Welcome to our Short Sale Group!

ross; RE: Referral in Nashville, TN

1] will be contacting you shrtly: win the day, dave meyers

Where do we start. Trying to send out resumes with no success. If yu could give me a guiding light .Here in Chicago we have a huge amount of forclousres

Hello just signed up to Realtown, this sight looks great. I do have one question does anyone do Bpo's to get listings from lenders directly? and has anyone heard of doing Bpo's for free?

Try Titanium solutions.

www.titaniuminc.com/login.aspx

They pay you to visit the homeowner and try to assist the bank to handle the loan modification, and if that doesn't work you can solicit them for the lisitng. It is alot more than this, but a great company.

I am about to represent a buyer who is interested in a short sale and wanted to ask you if it is recommended to ask for seller contribution I herd some banks will not pay it at closing even when they accept the offer, and also on the MLS they list 3% commission, Can they lower the commission before closing?

Each MLS has its own rules for the compensation. In my MLS (in San Francisco East Bay, CA) we note the short sale disclosure , and note that any adjustment required by lenders will be split 50/50. So you'll have to check your MLS rules on the commission.

On buyer credits, I'd say most banks allow it. Depends on the bank. Bank of America does not allow credits. Some will ask credits to be reduced in order to net their investor the minimum per their formula.

It all depends, no easy answer to that one.

Can somebody tell me how they market themselves to get short sale listings? Do you mail or do face to face contact to an NOD list? Do you advertise in print or in the internet? I am in Southern California.

Thanks.

Elizabeth Eugnenio

Hello, Elizabeth! It is quite unfortunate that Realtors and other licensed agents seem to be outnumbered by people trying to offer their loss mitigation services to homeowners even if they are out of state, especially. Also, you will see their overwhelming ads on TV, radio, flyers, etc. to market their services. Thus, even homeowners who genuinely need our expertise do not know who to trust anymore and fall prey for these scammers.

I used to send bulk postcard mailers but it did not work enough to generate short sale listings. Now, I focus on calling my sphere of influence and it works better. Friends know who in their neighborhood are needing help. Once I get a listing, I walk the street with my flyers and door knock, that is, only after I check with my Title rep for NOD list in the area. There, usually, at least 5 properties that are 'under water' and their frontyard tells you there exist problems in keeping their homes.

In this current business situation, we have to learn to become more creative and keep doing what works.

Cynthia

Are there any good & reputable Short Sale lead generation companies?

do you realize a shortsale is a financial transaction, not a real estate transaction, and if the seller is in default the property needs to be bonded,

for double the amount of the property.

Do you have anything to add.