They told her, “Banks never accept short sale offers. You are wasting your time if you try one.” As a result, she never researched her options and lost her home to foreclosure.
Many agents close short sales day in and day out. Short Sales are a specialized endeavor. They are much more complicated than your average real estate transaction.
The closest comparison I can think of is learning to ride a bike. Remember the first time you tried to ride a bike and you crashed and fell off?
You felt like you would never be able to ride a bike. Maybe you told your mother, “I’m just not as smart as Timmy. He knows how to ride a bike.” But, then you try it again.
This time you make it a few feet before crashing. By the end of the day you are riding your bike around. Turns out Timmy wasn’t so smart after all. Short sales are like that.
The first one is very frustrating. You find yourself saying, “I just don’t know what these banks want. This is crazy.” But, the next few are a lot easier. Soon you understand the process.
And you realize that short sales are just like anything else in life. Once you figure out how the system works, then it becomes easy.
You learn what words like BPO, FHA, VA, Fannie Mae, Freddie Mac, deficiency, servicer, sliced and diced, and delegated mean. Soon you are negotiating short sales with confidence.
Are you are looking to short sell your house? Experience and persistence are the keys to short sale success. Experience because you have learned what to do.
Persistence to keep on going when others would quit. Not all short sale offers get approved the first time. After that first offer gets turned down, you now know what the lender wants.
This makes it easy to get the next short sale offer accepted. Thinking about a short sale? Get more info at www.ShortSaleSuperMan.com from the Chicago short sale specialist.
I can help you short sale your property and get back on your feet. Send me an e-mail at email@example.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thanks for reading this, Phillip Buoscio.
Phillip is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:
Phone: (312) 953-6725. firstname.lastname@example.org.
View My homes for sale at www.BetterLivingRealty.com. Learn more from the Chicago short sale specialist here
Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.
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Phillip Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Phillip’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..
This information on A Common Chicago Short Sale Misconception: I’ve Heard Banks Won’t Do Short Sales. Is That True? is provided as a courtesy to our viewers to help them make informed decisions.