All Forum Posts by: James Ward

Another piece of advice- make sure who ever is contacting BofA is staying up on things. If you wait 48* and you do not hear back about the extension, send out another request. This time to the next higher level of person. Keep up on things until you get what you want.

Persistance is the key!

Wells Fargo will ask for lots of documents. This is pretty standard practice. Make sure you provide them everything they desire. If an item is missing make sure you provide a letter that fully explains the missing item and have the letter signed and dated.

Nick,

I guess I will up the ante. My company will submit 10% of our fees also.

And by the way, notice it didn't take me forever to say what I wanted to say.

Have a great day BP!

Thos,

You will run into problems if you keep looking at a Short Sale byway of Loan Balance. All Lenders look at the current value. You must make sure that you base all of your offers and all info that justifies those offers on the current value, or your perception of the value.

As for working with the Lenders, make sure that you are fully justifing your offers. Stand strong on your offers. And be prepared to walk away if needed.

As for the "listing" price. You will find many many different opinions on this. And most are successful with how they list and when. As a negotiator, I like the properties to be listed as soon as possible, if that is the way a Buyer will be found. As for the price, I like to draw attention immediately.

I hope this has helped.

There are lots of different Short Sale Software that are currently offered. You need to review several, and see which one fits best with your business plan.

Don't just look at costs, but what the software offers and how will it fill your needs.

Thos,

What are you attempting to accomplish? Are you attemtping to perform a Short Sale and then resell?

If you give us a little more info about what you want to accomplish, we can give better advice.

Thanks.

I have recently been a party to a few transactions where the underwriter required 2 Appraisals. All were Short Sales where the investor was immediately reselling the property for profit. So, the underwriters felt better knowing that 2 seperate Appraisers had placed a value on the property.

Your post was GREAT!
When I read the Title,I was like, WHAT?!?

Thanks for the humor...

Josh,

Why didn't you send her all your "contacts". We all know you have a "Top" Secret roll-a-dex. You and this Realtor could be rolling off the Billion Dollar Bulk Deals.

On another note, maybe, the Realtor was just setting their own bar low. This way they could come back to you later on and really impress you. (Just a thought.)

Once again, thanks for the humor. It is always a good way to start my day!

Welcome Johnny!

You will find that the more time you spend on BP, the more you will enjoy the site.

James