Reno Real Estate Logic

Being buried alive in short sales and trying to dig out of this incredibly complex system of platforms, openers, Phase I negotiators, Phase II negotiators, Phase III negotiators, investors, attorneys and banks is just about the closest a broker can get to an Armageddon in business.

The daily feeds are totally vampire-ick and if one were really able to see who is sucking the blood from our vaults, it’s definitely the psycho systems that the asset managers have implemented to drive people to jump in front of locomotives.

One institution I am negotiating with now says that they are receiving 10,000 short sale packages a week and cannot keep up with the pace. Claims of people scanning documents non-stop while thousands of files are incubating into thousands more. It’s viral, it’s painful and it’s the reality of the daily business grind that most agents are chained to.

Millions of dollars are being lost every minute while pathetic negotiators put deals on hold (many for 6 months) before they contact the Realtor who has desperately and diligently prepared volumes of paper work supporting the short sale transaction including confidential financial documents that normally you would only want your CPA to have. And then, only to have the deal fall into the abyss because of lack of conscious effort by the banks to move the short sale along the yellow brick road.

You can get a fabulous deal in a short sale if you can find the right broker to work the deal. And preferably one that can slay dragons, put out fires and stop foreclosures while simultaneously dealing with raging buyers and sellers. You got to have a Knight to do business in this landscape.

Give me a call to discuss the complete matrix of how the short sale systems work for the major banks including Bank of America, Washington Mutual, Wells Fargo, JP Morgan, Chase, National City and any others that are still in business. You only have a limited time once you have a Notice of Default to move on the opportunity to avoid a foreclosure and your credit for 10 years.

Ramp up, it’s going to get worse. Call me before you become part of the blood bath. Or if you are looking to buy a short sale you absolutely must learn the rules.