Coaching
If I had a dollar for every short sale that didn’t close on time…
Coaching
Disputing a property’s value in a short sale: turn a no into a go
During a short sale, there may be various obstacles, with misaligned property values ranking near the top, but it doesn’t have to be a dealbreaker!
Coaching
Short sale standoffs: how to avoid getting hit
The short sale process can feel a lot like a wild west standoff, but there are ways to come out victorious, so let’s talk about those methods:
Coaching
Short sale approval letters don’t arrive in the blink of an eye
Short sale approval letters may look like they’ve been obtained simply by experts, but it takes time and doesn’t just happen with luck.
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Jacksonville short sale
May 3, 2011 at 6:41 am
Amen! Just had a BOA short sale approved, sent the docs to the buyer's side, and they forwarded to the buyer's lender….BOA. Same bank, both sides.
Short sale BOA wanted closing in 45 days after much arm twisting to move it past the standard 30 days. Buyer's BOA instantly asked to extend the term from 45 days to 60 days. We were on day 1, but they already knew for sure they couldn't pull it off in time.
Liz Benitez
May 3, 2011 at 8:14 am
I always try and have my clients prepared for a very short time frame to close once the Short Sale is approved. Unfortunately you are right about the lenders. There is nothing my clients can do to hurry them up.
LesleyLambert
May 3, 2011 at 10:15 am
I didn't know they ever closed on time 🙂
MH for Movoto
May 3, 2011 at 11:29 am
We recently did a survey of our Movoto Partner Agents and we asked them about their experiences with short sales. Everyone agreed that it took forever, but significantly more of them said that it took forever and worked out than said that it took forever and fell through. So that's something, I suppose.
Elizabeth
May 3, 2011 at 4:53 pm
Interesting… thanks for the tips!
Ken Bryant
May 12, 2011 at 10:03 am
Great Post! I'm closing my first "short sale" and even though the time frame was pretty quick (less than 60 days)I have a seller that doesn't want to leave and we're about to record…