Can I Have the "Flight Plan" to do a Short Sale?

Wendy Rulnick — Thu, 20 Jan 2011 21:59:55 +0000

The other day an agent asked if she could have my “flight plan” to do a short sale. Per Wikipedia, a flight plan is a pilot’s outline of how he will get to his destination, including departure and arrival points, estimated time, alternate airports in case of bad weather, type of flight, etc. This agent was sure I had such a document for short sales. She had never had a short sale listing before, and was looking for a checklist.

Well, guess what? There is no “flight plan” that fits every short sale. Sure, I can tell you the basic steps, but the number of variables would throw that plan off in a heartbeat. You might be trying for Wyoming, but end up in Oregon! Here are some examples:

1. The Seller – Every seller’s situation is different. Bankruptcy? Multiple liens? No hardship? Your approach will change for each circumstance.

2. The Contract – What is the best way to write one to get approval?

3. The Package – Many short sale lenders have their own forms and different requirements. Do you know what they are?

4. The HUD – Each lender or mortgage type has unique stipulations as to what will be approved on the settlement statement.

5. The Lenders – What will the senior lien pay the junior lien, and what will the junior lien accept?

6. Other Liens – How do you handle tax liens, judgments and association liens?

7. Cash Contributions and Promissory Notes – When do they come into play?

8. The Deficiency Judgment– Do you know what it is and if your seller can avoid it?

These are just a few examples of the variables involved in getting a short sale approved. There are hundreds more. So what do you do, if you’ve never done a short sale before? One place to start is www.ShortSaleSuperstars.com – you’ll find over 5000 agents sharing information about daily short sale situations, problem solving, tips and tricks.

And for some SERIOUS SHORT SALE TRAINING – watch for the upcoming short sale webinar from me and Broker Bryant. We’ll be covering not only basics, but in-depth negotiating skills, deal-saving strategies and special short sale situations. So be your own pilot to short sale success, and learn, know and grow!

Wendy Rulnick and Bryant Tutas
www.ShortSaleSuperStars.com

The post Can I Have the "Flight Plan" to do a Short Sale? first appeared on Rulnick Realty.

Short Sale Bank Negotiator Interview Coming Up- Better Than a Class!

Wendy Rulnick — Mon, 24 Aug 2009 19:30:38 +0000

Saturday August 29th…. Bryant Tutas and Wendy Rulnick will be interviewing a Short Sale Negotiator from one of the major lenders. He’s been doing this for 18 years and is a wealth of information. He has agreed to spend 90 minutes answering our questions.
Bryant and I have been negotiating with him for a couple of weeks now and have finally came to terms on his fee and the terms for the interview. He has to remain anonymous as it could jeopardize his job if they knew he was giving this interview.It’s feels kind of like “The Insider”!
We can assure you that the Interview is going to be awesome. Wendy and I spoke with him for about an hour recently and were blown away at the stuff we learned in such a short period of time.This knowledge WILL make you money!
The time is Saturday August 29 at 11:00am Eastern (10:00 Central). The place is your computer as the interview is being done as a Webinar. The cost is……. 27
The Interview is being recorded and will be available on MP3 just in case you can’t make it “live”. This may be the best $27 you have spent in a long time.

Check www.ShortSaleSuperStars.com if you want to join us….

Wendy Rulnick, Broker, Rulnick Realty, Inc.

www.shortsalesuperstars.com

The post Short Sale Bank Negotiator Interview Coming Up- Better Than a Class! first appeared on Rulnick Realty.

short sale webinars - Rulnick Realty

Can I Have the "Flight Plan" to do a Short Sale?

Short Sale Bank Negotiator Interview Coming Up- Better Than a Class!