BiggerPockets

First short sale deal

Friday, May 28

I was finally able to meet the homeowner to go over doing a short sale.  It went very well and I had my realtor along with me.  He help explain to the seller all their options.   The seller was weighing the option of selling the house on their own.  My realtor explain all the fees that would be associates and the finally price was impossible for the sale of the property.  So I was able to get all paper work signed and will meet them next week to get the rest of the financial documents.  So ready to put more deals into the pipeline.

Comments

1. 

   Tom Bukacek Reply
   almost 2 years ago

   Congratulations! I find when offering the short sale opportunity to the homeowner, it's better to offer a decision than a choice. Short sale isn't attractive as a choice. But if you go over their other options and eliminate everything except the short sale, they are much more willing to sign on. I have an article that I use that's posted on this site called the 7 Ways to Avoid Foreclosure http://www.biggerpockets.com/articles/1182. You are welcome to use it for your presentations. Good luck!

2. 

   Adrian Johnson Reply
   almost 2 years ago

   Thanks Tom I'll check it out.

3. 

   Ted Akers Reply
   almost 2 years ago

   Congratulations Adrian. Also, very well laid out list of options by Tom. I agree it is easier to evaluate and eliminate options in a decision making process than to make a hard choice.