head_left_image

A Short Sale Pet Peeve

Short Sale Pet Peeve
For those of you who read my optimistic take on short sales I wanted you to know that I do have issues with short sales.  I'm not insane or wearing rose colored glasses when it comes to some of the problems that occur with a short sale.

There is one thing that bugs me when I'm sending an offer to the lender.  Having to submit a HUD-1 with each offer, especially when the offers all within a few dollars of each other.  It makes sense to want an initial HUD-1 that shows the lender, based on the established value, what the "estimated net" will be.  However repeating the process over and over again isn't productive and depending on how long the review process takes one or more of the initial offers may have moved on.

My relationships with the settlement companies are important to me.  Asking them over and over again for a HUD-1 is starting to put a strain on the goodwill.  I've decided from now on to ask the  agents submitting an offer on a short sale listing to provide a HUD-1 with their offer.   It will allow me to get their offers to the bank faster and not push my favorite settlement companies over the edge. 

So there you have it my issue with short sales!

P.S. I'm still waiting for the call from a lender to help them with their business process re-engineering :-)

                                   Real People*Real Lives*Real Estate

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and Integrity Real Estate Group a call at 703-346-2213.

Military Relocation Specialist serving military families relocating to and from the Pentagon, Fort Belvoir, Quantico MCB and all of the Military District of Washington installations. 

Military Relocation Professional


Check out www.varealestatetalk.com and www.cjrealtygroup.com for more information.

Integrity Real Estate Group
 
Real People*Real Life*Real Estate

Licensed in the Commonwealth of Virginia



 

 

Comment balloon 15 commentsCindy Jones • June 04 2008 03:40PM
A Short Sale Pet Peeve
share
For those of you who read my optimistic take on short sales I wanted you to know that I do have issues with short sales. I'm not insane or wearing rose colored glasses when it comes to some of the problems that occur with a short sale. There is… more