What rookie mistakes to avoid if you are new to Short Sales? Some of you may find these humorous, but they happen . . . alot!
Do not try to short sale properties that are current on their mortgage.
Do not wait for the short sale package to come back from the lender before submitting it.
Do not try to offer the lender a short sale without a buyer.
Do not list the property above market value to cover full payoff.
Do not try to close on the property without the Lender’s approval.
Do not let yourself get Frustrated with the process.
Things that you should consider when it comes to short sales:
Get Educated about the process.
Meeting the BPO agent at the house is a must.
Learn about how Bankruptcy can affect the foreclosure process.
If you are not too familiar with the short sale process, or you do not have the time or resources to follow through, throw your ego out the window and look into outsourcing the short sale work to a third party.
This entry was posted on Friday, June 5th, 2009 at 4:55 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
