St. Augustine, Florida (PressExposure) December 26, 2007 -- When someone becomes involved in the short sales business, it is so important to learn all the right things to say and do. There are 5 statements one must never say. âThis house will be fixed up in no time!â A short sale means the lender is selling them short, or taking less money than they feel they deserve (like the balance of the loan) in exchange for the property. If itâs not going to be a lot of time, trouble or effort to get the house in saleable condition, then a lender will be more inclined to foreclosure on it rather than sell it at a huge loss.
âThe homeowner is just going through a rough spot-Iâm sure theyâll be back on their feet in no time.â The position that the investor must take is to convince the lender that the homeownerâs finances will probably never see the light of day again. This is why the hardship letter was written and all the debts the homeowner had been tallied up. Working with distressed homeowners is part of the business. It is quite possible to become very fond of them. Remember to avoid the trap of feeling badly about talking down the seller.
Never give the impression that direness of the homeowners financial straits have been oversold, this can completely blow the short sale. âYeah, they wonât have the money move out until they sell this houseâ A bank canât give a homeowner any money for a short sale. If it sounds as if the property owner is receiving money, legally the bank has got to end negotiations. (and the business may get in trouble too) There are ways to help a distressed homeowner get up the money to move (by selling something of value, computers, appliances etc.) but know that the money canât come from the short sale of the house. âWhat?â This is not an arena which it pays to be forthright about the investorâs lack of knowledge and experience. The key is to sell the bank on the idea of purchasing this property at a huge discount will make up the difference in lack of time and trouble. So be easy to deal with and this means know the information. Always make a list of things needed and if a challenge occurs say with confidence, âIâll have that for you by tomorrow.â (or the appropriate time frame) There are resources so use them. âI donât have time for thisâ never make the lender feel on edge. Take the time and act happy about it, after all, the property is being sold under value.
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Mary Geronimo 303-B Anastasia Blvd. #148 St. Augustine, FL 32080 904-819-0676 Email Address: email@example.com [http://www.FreeShortSaleCourse.com]
This Press Release has been submitted by PREasy.com