Short Sale Awareness For Homeowners And Investors

Short Sale Awareness For Homeowners And Investors

Short Sale Awareness For Homeowners And Investors

Recent Short Sale Trends – Lowball Offers

With forecloses on the decline and short sales still holding steady we have noticed two recent trends.

Trend number one – Some investors continue to call short sale listing agents to make low ball offers. Along with these offers, the investors state that they have all cash offers and can close in a week.

Unfortunately, many investors do not realize how properly structuring a short sale works.

Just because you have “all cash” and “a two week close” does not mean that the homeowner or the bank will or should accept the offer. Even if the owner (with the advice of the Listing Agent) accept a low offer, it is likely that they will simply waste everyone’s time attempting to jam the deal through.

Banks only care about how much they net on a property. A good listing agent will know in advance what offer will fly and what will not. So, when an investor brings in a low ball offer, a smart listing agent might wish to educate that investor and the homeowner to stop wasting everyone’s time.

Trend number two – Shady marketing to homeowners

We all know that there line exists between marketing and misleading. A number of agents and homeowners have received marketing from this one company that claims to help homeowners.

One agent claimed that her inbox continues to be inundated by this “initiative”. Funny thing is that this company goes by several different names such as:

Reno Short Sale Specialist
National Foreclosure Mitigation Counselors Association
1.866.270.3094
NFMCA.COM

and

Short Sale Initiative
1-866-270-3094
http://www.HelpHomeowners.org

Notice the same phone number?

We attempted to access their website, and our anti-virus program popped up a warning for both pages, so we called them a few times but according to their message they are too busy helping homeowners with their short sale initiative to answer the phones. The fact that they call themselves National Foreclosure Mitigation Counselors Association which we cannot find any information about draws some suspicion. The name also bears a striking resemblance to The National Foreclosure Mitigation Counseling (NFMC) Program through Neighborworks.

All we can say is do your due diligence.

Short Sale Awareness For Homeowners And Investors

Short Sale Awareness For Homeowners And Investors

Short Sale Awareness For Homeowners And Investors

Short Sale Awareness For Homeowners And Investors

Short Sale Awareness For Homeowners And Investors

Short Sale Awareness For Homeowners And Investors

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