Short sale advice & recommendations

“You can’t close a short sale unless you submit a contract to negotiate with the bank”,

Here are a few tidbits to help get the property under contract:

* Tell the seller that it is “a house” and not “their house” anymore……this helps detach the emotional commitment that a seller may have with the property.

* Reduce price every 3-4 days until you get a contract.

* Educate the seller that they will NOT benefit financially from the short sale.  Price doesn’t matter.  This is a short sale not a traditional sale.  Therefore, reduce price until you get a contract.

Remember, submitting a market offer to the bank kick starts the process of negotiating the short sale.  You can’t start negotiating until you have that contract.