Where To Begin When Submitting A Short Sale Package

It is important to realize that when submitting a short sale package, you are building a case. The better the case, the deeper your discount. Think of yourself as an attorney preparing for a court hearing. If the attorney shows up unprepared, the case will be lost.

Before you submit your first short sale package, let’s look at an overview of what you are about to do:

You are going to submit a total of three offers. Each offer will have a different focus and will be higher than the previous.

The first offer will focus on the homeowners, their distress, the distress of the property, and the overall hardship of the situation. This will be your initial offer and your lowest.

The second offer will focus on the distress of the neighborhood, crime, job losses, natural disasters, or whatever is happening in the area. In this offer, you’ll raise your initial offer to get closer to the number the bank countered at.

The third offer is your highest and final offer. In this offer you will focus on the financial loss to the bank by denying your short sale. You’ll break down, step-by-step, how much the bank will actually lose, how long this will take, and you’ll send a copy to the loss mitigation reps boss.