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I wanted to know in order to do a short sale, Do you need a real estate agent to list the home and negotiate with the bank or can you as a homeowner do it your self to save the fee’s and closing costs. If you cant deal directly with the lender. Then how do all these INVESTORS do it to make a profit in real estate business targeting homeowners in foreclosure?

1 Thought on Short Sale Help help?
  1. Reply
    August 22, 2011 at 10:04 am

    Your success with your attempt to complete a short sale rests exclusively with the mind set of the bank/lender. An uncooperative banker/lender can be approached by the nicest and brightest mortgagor, real estate agent or attorney and summarily reject every reasonable offer.

    No experience is truly required but a true negotiator might be faster and more efficient. The only fees you save by doing it yourself are the brokers or attorneys fees. This can be considerable. Closing costs will have to be negotiated as part of the dealings. Bankers or lenders giving up principal and interest often are irritated by being asked to pay closing fees ordinarily shared between buyer and seller. Try structuring the short sale so as to visually eliminate this entire subject.

    Investors are usually in a better position because the banks/lenders understand they are holding cash or credit lines making deals leaner and cleaner. Generally they have superior knowledge of local real estate market values and costs for making the property marketable.

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