HREU Coaching Student Featured On CBS Evening News!
Submitted by Tim Harris on March 25, 2009 – 2:06 pm10 Comments | Popularity: 1% [?]
Hey Frank….You Rock!
Realtors, its time for you to take the first step and finally learn how-to become a Short Sale Specialist.
Popularity: 1% [?]
Similar Posts:
- HREU Student Mark Shandrow Featured In European News Report (Video) HREU Coaching Student hosted a German TV...
- HREU Student, John Brady Featured In The New York Times! Congrats to Harris Real Estate University Student...
- More Bad News (Or Is This Really Good News…HREU Realtor Coaching Students Read Now) BREAKING NEWS..REALTOR COACHING CLIENTS MUST READ… This...
I love the report, I only hope…it’s not with Countrywide. I have gone through 5 Mitigators, and 3 buyers, and we are in our 8th month. The home has been appraised…3 times. A Contract at $169K, is now at…$145k, and we wait for the 6th Mitigator. That being said, if you can stick it out with Countrywide, you can Short Sale any home, if you have that Buyer who is patient. But great News!, I love Real Estate, Glen Burrough, Visalia, California. Good Job Tim and Julie!
Glen…elevate the file!
Are you a Agent Shortsale Secrets student?
If you are…get the latest info on the CW escalation policy.
Tim
and then when the bank comes back and says they will hold you responsible for the difference what do you do? Do you still tell your clients to short sell? No mention of talking to an attorney or a CPA about consequences?
Hi,
Not sure if you are an agent or a homeowner….but, you can literally negotiate the terms of the short sale with the bank.
Of course any HREU student advises their clients to speak with their attorney and/ or. Thats the first thing we teach the Agent Short Sale Secrets students..
As far as the eventual financial implications post short sale…that really depends on too many factors to address here. Chances are there are NO tax implications and the
lender CAN’T hold you responsible for their loss. Primary residence? Recourse vs non recourse etc. Like I said before, you need to speak with your CPA.
If you are a homeowner and need a referral for a Realtor who is a short sale specialist..let me know.
Tim
Suzanne,
I’ve created an addendum to the contract for the buyer(s) and the seller(s) when doing a short sale. You may want to have your lawyer/broker check it out before using it in your state. It’s something that puts the decision on the seller “and not you” when it comes to the approval, deficiency, and paying a personal note. Lenders hate my addendum because they know if they come back with a ridiculous decision, the seller can kill the deal.
You can click my name to download the addendum (it’s a Microsoft Word doc), and edit it to your needs. You can also click the link below. Best of Luck!….always glad to share!
Short Sale Addendum
Tried last night and tonight, but can’t get it to play!
Randy,
Scroll down…the video player box is under the CBS logo…
Tim
Hey Randy,
I just tested it…..you may have to click and re-click the player button in the lower left section of the video player…this isn’t on my server so I can’t control how it works. CBS makes you watch the commercials first…
Hope this helps!
Tim
You know I looked at this opportunity of HREU for several months thinking I don’t have the extra cash to ’spend’ monthly as opposed to ‘invest’ in me and my chosen field. Having enrolled after extensive experience in preparation of Short Sale and Foreclosure BPOs in the past 5 yrs…I have learned so much in the past month and I thought I understood the market!!! I wasted months.
Pricing corrrectly is vital; knowing how to prepare the initial Offer to Purchase to protect your client / Buyer, additional tips how to negotiate for your client / Seller…aaahhh, a negotiator’s dream. Ask for anything, all they can do is say No. Just make sure you put it in writing on initial contact.
I’m am excited again about a job I love anyway. Thank You all.
We all know that short-sales are here to stay. We have added a “new” category to our business and “new” service to Realtors (To ensure that we all get paid!).