Why Persevering Every Time on a Short Sale Deal is a Must!
This week’s Preforeclosure “Tip of the Week” is about why persevering on every short sale deal will net you more money and put more deals in your pipeline. In this video we go over a recent deal that we closed with Bank of America that is filled with hidden tips and tricks. Listen in as we cover what happens when a foreclosing lender declines your first offer, how soon after the banks first appraisal will they “typically” order another one, what conversation you “need” to have with the seller and their agent when you “explain” how you get paid on a short sale transaction and much more.
Visit www.PreForeclosureDailyGrind.com and www.ShortSaleDailyNews.com for more short sale videos and articles. Please leave your comments and questions so we can address them on future videos!
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Bob and Chris
great content, keep it up. I see a trend of Indy Mac/One West Bank limiting their seller concessions to $2500 Flat, no higher. DO you have any information that is the highest seller concession they will allow in their pooling and servicing agreements. It seems deals I worked on were Fannie Mae backed loans. They told me it was a Fannie Mae guideline which I know is BS. I have got more than $2500 seller concessions approved with multiple servicers with fannie mae backed loans
What’s the real skinny?
JB Beyer
Coastal Mitigation Partners
I use a sample purchase agreement that I email to the agent on how to write up the offer where the Facilitation Fee is charged to the buyer and matching amount is asked for seller concessions. It works well with Non- Fannie Mae loan types.
Sometimes that is not enough so I will work up a Screen cast video that verbally explains and do another video with Fee Agreement to Agent and place on my blog and send you a copy.
Can your team produce videos on this for everyone since this could be a state to state issue?
Respectfully
JB Beyer
Coastal Mitigation Partners
Here’s a funny quote to make you smile
Better to understand a little than to misunderstand a lot.