First of all, a short sale is anything BUT short in putting together. It’s a long, drawn out process that leaves many sellers, buyers and agents frustrated. So the question begs, what does it take to put together a successful short sale?
My recommendation, bring in someone to facilitate the paperwork.
I work with a local title company that has a specialized team that are only dedicated to assembling the necessary paperwork and spending the enormous time it takes in communication with the lender in a short sale transaction. These people are experienced in handling these types of transactions. They know all the documents the banks want to see. Real Estate agents are very adept at marketing, but having the time to chase after the bank officers and finding out that they required additional paperwork can leave the agents burned out on doing these transactions. Not only that, but the bank seems to prefer to work with a "neutral party" instead of the Realtor selling the home. There is less emotion involved and because they communicate on other short sales, they have had the time to develop relationships.
Short sale facilitators will add costs to the transaction, but they will also greatly increase your chances of a successful sale. After all, that’s what everyone is after, isn’t it?
