title to find you have liens/Judgments to negotiate.  Especially if there is an IRS lien which takes at least 30 days to set aside the lien from the property.   The minute I get a complete short sale package, I ask the closing agent to order lien and title.   If there are liens then I have them negotiated simultaneously with the short sale itself and put the liens on the HUD to attempt to get the bank pay for all or part of the liens.  I find that many times they will pay for a portion of them, especially the HOA liens.  If the amount of liens are too much for the bank and buyer to contribute, then see if the realtors can pitch in a portion of their commission to get the deal closed.


Kristine Zelazo



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