About two weeks ago I went to a short sale seminar sponsored by Grand Canyon Title company. I learned a lot in this seminar. In this market real estate agents are increasingly being asked questions on short sales.
Dan Forbes (Real Estate Zoo) posted ”10 Short Sale Questions Answered by a Bank Loss Mitigator” over on his Active Rain Blog. Dan summarizes a conference call he was on with a bank loss mitigation officer. Here is a snapshot:
2. How many Short Sale files are you working on? Answer: I am currently working on 400 files.
4. Does the type of hardship the Borrower is facing make a difference? Answer: Not really.
6. Do you simply reject low offers? Answer: Not really. We do have certain targets we are trying to reach.
9. Do you require a home to be listed before accepting a short sale? Answer: No the home doesn’t have to be listed. We will talk directly with the buyer/investor. We don’t usually talk with the borrower.
You’ll have to visit his blog for the complete run down.
Below are some other relvant blog pieces on the emerging short sale phenomenon:
- The Resurgance of Short Sales (Greater Tucson Real Estate Blog – Valorie Bradley)
- Preparing for a Short Sale in Phoenix Real Estate (Phoenix Arizona Real Estate – Jonathon Dalton)
- Troubled Homeowners Are Finding a New Way to Sell (AZ Republic – H/T Arizona Real Estate Notebook)
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on Oct 1st, 2007 at 6:40 pm
Thanks for referring to my entry on short sales Shailesh, and thanks for posting a link to Dan Forbes for more information regarding the subject. It’s a tough market and we need to be prepared for any and everything!
on Oct 28th, 2008 at 12:03 pm
I just wanted to let you, and your readers, know that Live Free Investment Group puts on short sale workshops in Phoenix. It’s a great opportunity for mortgage brokers and real estate agents to learn the real world techniques that are working in today’s market, from a company that is getting short sales approved every day.
For a schedule of events, visit the website at http://www.livefreeinvestmentgroup.com and view the “Calendar of Events”.
on Jan 5th, 2009 at 4:39 pm
Great advice from a loss mitigator!
http://www.shortsalesdoneeasy.com