Chicago Short Sales: Could The Realtor You Hire Kill Your Short Sale?

Posted on February 14th, 2011 in All Articles, Short Selling/Buying.

Chicago IL – The biggest reason people short sale their house is to avoid foreclosure. They cannot afford the house anymore and the bank has said they will foreclose soon.

If the short sale is not successful, then their lender will foreclose on the house. We at the Stop Foreclosure Institute have successfully closed short sales for several years.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

We’ve made it our business to know what we are doing. But, we see many agents that have no clue about short sales (or the short sale process) listing short sales.

This gives short sales a bad name. Many agents have been involved in short sales where the listing agent didn’t know what they were doing.

Because of that the short sale wasn’t successful and that agent and their customer wasted time. In the future they are going to think twice before showing a short sale. This hurts other short sale sellers.

It really gets on my nerves that people who don’t know what they are doing can ruin it for everyone else. If you are thinking about short selling your home, make sure you hire a competent, experienced short sale agent.

(A competent, experienced agent will be successful at 80-90% of all the short sales they take on.)

Here are a few of the things that agent should avoid.

1. Submitting multiple offers to the short sale lender. Only the best offer should be submitted. A confused mind says no. Most short sale negotiators have between 50 and 200 short sale files on their desk.

To ask them to weigh the benefits of 3 short sale offers on just one of those 50 files is probably more than their brain can handle. No, I’m not saying their brain is stupid.

It’s just that a human brain can only handle so much information before it stops working.

2. Realtors submitting incomplete paperwork to the short sale lender. There is a method to follow. Every good short sale realtor understands stacking order, and the importance of easy to read paperwork.

3. Submitting low offers to the lender. All this does is waste time. If a lender is not likely to accept the offer, then don’t waste 45-60 days negotiating it with them.

Get an offer at (or near) fair market value and submit that to the short sale lender. That helps avoid wasting everyone’s time.

Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at myrealtorphil@gmail.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.

Visit your Chicago short sale expert at www.ShortSaleSuperMan.com

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, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

We know Chicago Short Sales. I am a Chicago Short Sale Realtor. Chicagoland Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor. We do business in Pilsen. McKinley Park. Bridgeport. Wicker Park. West Town. Ukranian Village. Lincoln Park. Near North. River North. East Village. Logan Square. Uptown. Edison Park. Portage Park. Hermosa. Lincoln Park, South Loop, West Loop. Bronzeville. Hyde Park. Kenwood. Oak Park. Brookfield. Cicero. Berwyn. Evanston. LaGrange. LaGrange Park. Riverside. We sell condos, single family homes, lots, land, multi units, two flats, three flats, etc.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. 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. The views expressed here are Phil Buoscio’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

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