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Short Sale Negotiators: How To Choose The Right Short Sale Negotiator.
Choosing The Right Short Sale Negotiator:
What Does A Short Sale Negotiator Do?
A Short Sale Negotiator represents the seller, not the bank. Their job is to get the Short Sale approved by the bank.
Short Sales have become more complex in 2013 and they are harder to get approved by the lender. The banks have learned from their previous mistakes with Short Sales and they seem to have the winning edge over most investors. Getting a Short Sale approved without an experienced negotiator is fairly difficult.
Successful negotiators get 90% or more of the Short Sales they represent approved. They know what the banks are looking for in today’s market, more specifically what each bank’s requirements are and peculiarities. This experience alone can save thousands, by negotiating the sale price down to the homeowner’s and investor’s best interest, therefore more than offsetting any negotiation fees.
Furthermore, an experienced Short Sale Negotiator will not only have a better chance to convince the bank that the home is in fact worth less than what the lender thinks, but additionally he/she will negotiate better terms for the seller, such as release from all liens and in many cases obtain cash back from the lender at closing for the homeowner.
Who Does A Short Sale Negotiator Work For?
Short Sale Negotiators represent the seller and negotiate on their behalf with the lender / bank. Often short sale negotiators are hired by investors, who need to negotiate the payoff down to a level that they intend to purchase the property for.
Who Pays A Short Sale Negotiator?
Short Sale Negotiators are usually paid at closing by the buyer of the property, the bank / lender, or the real estate agents involved. Ethical Short Sale Negotiators don’t charge the home owner to represent them, nor do they charge thousands of dollars in up front fees. If you are asked to pay a negotiator up front to represent you, walk away.
How Do I Find The Right Short Sale Negotiator?
Do you need an experienced investor friendly Short Sale Negotiator with experience in your area? Please email laura@lauraalamery.com for a referral to the negotiator that is right for you!
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