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
Tips for submitting Like I said a loan number on every sheet is important so just hand write it out on every single sheet. You may have 50 sheets, but take the time and do that because it’s extra insurance that all the sheets of your packet are going to be there. Banks are… Continue Reading
Proof of Funds Insist on some proof of funds by all buyers, that’s another important thing. Never accept an offer without some kind of proof that they buyer can actually close. A story is not good enough; the fact that you know the person is not good enough. You need to see: A bank statement… 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
[jwplayer mediaid="437"] 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…. Continue Reading
[jwplayer config="slide" mediaid="327"] Working with an agent The next step is all the interactions of listing your house. Listing your house is not mandatory to sell it, you can sell it yourself. However, having a realtor is sometimes required by your lender. If you have a FHA loan it’s required to have your house listed… Continue Reading
[jwplayer config="slide" mediaid="328"] First call to lender Once you’ve gotten the idea of how much time you have the first real action you need to take is to call your lender. You need to understand where they are what they want to do understand their intentions, and get a game plan on how exactly to work… Continue Reading
[jwplayer config="slide" mediaid="326"] Overview Before you start marketing for an offer you should first talk to your lender about a short sale. You need to get all the necessary information about your lenders requirements for doing a short sale. I will discuss exactly how to have that conversation. I am also going to discuss special… Continue Reading