Anfisa Siniavin's Blog - Short Sale
Date Posted : 2010-01-21 | Category : Short Sale | Comment : 6 comments
Found this great post today on
ShortSaleArtisan.com If you are pursuing short sales you will find this useful.
1. Pre-list on eBay. While eBay has become a household name and is frequently used to drum up interest in short sales, it is also a time consuming headache fraught with problems for short sale investors. Homeowners routinely screen listings and are likely to take issue with price variations especially once their relatives begin telling them how it is worth so much more. Be prudent and use eBay with caution.
2. Playing Nice with Bad Lenders. It’s essential to separate the good from the bad when it comes to lenders and obtaining financing. Don’t even think of playing the role of investor until you have all your ducks in a row when it comes to finance.
3. Making a Stupid Offer. Really, it’s done all the time. Have an escape clause in place especially when just getting started so you can kill your offer without having to lose face or a lot of cash. Better yet, have several contingencies in place but keep them realistic so you don’t frighten away other stakeholders.
4. Selling to Everyone. The world might be your oyster but it’s not your target audience. Know your market and make sure the message fits to maximize results. Know the needs of the homeowner, broker, agent, appraiser and all others then make a point of giving them exactly what is required every step of the way.
5. Fake it Till You Make It. Seriously, you are not as fly as you think. Take a step back to determine what you really need to succeed otherwise, you risk ruining your reputation before it has a chance to take flight. Arm yourself with the right process, the right people and the right property before you sign on the dotted line.
6. Assuming Dates Don’t Matter. Everything is time critical when it comes to short sales. Get it in writing, get it on time and deliver by the dictated date…always.
7. Irrational Exuberance. Don’t spend money before it’s in your account. Don’t forget the taxes and whatever else you do…don’t fall in love with any property.
