Short Sale Practice •
Common Short Sale Mistakes • Top 10 List 1. Inadequate education • • •
Know what ss is - not an entitlement Time frame for the process Deal with the lender as loss mitigation specialist
2. Dealing with Suspects not Prospects • • • •
They have at least the light hardship Overleveraged - not hardship Home owners attitude Ss is not short STAY - ready to move!
3. Lack of Funding •
More down payments, seasoning, first time buyers
4. Not knowing the real value of the property • • •
You are the professionals - know how to do this 10 comps - 2 high and 2 low Apples to apples; bed/bth/sq ft/year/distance 4