Hi folks. Do You Want To Close More Short Sales? Of course you do. Here are some tips that may help.
Be in complete charge of the transaction. Know what you can and can’t do then make sure the lender understands that you know.
Make sure the BPO agent has the information you need them to have PRIOR to them doing the BPO. And know what that information is.
Make sure you are aware of ALL liens on the property prior to taking the listing.
Understand that the Seller is not always the Borrower. That works both ways. Example: Child owns the property but the borrowers are the parents. Or...the Seller assumed a mortgage when they purchased the property but the loan is still in the original borrower’s name.
Stay focused on the transaction. Don’t let “drama” cloud your vision.
And most importantly, understand that “Short Sale Denied” means....this time. Find a new buyer and try again. And keep trying until you get the job done.
This is in no way a comprehensive list but it will give you some things to think about. Any questions?
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