You are negotiating a short sale with a lender. You call in and talk to a someone in a call center overseas. They are very helpful and give you the fax number for the short sale paperwork.
You fax the short sale package. A few day later you call in to follow up. (Most lenders systems take a few days to process the paperwork.)
They tell you that they have no record of having received your paperwork. “That’s pathetic”, you tell them. “I sent it to this fax number. Can you confirm that is the right one?”
“No, that is not the correct fax number”, they tell you. “Here is the correct fax number.” This is why simple follow up is so important if you want a chance at a successful short sale.
Small mistakes like this happen all the time. Let’s say an agent is not familiar with the process. Do you think they will become frustrated after experiencing all the mistakes compounded together?
I think so. To have the best chance at success your agent needs to follow up on the short sale twice a week. Most agents don’t do this. As a result, they aren’t successful at short sales.
That’s why you hear them say the following. “I hate short sales. They are so frustrating. They take forever. Most of mine have dragged out for 9-12 months. The short sale lenders are so tough to work with.”
Why can’t these agents follow up on their short sale file twice a week? Because they don’t specialize in short sales. Your short sale is just one of eight other things they are working on.
A buyer comes to town for a week to buy a home. The agent is busy driving them all over town that week. They don’t have time to follow up on your file.
They are burned out next week and take a few days off. They get back to work on Wednesday. Wednesday thru Friday are consumed with catching up on everything else.
They have to call back three other sellers, show homes to another buyer, and follow up on their closings. They don’t follow up on your file until the next week.
What chance does your short sale have? Everyone knows focus is the key to success. I have chosen to focus on short sales.
Because of this, my short sale sellers know that I will handle their file properly. Thinking about a short sale?
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 at www.ShortSaleSuperMan.com
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 Why Do Some Chicago Short Sales Succeed When Others Don’t? is provided as a courtesy to our viewers to help them make informed decisions.