Check List for Taking a Short Sale Listing

Below is a checklist if you were to take on a Short Sale Listing:

•Do not lose out on possible income by being afraid to take the hard cases • Think outside the box and try not to generalize about short sales as a whole • Verify that the seller truly does have a hardship • Let the seller know they have to help you help themselves by providing required documents and signatures in a timely manner • Make sure your buyer is a quality buyer and willing to go the distance • Get as many backup offers as possible • Put your documents in the same order every time. • Choose your title company carefully. That is one of your greatest assets • Account for everything, but remember that your 1st HUD is a wish list • Think ahead for possible setbacks that may arise; expect the unexpected • Follow up every two business days or more if necessary • Form a healthy bond between you and your negotiator—this is someone you want on your side • Remember that the lender has to answer to a higher power—their investor or MI company • • Don’t take things personally, remain calm and patient! Remember two things: • Always work in the best interest of the seller • Always recommend Tax and Legal Counsel be contact by all parties