Realtor success short sales

Views:
 
     
 

Presentation Description

realtor success with short sales tampa, fl. for more details visit Hope Homes at www.stressfreehouse.com

Comments

Presentation Transcript

Slide 1: 

presented by: Hope Homes

Part 1 : 

Part 1 Introduction to Short Sales

What is a Short Sale? : 

What is a Short Sale? “A short sale occurs when the proceeds of a real estate sale fall short of the balance owed on the property”[1] 1 "Short sale (of house)" definition at Nolo.com.

Why Do Lenders Consider Short Sales? : 

Why Do Lenders Consider Short Sales? Lenders are in business to loan money, not own real estate If a lender forecloses, the value of the loan contributes to their insolvency Foreclosures cost lenders time and money The short sale offer is equal to or greater than what a lender can expect to gain by foreclosing and selling the property Property has been left in an “unsellable condition” by the seller

Current Market : 

Current Market How many agents have short sale listings? How many agents have walked away from short sale listings? How many agents have successfully negotiated and closed a short sale?

Did You Know… : 

Did You Know… Average broker or agent closes 10% of the short sales they attempt Foreclosures are at an all time high 50% of all Homes sold will be sold as a short sale If you are not working with short sales, you are missing at least 50% of the market

Who We Are : 

Who We Are We are Professional Loss Mitigators. Negotiating Short Sales is what we do exclusively Our Team has been negotiating short sales for over 6 years and has completed over 463 transactions Our Goal is to Create a WIN - WIN - WIN Home Owner – will avoid foreclosure Lender – will liquidate their non-performing asset You – will get paid your full commission without negotiating the short sale and you’ll help this homeowner avoid foreclosure creating more referrals for you

Why Do Short Sales? : 

Why Do Short Sales? Properties will sell faster if priced properly Seller avoids foreclosure on their credit Establishes you as the Solution Provider Seller will refer other clients to you You provide value to your buyers Generates income stream in slow market Helps stimulate the economy

Your Options for Listing Overleveraged Houses : 

Your Options for Listing Overleveraged Houses Turn them down because they won’t sell List the house at a price that is overpriced to cover all payoffs and closing costs List them as short sales and do the short sale negotiations yourself wasting your time Outsource Your Short Sale Negotiations to the Experts and create extra income without extra work

What You Need To Learn In Order To Negotiate Short Sales Successfully : 

What You Need To Learn In Order To Negotiate Short Sales Successfully How to get your short sale assigned to a mitigator immediately What a bank mitigator looks for in a short sale package and why they will put it on the bottom of his pile if he doesn’t like what he sees How to negotiate with lenders depending on what type of loan your seller has How the 1099 and IRS Form 982 work together

What You Need To Learn In Order To Negotiate Short Sales Successfully : 

How to negotiate Fannie Mae, Freddie Mac, FHA, VA, USDA, and Conventional mortgages with Private Mortgage insurance How to get junior lenders and IRS liens released from properties How to get the deal done when a lender wants your seller to sign a promissory note or deficiency judgment What You Need To Learn In Order To Negotiate Short Sales Successfully

What You Need To Learn In Order To Negotiate Short Sales Successfully : 

How to get the bank to approve every file by getting the BPO value on the property where they need to see it. How to present the short sale package to the bank so they not only review it fast but approve it How to structure the deal when the lender says that all junior lien holders can only get $1000-$2500 If you don’t know this information, 90% of your deals will be declined and you will waste your time What You Need To Learn In Order To Negotiate Short Sales Successfully

What If We Could… : 

What If We Could… GUARANTEE your commissions on short sale transactions upon closing (one exception) Give you back the time you would spend working on short sales Solve your clients’ current foreclosure issues which could enable you to work with them in the future Provide a Safety Net so your short sale doesn’t hit any landmines during the process Eliminate the costly and time consuming learning curve of negotiating short sales like the pros

Part 2 : 

Part 2 Actual Case Studies

Case Study #1 : 

Case Study #1

Case Study #2 : 

Case Study #2

The Seller : 

The Seller Redington Beach, Florida 33708

Part 3 : 

Part 3 Team Up with Us!

How We Work Together : 

How We Work Together You provide introduction to seller/client. We discuss process with seller and take care of all paperwork. We build the case for negotiation. We submit the offer(s) to the lender(s). We manage the brokers price opinion We negotiate a settlement with the lender(s). We pay off lender(s) and close with buyer. Title Company Sends you Your Commission.

Providing the Introduction to the Seller : 

Providing the Introduction to the Seller A cordial introduction to the seller is essential to our success for you When speaking with the seller, keep your conversation general Answer the questions that you feel comfortable answering but defer the rest to us (this gives us a reason to meet with the seller) Highlight the fact that you have aligned yourself with a company that specializes in short sales The initial conversation with the seller can take place on the phone or in person

We Discuss The Process andTake Care Of All Paperwork : 

We Discuss The Process andTake Care Of All Paperwork We will discuss the entire process with the seller We will verify that we have addressed all of their questions and concerns They can seek legal counsel or a CPA We will collect all of the short sale paperwork from the sellers

We Build The Case For Negotiation : 

We Build The Case For Negotiation Comparables Inspection Report Inspection Estimate Sellers Hardship Sexual Predators Local Articles Days on Market

We Submit The Offer(s) To The Lender(s) : 

We Submit The Offer(s) To The Lender(s) Starts the negotiation process with the lender Based on estimated sale price as provided by the realtor Offers incorporate repair estimate

We Manage The Brokers Price Opinion : 

We Manage The Brokers Price Opinion We will meet the BPO Agent at the property We provide comparables We provide the sellers hardship letter We provide the repair report and estimate We provide the purchase and sale contract We provide a detailed summary to the agent

We Negotiate A Settlement With The Lender(s) : 

We Negotiate A Settlement With The Lender(s) Mortgages, HELOCS, HOA, IRS, contractor Request Full Satisfaction of Liens Place appropriate verbiage in MLS Approvals Expire Planning for closing is critical

Why Partner with Us : 

Why Partner with Us You get your Full Commission and we do all the mitigation work (with one exception) You avoid wasting your time negotiating with banks This is not the best use of your time

Why Partner with Us : 

Why Partner with Us You get an immediate offer on the property allowing us to get the short sale process started NOW You can avoid all of the Short Sale Process Pitfalls because we know all of them You can list our other properties We give you motivated seller leads that we pay for

Commission Structure : 

Commission Structure You Can Earn Your Full Commission: 6% Listing Agreement 3% Paid to You for Listing 3% Paid to Buyers Agent Additional Bonus May Be Paid at Closing Credit restoration provided for seller which will allow them to purchase a future home. Potential sale opportunity for you.

How Do We Get Paid? : 

How Do We Get Paid? We get paid when we purchase the property for the negotiated debt from all lien holders and then sell the property for a higher price We earn our money upon the resale of the house

Slide 30: 

Call us today at 813.421.2190

authorStream Live Help