Short Sales: The Benefits of Having an Agent on Your Side
Posted by: reipro, in Short SalesIt’s interesting the way that the real estate market has been going lately; but it does work to a real estate investor’s advantage - especially when those investors have the right partners on their side. When it comes to investing in short sales as a way to generate wealth in real estate, you just might find that the right partners aren’t just those whom you have connected with at the banks, but also real estate agents:
(source) . . .it’s why some real estate agents are learning the ins and outs of “short sales”.
“The agents that I know that are specializing in this are doing great business. Unfortunately,” said Brad Anderson, a mortgage broker who helps a lot of agents negotiate short sales with banks.
Simply put, you just might find that when you are looking into investing with short sales that it helps to have connections with those who have connections. When real estate agents are adept at negotiating short sales with the bank and they’re willing to work with you, you’ll find that it’s easier to make the investments that will help you to reach your goals.
Having the right partnerships in any business is the key: whether or not your business is real estate investment, whether or not you’re looking into short sales, you’ll find that your best bet is to make and take advantage of your connections.
Entries (RSS)
July 2nd, 2008 at 10:38 pm
On that note, you’ll want to make sure that the real estate agents are working with knows what they’re doing when it comes to short sales.
A simple test to separate the sheep from the goatsin this regard is to ask him the following question:
“What is the number one thing that determines whether or not a bank will approve a short sale?”
If their answer is anything other than “What the BPO Comes in at” then you know that you are probably not dealing with someone that has a lot of experience doing short sales.
…oh, and as an afterthought. The second most important thing in getting a short sale approved is submitting a complete package the first time.