1. Tips for Getting
Your Short Sale Accepted
Jovan Hackley Sarah Stelmok
Content Manager & Agent Trainer Short Sales Specialist
2. Who are you?
POLL:
How many short sales
have you completed successfully?
3. Agenda
Stats | Short Sales Today
Tip 1 | Know the Major Players
Tip 2 | Prepare the Clients
Tip 3 | Perfect the Package
Q & A | Participant Questions
4. Short Sales Today
• 31%of Residential Sales 24% YoY
• Average sales price of bank 5% YoY
owned is 32% below non-bank
owned
• Pre-foreclosure sales in Q2 = 19% QoQ
102,407
10% YoY
-“Short Sales Soar in Second Quarter,” Realty Trac,
5. Tip 1: Know the Major Players
Tips for Getting Your Short Sale Accepted
6. Short Sales: The Major Players
At the Bank
• Negotiator
• Negotiator
Supervisors
• Asset Managers
Seller’s Roster
• All Sellers
• Attorney
• Listing Agent
7. Short Sales: The Major Players
Other Key Players:
• Accountant
• Appraiser
• Buyer Lender
Key Issues:
• Credit Impact
• Home Price
• Timing
8. Tip 2: Prepare the Buyers
Tips for Getting Your Short Sale Accepted
9. Short Sales Tip: Preparing the Clients
Seller Tips
• Check your
emotions
• Price is about market
value
• Put your best foot
forward
10. Short Sales Tip: Preparing the Clients
Buyer Tips
• Banks are about
business
• Consider the Seller
• Be Patient
Average Time =
4 – 6 months
11. Tip 3: Perfect the Package
Tips for Getting Your Short Sale Accepted
12. Short Sales Tip: Perfecting the Package
Anatomy of a Short Sales Package
Seller Info
• Last two bank statements (12-20 pages)
• 2 pay most recent stubs
• 2 tax most recent returns
• Hardship Letter & Documentation
13. Short Sales Tip: Perfecting the Package
Anatomy of a Short Sales Package
Transaction Items
• Listing Agreement
• Ratified Contract
• Price Documentation
• Bonus: Profit/Loss Statements
15. Find Out More Training@Trulia.com
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Notas do Editor
So here’s today’s agenda: We’ll be coveringAgenda1. A basic overview of Trulia and why it’s valuable2. Ways you can use Trulia to Show You’re an Expert3. How you can use Trulia to Market property4. Trulia as a Lead Generation ToolAnd we’ll end with a few links to get you more info on some of the tools we’ll talk about and a short Q&A session for those of you looking for more info.