Short Selling Real Estate
Can Stop Foreclosure

Most agents and investors avoid short selling real estate because it is seen as a hassle that may not be worth the time. If you are looking to the future, you will jump at the opportunity to learn short sales.

There are and always will be homeowners who have little or no equity and need to sell. Knowing how to do a short sale will create new options in real estate whether you are an investor, agent or homeowner.

Shorting a mortgage loan is when you contact a homeowner’s (who is behind on payments) mortgage company to negotiate a discount.

It may seem hard to believe at first but banks many times jump at the opportunity to accept a short sale. A mortgage company will often times accept a low offer and satisfy the lien because they know that it can be more costly to foreclose.

A home that is foreclosed on and “taken back” by the bank must be maintained and prepared for the open market. No matter what the condition, expenses will pile up just like they do for a homeowner.

Banks will do anything to avoid foreclosing on a house (within reason).

Real estate agents who learn short selling real estate are way ahead of the trends. The current foreclosure boom has left many homeowners who need to sell without any option. Negotiating a discount on a mortgage is a great alternative for a homeowner who has little equity to sell their house.

Real estate investors are completely missing the boat if they think they can compete in today’s market without knowing how to discount homes. Great deals are passing them by because they are not familiar with an easy way to create equity.

Homeowners who need to sell but have no room to negotiate, need to know these techniques. It can be the difference between selling a house with time to spare and being foreclosed upon by their bank.

Don’t let lack of knowledge be a deterrent to your future niche market. Take the initiative to learn short selling in real estate to push your business to the next level.

Contact the bank to request their short sale requirements so you can compile everything needed. Submit only a complete package and follow up every few days to check the status. Don’t be afraid to ask questions, as most banks have the same goal as you, stopping foreclosure.

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