“A short sale occurs when the proceeds of a real estate sale fall short of the balance that is owed on the property”
• Lenders are in the business to loan money, not own real estate.• If the lender forecloses, the value of the loan contributes to their insolvency.• The Short Sale offer is equal to or greater than what a lender can expect to gain by foreclosing or selling the property.• Property has been left in an “unsellable condition” by the seller.
Current Market • How many Agents have Short Sales? • How many Agents have Walked Away from short sale listings? • How many Agents have Successfully Negotiated and Closed a Short Sale?
Did You Know? • Average Broker or Agent closes 10% of the Short Sales that 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• We are a professional short sale management group that manages an exclusive team of short sale experts.• Our Team has been negotiating Short Sales for over 4 years and have completed over 300 transactions.• Our Goal is to Create a WIN-WIN-WIN • Homeowners avoid Foreclosure • Lender liquidates their non-performing assets. • You get paid your full commission without negotiating the short sale helping the homeowners avoid foreclosure creating more referrals for you.
Properties that are priced properly will sell faster. 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 a slow market. Helps Stimulate the Economy
Turn them down because they won’t sell List the house at a price that is too high to cover all payoffs and closing costs List them as Short Sales and do the negotiations yourself wasting your time. Outsource your Short Sale Negotiations to the Experts and create extra income without extra work.
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 file if he doesn’t like what he sees. How to negotiate with lenders depending on what type of loan the seller has. How the 1099 and IRS Form 982 work together
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 the property. How to get the deal done when a lender wants your seller to sign a promissory note or deficiency judgment
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- $3000 If you don’t know this information, 90% of your deals will be declined and you will waste your time.
GUARANTEE your commissions on short sale transactions upon closing 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.
Case Study Lien Amount Payoff 1st Mortgage $264,135.00 $130,000 HOA Lien 0 0 Contractors Liens 0 0 IRS Liens 0 0 Total 264,135.00 $130,000 Total Discount 134,135.00 Realtor Commission $7,800 Commission without us 0
Case Study Lien Amount Payoff 1st Mortgage $2,133,370.52 $940,578.76 Total $2,133,370.52 $940,578376 Total Discount $1,192,791.76 Realtor $53,000 Commission Commission 0 without us
You provide The Heathrow Group introduction to seller/client We meet with your seller and take care of all paperwork We build the case for negotiation We submit the offer(s) to the lender(s) We negotiate a settlement with the lender(s) We pay off lender(s) and close with the buyer Title Company pays you Your Commission
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 seller) Highlight the fact that you have aligned yourself with a company that specializes in short sales The initial conversation can take place on the phone or in person
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 separate legal counsel or we can provide them with ours. We will collect all of the short sale paperwork from the sellers
Comparables Inspection Report Inspection Estimate Sellers Hardship Sexual Predators Local Articles Days on the market
Mortgages, HELOC, HOA, IRS, contractors Request Full Satisfaction of Liens Provide appropriate verbiage for the MLS
You get your Full Commission and our team does all the mitigation work You avoid wasting your time negotiating with banks (This is not the best use of your time) You get an immediate offer on the property allowing us to start the short sale process NOW You can avoid all of the Short Sale Process Pitfalls because we know all of them.
You can Earn your Full Commissions + Potential of up to 7% in Commissions: ◦ *3% for Initial Listing ◦ *1% for 2nd listing ◦ *3% as Buyers Agent
We get paid when the property is sold. Either to our investment group or to a market buyer. You get paid when our investment group buys the property & when they resell the house.
If you have questions that youwould like to discuss or aproperty that you would like tosubmit please contact me at:Fred W. Price7575 Dr. Phillips BL Ste 270Orlando, FL 32819Phone firstname.lastname@example.org