Things You'll Need:
- A Homeowner that is behind on their house payments
- A Short Sale Package from the bank
- A Realtor
- A Closing Attorney
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Step 1
Find a homeowner that is behind on payments and needs to sell fast. Do this by: signs, newspaper ads, direct mail, and door knocking.
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Step 2
Request a short sale package from the lender that has the loan on the home.
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Step 3
Have the homeowners fill out the short sale package. They will need to have last 2 months of bank statements, last 2 pay stubs, last year tax returns.
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Step 4
Fax the short sale package to the bank. Follow up with them to make sure it was received and see if you can get a name and phone number of the person assigned to the account.
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Step 5
The bank will then order a BPO or Appraisal on the property. Make sure you meet the BPO agent at the property.
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Step 6
Once you get the approval on the short sale, send the approval letter to the attorney for closing
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Step 7
For more training on Short Sales go to: http://www.FreeShortSaleSecrets.com
Comments
stevehornteam said
on 4/1/2009 We have a lot of short sale tips on our website, www.shortsalesdoneeasy.com. We are Phoenix area professionals and can get your short sale closed!
ofishelgri said
on 3/8/2008 Be Careful!
Some of the “hints & tips” you gave here are illegal in my state!
Check with your local Real Estate Board and get their “Do & Don’t List” on Short-Sales before you venture out to help these homeowners!
Remember, the laws governing this procedure vary from state to state!
Howie2234 said
on 9/9/2007 Another great site for info. Especially if you're a realtor Short Sale Headquarters www.shortsaleheadquarters.com
JHowMan said
on 9/4/2007 Great site for more information:
www.shortsellhouse.com
corybarnett said
on 4/25/2007 I have and email with sample market letters on how to attact sellers that are in a pre-foreclosure situation. Go to: http:www.FreeShortSaleSecrets.com
Enjoy!