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. Â Price doesn’t matter. Â This is a short sale not a traditional sale. Â 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. Â You can’t start negotiating until you have that contract.