Short Sale Tips For Listing Agents

Below are some tips that can improve the odds of your short sale listing being "Approved" by the lender:

1. Sell the property "AS-IS" - lenders and servicing companies don't like to see offers subject to repairs and condition.

2. No seller concessions - lenders and servicing companies are already losing money on their asset, they don't want to lose an additional 3% or buy a home warranty just to sell an asset. Concessions can kill your deal!

3. Sell to an owner occupant - lenders frown on letters of intent, option contracts, and/or assign offers.

4. 1% - 3% in earnest money - the more earnest money the better.

5. Pre-Qualification letter and/or Proof of Funds - the buyer needs to demonstrate the ability to buy.

6. Flexible deadlines - buyers need to be flexible and patient during the short sale process.

7. Educate Buyer Agents and Investors - they need to be "realistic", if a property is already priced at 75% or 80% of market value don't expect a lender to sell the property for much less than that.

8. Listing Agent BPO and summary reports- don't take pictures of the beautiful rooms in the home and don't use the nicest home on the street as your sold comparable. You want to point out the issues that effect the homes value and re-sale(ie. leaking roof, mold, meth, etc.). In addition, use comparables that are other sold short sales and bank owned properties.

9. Get out of the way - don't get in the way of a transaction, nobody has any idea what a lender is willing to do to get their asset sold.

10. Be patient, be patient, be patient.

11. SUBMIT YOUR SHORT SALE TO ZOOM! LOSS MITIGATION - contact us at 1-800-480-1917 or e-mail ZOOMLossMitigation@gmail.com for a complete list of all items needed for successful short sale transaction on your listing.

www.ZOOMLossMitigation.com