Do I need to list a short sale lead to the MLS with a Realtor?
Hello!
Hope this post finds you well :).
My partners and I recently started mailing to preforeclosure list on a bi-weekly basis. And we have been getting some calls. So far most have been from individuals who owe more then what their house is worth, so they would be a candidate for a short sale. I took a class on pre-foreclosures and foreclosures, so I have most of the paperwork you would need and the process is somewhat laid out on how to negotiate with the bank. I did have one lead that I was going to negotiate a short sale with the bank but I could tell he wasn't being honest and upfront about somethings but I still was going to see how I could negotiate a short sale (with no experience lol). From the class that I took, they told me all I would need either the case number of the loan officer information who was working on the case. He had neither. So I wasn't sure how to proceed. He had a number for the bank but I had no way to reach someone what would know about his case per say.
I started doing some more research on short sales because I do want to be able to navigate some of these potential leads to more of a systemized tailored strategy butttttt during my research I kept coming across articles that stated that the lender would require the property that is being negotiated for a short sale to be listed on the MLS. Which has me scratching my head because I'm wondering how other investors are closing on shot sale deals if the property is on the MLS. In my head, it would be hard to get it at a good discount. possible but not that easy.
I would like to hear from those who have had some experience with negotiating with the bank on a short sale? and is it really necessary to have it listed on the MLS? especially if it is coming from our own marketing?
TIA!