All Forum Posts by: James Ward

Very very cool. Thanks very much!

IF you have not been reading the newsletter, you are missing out. I have many times found info in the newsletter that I overlooked on the site. And, if you are not reading the BP Blog, then you are even further missing out. Lots of great info on the Blog.

Sam,

Make sure you keep notes on everything. This way you will be able to report to others that are also in your same situation.

Way to go Sam! The sure way to be successful is to move forward even when others tell you that you can not. If there is anything I can do to help you out, please let me know.

I totally agree with Sam. You must make sure that EVERYONE who are apart of the transactions MUST be on the same page. You will save lots of headaches. if you verify everything in the beginning.

I will be submitting the S/S package this morning.

Nick, I will also put updates on here, but only if I have you and Johnny's permisssion.

Sounds great!
We can submit the S/S Package 1st thing in the a.m.

Thanks for the update NIck. I am very excited to see how this thing progresses. Please keep us all posted!

James

Edwin,

It has been a LONG time since any Lenders that are approvaing a Short Sale will allow anyone but the named part to close the transaction. Every acceptance Letter will name the Buyer.

I have never personally heard of Title Companies having issues with assignments, if the Approval Letter will allow it to happen.

Edwin,

Old School Title is very well known in the Short Sale world. Make sure to look over there fee schedule.

As for "finding" a local title. Schedule a meeting and go over everyting you plan to do, show your contracts, and how you plan to fund the transactions. Talking to Title companies is the ONLY way to verify that everyone will be on the same page.

Make sure you talk to the Title Company about how you expect things to happen. Many people getting into Short Sales are very surprised that Short Sales are different than most think. Also, you must make sure that EVERYONE on your team understands what YOU desire to accomplish.

Hope this helps!

Edwin,

If you are going to Interview a Negotiation company here are a few items you might want to inquire about:

1) How is the personal information of the home owner handled?
2) Who is actually negotiating the Short Sale?
3) How many Short Sales have they received Acceptance Letters?
4) How do they handle multiple Lenders/ Liens?
5) What do they charge and when is payment due?
6) Any Lenders they do not work?
7) Any locations/ states they do not work?

This should be a great start in a interview. But, also be prepared to be interviewed. You must be prepared to answer questions posed to you about your experience, knowledge, and business plan.

Make sure that you let the Negotiation Company what you expect of them. Make sure that you have fully covered everything before you move forward.

I hope this helps get you started!
James