Increase the probability that a Lender Says "YES" to your short sale offer

[Brandon Gadish]

Here are some things I do when putting together a short sale that I believe improve my chances of the lender saying "Yes"

1. I write the hardship letter with the seller. I want it to be as personal as possible in a manner that makes the lender have sympothy for the situation.

2. I send the short sale packet to the lender in a bright folder. I dont want mine to blend in with the rest of the manilla folders

3. I build raport quickly with the agent in the loss mitigation department as quickly as possible,letting them know I am a person and not just an investing machine.

These are some, but I'm interested in knowing other's strategies.

Brandon Gadish
Landlord Technology LLC

[Clifton Jones]

Originally posted by Brandon Gadish:

Here are some things I do when putting together a short sale that I believe improve my chances of the lender saying "Yes"

1. I write the hardship letter with the seller. I want it to be as personal as possible in a manner that makes the lender have sympothy for the situation.

Be careful about this. You want to help the homeowner and that is a good thing. But, make sure that you just use vague suggestions, such as "it needs to be more personal". You would hate for something to go wrong and the homeowner try and come after you because you

2. I send the short sale packet to the lender in a bright folder. I dont want mine to blend in with the rest of the manilla folders

The vast majority of lenders will scan the documents into their computer system, then work exclusively off of the computer. The negotiator will nearly never be the one to see the original documentation you send.

3. I build raport quickly with the agent in the loss mitigation department as quickly as possible,letting them know I am a person and not just an investing machine.

This I agree with completely. The better the rapport you have with the negotiator, the more likely you are to get the deal done to your satisfaction. This will also help you in future negotiations, as the negotiators do talk among themselves about their accounts and the people they deal with. Once you have developed that rapport, you can then go back to that negotiator with any new deals and see if they can handle the account. They might be willing, as they have seen that you will close the deals you bring.

These are some, but I'm interested in knowing other's strategies.

Brandon Gadish
Landlord Technology LLC

Brandon, see the comments in bold above.