All Forum Posts by: Rob Huxman

She must have called you direct because when she posts

By the way, our house is a 2 story , 2000 sq ft home, outside of Jacksonville FL.. We have made quite a few upgrades like tile floors, sprinkler system and a big backyard, ceiling fans, new light fixtures, new paint... It is in very good condition.

There is no way to tell off of that!

This is the First time I have ever hit advanced reply because this is going to be a long one. Lets start at the top here

Jennifer,

The first problem you are having is yes your normal buyers are being pushed into other directions because of the time frame on the Short Sale. Which leads you to another problem the lender will not even talk to you unless there is a offer on the property. Which in most cases leads back to the other problem where Home Buyers are staying away from Short Sales. So you need a offer to get the process started (I offer 99k) If you get a offer to the lender and they say no to it you can generally get the lender to agree to a amount. Once that is done then you can advertise the property and say "Short Sale Approved." Then your house will sell!

Nationwidepi,

It is hard to tell if the property is priced to high by the info given Jennifer said its $50k less then it was 2 years ago. And now its at $145,000 Who knows what it was before wait I bet it was right around $195k Hard to tell without the comps.

Justin,

Same deal if you need a offer.

Matt,

Once again great post.

P NW,
The problem is it dropped for $195,000 to $145,000 That is the reason for the short sale.

Caleb,

Last month we were at 72.67% on 212 Short Sales.

Hope this helps.

Rob

I have one somewhere that I used a few years ago. I will look for it in my old computer. Just wondering why don't you want to market to home owners and find your own deals?

I don't know if everyone on here has heard yet or not... THE ECONOMY IS BAD RIGHT NOW!! (Sorry to break the news to ya!) This is why I don't do the normal A-B B-C transactions. Look at it like this. When you do the double close you are hoping to find a buyer that has A credit to wait on a Short Sale. Well with the Economy the way it is these buyers have become aware that Short Sales can take awhile in most cases (I avarage 36 days personally) So they move on to other transactions that they don't have to wait on. Then if they are FHA or VA it still will not happen. So you are better off going another route on these transactions. It is now 2010 Double closes worked great in 2005-2007. There are new ways of doing transactions if you want I can post the long version later. It is sunday and time for a family dinner.

It is just like any other Short Sale. If the lender is owed more then what the property is worth you can still do a short sale. The point where the insurance company will pay off thge mortgage should kick into effect though. 9 times out of 10 the lender require the borrower to have life insurance on the borrower to cover the price of the mortgage. That being said it does not always happen like that. So yes you can Short Sale with the lender they will still do a BPO and go to Negotiations on the property. If the property is paid off by insurance the owners next of kin still owes the lender the price of the loan. That is where the lenders are smart by making the reverse mortgage. they get paid twice in most situations. I know it sounds really crooked. All I got to say is welcome to Lending in America!

Nick here has a nice software program that is really user friendly and affordable. I would look at that if I were you. www.shortsaleartisan.com

Yet the rent is coming in at $1,800 and the mortgage would be around $1,100 It would cash flow. Some people are looking for that as well!

Its another source! This is someone that soft pulls credit for Mortgage leads and we get the leads 60-90 days late on there mortgage. They cost ya yet there worth it.

Lost my whole train of thought and forgot to add. I would let your buyers list know up front your thoughts on the property. I would also tell them that you have a feeling that he bought it lower and you might be able to get a better deal on it. And that you are not affraid to let him know that you have a offer yet it is lower then his asking price.

It's like the old saying one mans trash is anothers mans Treasure! I have sent off deals that I thought there is now way anyone will want this piece! Yet sure enough someone bought it.. So Just because you don't like it does not mean that the next guy won't love it and Thank you for sending it! Now if you are looking for someone to fly you around the world on there personal Leer Jet in appreciation I highly doubt that will happen. Yet someone just might want it. Hard to say