The lender is the biggest challenge to face when it comes to any type of business such as in short sale real estate. This is because the process of the short sale would need the investor to deal with several lenders before they are able to agree with the most suitable price for both the buyer and the seller. There are three process parts and the parties would seem to overlook at times: contact the lender, negotiating figures, and creation of short sale packet. With all those process parts done well, the negotiation, the deal and the investment will then come out to be smooth.
The deal can either be continued or not by means of contacting the lender. In dealing with lenders, there are certain departments in the firm you would have to call first. You need to continue your communication with them as contacting once may not help you right away. If there's no direct number to their office, you may ask for some assistance. Once you are able to keep in touch with the right department, immediately ask for all the information you need such as their direct contact line, their fullname, the fullname of the person you would be directly dealing with as well as their office hours.
The dealer too must feel you have high regard with them and thus would need you to be dealing with them professionally. Banks and lenders do deal with a lot of clients who has concerns with short sale real estate and this means you are going to deal with them in a crucial manner too. Being preparing for the conversation will be helpful enough too. Banks has this ability of sniffing out possible new investors who can be either good or bad for them, and so never fail to grab the opportunity. One big help is preparing a list of questions you have in mind, earlier before you would be meeting with them.
You must not mention that you are a short sale real estate investor. What makes them turned down with a client is if they know right away that they are on short sale. You may tell them that you are there for a deal as a buyer's representative. Stand for what you tell them and for what you are there for.
Next, you will be waiting then for a short sale packet to be mailed out to you. Once you get the packet, carefully and neatly fill it out and submit to them the soonest possible time - and never be late. If you submit to them without completely filling out the form or missing some documents, you will miss the chance and your application for short sale real estate will be left without being reviewed the second time around. You need to comply to all their requirements and to submit certain documents.
Next, the lender will review your submitted packet and then proceeds with doing the appraisal of the property. Bottom line in this short sale real estate case is that you simply need to be patient with your lender so that what you are there for will be answered.
The deal can either be continued or not by means of contacting the lender. In dealing with lenders, there are certain departments in the firm you would have to call first. You need to continue your communication with them as contacting once may not help you right away. If there's no direct number to their office, you may ask for some assistance. Once you are able to keep in touch with the right department, immediately ask for all the information you need such as their direct contact line, their fullname, the fullname of the person you would be directly dealing with as well as their office hours.
The dealer too must feel you have high regard with them and thus would need you to be dealing with them professionally. Banks and lenders do deal with a lot of clients who has concerns with short sale real estate and this means you are going to deal with them in a crucial manner too. Being preparing for the conversation will be helpful enough too. Banks has this ability of sniffing out possible new investors who can be either good or bad for them, and so never fail to grab the opportunity. One big help is preparing a list of questions you have in mind, earlier before you would be meeting with them.
You must not mention that you are a short sale real estate investor. What makes them turned down with a client is if they know right away that they are on short sale. You may tell them that you are there for a deal as a buyer's representative. Stand for what you tell them and for what you are there for.
Next, you will be waiting then for a short sale packet to be mailed out to you. Once you get the packet, carefully and neatly fill it out and submit to them the soonest possible time - and never be late. If you submit to them without completely filling out the form or missing some documents, you will miss the chance and your application for short sale real estate will be left without being reviewed the second time around. You need to comply to all their requirements and to submit certain documents.
Next, the lender will review your submitted packet and then proceeds with doing the appraisal of the property. Bottom line in this short sale real estate case is that you simply need to be patient with your lender so that what you are there for will be answered.
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