Chicago Short Sale Realtor Advice: I’ve heard banks won’t do short sales. Is that true?

Posted on October 14th, 2010 in All Articles, Short Selling/Buying.

Chicago- I recently talked to a homeowner in foreclosure. She had heard of the short sale option. But, someone had told her that short sales are tough.

Besides the fact that this mortgage legal mess the banks are in just made short sales ALOT MORE LIKLEY…

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.

<strong>Many agents close short sales day in and day out.</strong> Short Sales are a specialized endeavor. They are much more complicated than your average real estate transaction.

<a href=””>Discover how other sellers successfully did a short sale and request a free consultation by clicking here.</a>

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. <strong>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. </strong>

You learn what words like BPO, FHA, VA, Fannie Mae, Freddie Mac, deficiency, servicer, sliced and diced, and delegated mean. Pretty soon you can negotiate a short sale 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. There is an art to the process… a skill to getting them done.. and not everyone has the stomach or skills to do them.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (312) 953-6725.

Discover how other sellers successfully completed a short sale and request a free consultation by <a href=””>clicking here</a>.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc..

Phone: (312) 953-6725. <a href=””></a>.

View My homes for sale at <a href=”http://”></a>.
Phil Buoscio, is a broker with Better Living Realty he leads the sales team “Phil Buoscio Team” and specializes in short sales in Chicago Illinois. Chicago Loan Modification Help can be referred to you. We don’t do loan modifications ourselves but we work with those who do.
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.