Top 5 Reasons Why Short Sales Crash

Buying a short sale can be very lucrative. However, the process is very challenging. It is important to know why most of these transactions fail.

Category:

Education

Tags:

• Short
• Sale
• Real
• Estate
• Foreclosure
• Training

[dpeeples19]

dimondghost,

Thank much. Let me know if there is anything else about short sales you would like to see put together.

[ricbuenossp]

Hey, I just found a very funny video of some fool jumping into the potomac river...he's giving away a free iPad too! Check it out at capitolshortsale. com

[hai21century]

Great educational video! Thanks

[Kaiserpayscash]

FREE INVESTORS AND REALTORS GROUP kaisersbuyerslistcom

[niktobaradaklaatu]

Dear enclave,

I think that is misrepresentation, even if your contact at the first lender said you can do it, because such payments from the buyer or seller to the second lender have to be done outside of escrow. Double check with your manager.

[enclave]

i will often use a license appraiser to validate the correct value on the property. Most BPO's are done by agents that do not have enough experience nor a license to value a property. Also it helps for you to speak with the BPO agent. With 2nd lenders when not accepting 1st lien payoff offer, you should ask 1st lien holder if buyer or seller can help with payoff, if so negotiate with 2nd. I've been able to close many transactions using this method.

[pive29]

BPOs are not 250!! they are from 50-100

[tomwinand]

Send that letter to the CFO CEO PRES VP of the 2nd company asking them to make a good business decision. You can only do this one time and if it's a fair offer but why work on a short sale the 2nd is not going to let close. I have never not had this work yet.

[tomwinand]

How I do that is is to give them 48 hours to call and fax the acceptance of that offer or I will change the listing to off market. I will work with the first because they will have the property sold at trustees sale then they have accepted the offer and it will be done in 27 days in (Utah) unfortunately you will get nothing and a 2nd loan.

[tomwinand]

Very good info right on. The only thing I would all is working with 2nd is a art and one way to put pressure on the 2nd to accept the offer the first has given $1,000 for FHA & VA or what ever the first has approved for conventional.

[Theworldisyourz09]

do you train people? whats the best way to get training in short sales?