« Back to blog

Short Sales: Tips For Realtors

Posted on: April 12th, 2012 | No Comments

The short sale. It can be a big challenge for realtors to make one of these turn out well for everyone concerned. The fact that a mortgage is involved can put a bad taste in the home owner’s mouth – and that can translate into difficulties during negotiation.

 

Our webinar will give you some in-depth advice on making these tricky sales work, but until then, here are a handful of tips.

 

As a realtor, you need to emphasize how important it is for the seller to show the house to a number of potential buyers. Since a short sale client is most likely still going to be living in their home, they may feel awkward about having home inspectors or others strolling through the residence. Unfortunately, this is par for the course in a short sale. If you prepare clients for their mixed or unpleasant emotions about the situation, it can help things go more smoothly.

 

Another fact you should inform your short sale clients of is that they will have to provide monthly financial records and bank statements to the banks. Make sure the client is keeping track of all receipts, checks, and any other financial transaction.

 

You can also help the client see where some hang-ups can occur during the short sale. Some mortgage companies may require a promissory note that says the seller will reimburse them. Clients should also be primed to expect changes in market value from week to week. In addition to these tips, you can also point out the need for clients to be accommodating about their purchase offers.

 

Be sure to attend our free webinar on Tuesday, April 17th at 11 AM! In our Short Sales: The Top 10 Issues webinar, you’ll get more tips that will give you the edge you need to be the best short sale realtor on your block. Register here!

 

If you enjoyed this post, please share it – and don’t forget to subscribe to our blog!

Martin Lenich Martin Lenich (133 Posts)

In addition to owning his own Inspect-It 1st franchise, Martin Lenich is the General Manager of Inspect-It 1st. Mr. Lenich’s expertise spans over 25 years in the inspection, design, and construction industry, branding and marketing, technical and operational management, risk management, technology implementation, as well as training. As a leader of the Inspect-It 1st team, he continuously identifies opportunities to enhance clients' experiences with Inspect-It 1st, and to keep Inspect-It 1st positioned as the industry's Gold Standard in residential and commercial property inspections. Inspect-It 1st inspectors, “provide the right balance of technical detail and business sensitivity to the art and science of property inspection” – Martin Lenich.




Tags: , , , ,

Leave a Reply







Our home inspection company's history began in 1991 with the establishment of American Home Inspection. Over the course of the following seven years, a home inspection business prototype was developed that could be implemented anywhere in the United States. Our founders believed they had a unique methodology of providing homebuyers and sellers with consistent, professional and unbiased home inspections.

http://blog.inspectit1st.com © 2012. All Rights Reserved.