Short Sale Secrets
You Need To Know

Learning a few short sale secrets will allow you to close more deals faster. Most people who think they know how to discount a mortgage loan are actually hurting their chances by not knowing the correct way.

You must always follow the requirements that loss mitigation sends you exactly. Not doing so is making the negotiator unhappy and putting your offer at the bottom of the pile.

Don’t be a pest. Call weekly or every few days, don’t ever call a negotiator on a daily basis. They have your file and they will get to you.

Ask the negotiator about the process and what to expect. Typically just asking questions will give you all the information you need to know.

If your calls or ignored and you feel as though you are getting nowhere be patient. Ignore the urge to ask for a loss mitigation supervisor to complain and just become nicer but more persistent.

There are times that call for a little pushing. When you feel you have been as nice as you can be and there is nothing more you can do, then and only then is it time to lose your temper a bit. It can help to be stern and strong, but never ever yell.

If you are getting the run around and are not able to get a straight answer after all the paperwork has been submitted, tell them the homeowner is going to declare bankruptcy. Say something like “the homeowner has been solicited to declare bankruptcy and I am not sure if I can convince them not to, I need an answer now”. This can work like a charm.

Trial and error will be the best way to learn, but I am sure these short sale techniques and secrets will help.

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