Variations on rebate method I promised to go into a further discussion of some of the non-recommended variations of collecting money in a short sale process, there’s a lot of ways to do it. Real estate is complicated and there’s so many ways to make money in real estate. In general you’re slightly more limited… Continue Reading
Lesson 1 Options: Selling your house If you have chosen to move you have plenty of options. You may want to use a delay option along with any of the move options to facilitate a sale and to facilitate your move. A note regarding litigation which I mentioned in two of the previous strategies,… Continue Reading
Negotiating multiple liens What if there are multiple liens and you need to negotiate with multiple lien holders, how do you do that? The problem when you’re dealing with multiple liens is that the first mortgage will not approve a short sale unless all junior liens receive no more than a total of $1000. However, if you’re… Continue Reading
Shifting cuts and using email A couple extra tips on top of your negotiation: Many concessions can be passed on to the buyer or buyer’s agent. For instance, the bank may set your agents’ limit to 5%. You can go to the agent that’s representing the buyer and let them know that the bank is requiring… Continue Reading
Loss mitigator basics At some point when negotiating an acceptance letter and bringing your short sale to a successful close, you’re going to talk with an actual decision maker, an actual loss mitigator, someone who has some decision making capability. When you do, remember that the loss mitigator is a person. I’ve heard that he/she… Continue Reading
More follow up re BPO A Buyer’s Price Opinion or BPO is an appraisal or evaluation done by a real estate agent, sometimes done by an appraiser, in which case it is called an appraisal instead. You always want to specifically request an interior BPO or appraisal. Some banks will have somebody drive by,… Continue Reading
Calling Your Lender So after you’ve put together a good package and you send it in, you want to call your lender within 48 hours. Typically it will not be put it in the system in the first 48 hours, unless you’re working directly with an individual. When you call, let them know you sent… Continue Reading
Submitting Back-up Offers To Lenders Sometimes you’ll get other back up offers that come in after you have submitted an offer to your lender. Usually you should continue to show your house and follow up on potential buyers even after you have an offer submitted to the lender. Explain to the potential buyer that there’s… Continue Reading
The Offer Once you’ve listed your house, you’ve staged it and you’ve worked really hard, you may get an investor offer. At some point, you’re going to possibly have to fill out a purchase and sales agreement. There’s different ways you can do this. If you’re working with a realtor, there’s a good chance you… Continue Reading
Craigslist Another thing you should be doing when you our marketing your house is to use Craigslist. Craigslist is an absolute must. Craigslist.org is the website for listing homes, free classified listings of homes for sale. It’s an absolute must that you list your home in Craigslist. It’s free, it’s easy, it’s quick. You can… Continue Reading