I am working with a team of Investors and funding sources focused specifically on more expensive homes.  When owners are getting behind on payments and face the threat of imminent foreclosure, there is ONLY one option.  Sell the house.  Avoiding foreclosure is very important for all sellers.  The embarrassment of losing a house to the bank can be avoided in most cases.  Banks strongly prefer a short sale over foreclosure.

I understand there are some concerns about representation with your clients.  Under normal circumstances, representing the seller and getting the highest and best price is the goal.  In an imminent foreclosure situation, the primary goal is to get the house SOLD and avoid foreclosure.  Anything less is a failure of fiduciary representation.  My team is very good at negotiating away all deficiency issues.  We cannot guarantee this, because we can’t control what the bank does, but very often we are completely successful in negotiating a full satisfaction of mortgage on behalf of our sellers.  With this in mind, the actual purchase price with the bank is not a significant issue with a short sale.  The amount that the bank accepts is still disclosed to the seller and they sign off on the final HUD.

Normally I would ask you to introduce me to the seller in person.  Since I’m currently not able to travel to every market that I work in, it is more difficult for this step to take place.  As you know, the information required to submit a short sale is very private.  I will probably never meet the seller[s].  The information they provide to me is private, but since I don’t know them, they don’t have to be embarrassed that someone on their street has all their private information.  I honestly don’t personally need to see a short sale package.  However, the bank is notorious for losing documents and requiring submitting the short sale package numerous times.  It is essential that this information is available for resubmission so that the bank negotiations are not delayed.

My team requires that we do our own negotiation.  We put the house under contract directly with the seller.  We always relist the property with you, unless there is a reason that you choose not to be or are unable to be the listing agent.  In this way, we can give you a full commission.  Since the agreement you have on the property is with us, you aren’t dependent on what the bank will provide as the commission.  They try to negotiate away the commission.  We always offer a full commission and that commission does not depend on the amount authorized by the bank.  We have done thousands of short sales on luxury homes in all 50 states and are looking for excellent agents to work with in your market.

I’m building a relationship with you that will include multiple transactions.  The incentive for me to do a good job and get the house sold is very high.  If things go poorly, it is very unlikely that we will be able to do multiple deals.

Looking forward to doing multiple transactions with you!

Byron

507-319-5788