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Hey Realtors !!!
I BUY SHORTY SALES NOW
1) What we do:
We work with licensed professionals to provide buyers and transactional funding for your clients who have their properties listed that are facing foreclosure. With full disclosure written and verbal we provide selling homeowners various options while selling their house and work exclusively with OVERFINANCED CLIENTS WHO HAVE NO ALTERNATIVE TO FORECLOSURE, IN IMMENENT DEFAULT, AND WHO WOULD OTHERWISE LOSE THEIR HOUSE AT AUCTION WITHOUT A SHORT SALE. Through our much expanded network we have successfully negotiated over 1 billion in successful short sale transactions. In the process we have saved over 1 million families from losing their homes to foreclosure.
2) Our Mission
To provide valid selling options to homeowners who are facing foreclosure who have no means to sell their property, while working in full disclosure and lender compliance with our inner circle of agents who have located these prospects.
3) Our Participation
We manage 100% of the short sale process including but not limited to the short sale package, lender negotiations, value justification and FULL COMPLETE DISCLOSURE TO THE SELLER. Our intent to purchase and resell will be fully disclosed, acknowledged and signed off by the seller. Further more we must comply with the lenders short sale requirements including no cash or overage to the seller at closing.
- We work to typically minimize the deficiency and unsecured debtor responsibility when working with our debtors.
There are only a few easy steps for you to be on your way to collecting full commissions on properties your clients would have lost to foreclosure!
CLICK HERE TO DOWNLOAD THE CLIENT HELP FORM
Fax this Form to:
678-623-8252
Step #1 – Client Acquisition – Read the information on this site including the “Property
Qualifications”, “Seller Qualifications” and “Agent Qualifications”.
Submit the client you would like our team to personally contact on the client
submission form. This call to speak with and inform the client will be made within one week of the submission. Please submit the local partner’s name who contacted you.
Step #2 – Seller Disclosure – Meet with your original client who was going to lose their
house to foreclosure and let them know there is a buyer who will want to contract
directly with them. Go ahead and submit your clients information into the client help submission form below so that my staff can contact the homeowner and explain everything on our Seller Calls scheduled for the 2nd Tuesday & 4th Monday of each Month.
Step #3 – Meet with you sponsor (local partner) to have the listing agreement assigned
from seller to our local representative. (This makes us responsible for working to
see you are paid full commission.)
Step #4 – Establish the listing history and show the property – The property must
be listed at full loan balance and listing price reduced every 2 weeks by
3% of previous price.
Step #5 – Communicate showings to your local sponsor – This is the most critical part of
our relationship and will effect the outcome of you commission. We must know
of all showings, prospective buyers, comments and any verbal or written offers
within 24 hours. We will accept, deny and counter all offers.
Step #6 – Contract the new buyer and attend closing - Collect your check!
4) How we work with our licenses:
We work in conjunction with a local partner in your area who helps us acquire a small team of flexible, open-minded licensees who can provide referrals of homeowner’s who are over-financed, facing foreclosure and would otherwise lose their homes to foreclosure. We act as the direct buyer to the homeowner’s property through an option agreement whereby the homeowner assigns the listing to our company and amends the listing so that we can resell. You as licensee would be searching for a buyer during the time we work directly with the debtor’s lender to secure the discount (short sale) that will allow us to purchase the property. Our intention is to fund and payoff the short sale transaction in full and then resell to the buyer you will acquire on the Multiple Listing Service.
5) Property Qualifications:
We are only able to work with clients who are over financed and a foreclosure candidate. This means a homeowner who has stopped making payments and has no plans to ever begin making payments. The client must be a minimum of 30 days in arrears on their mortgage. They must be willing to acknowledge in writing that they are going to allow their property to go to foreclosure and have no intentions or resources to prevent this from occurring.
- We prefer properties that are $300,000 ABOVE median price range or $500,000 loan balances. Feel free to submit other properties that are below this price range as long as they are in average to above average condition.
Please note: Please do not submit junker, marginal properties needing repairs and no bank owned REO’s
- We prefer properties with MULTIPLE MORTGAGES, and especially LARGE second mortgages.
- We cannot consider properties in active bankruptcy.
- We cannot consider incomplete, new construction homes without final certificate of occupancy.
- Please no condos or townhomes.
6) Seller Qualifications:
Similarly to licensees who are looking for a proven system, we are looking for easy to work with sellers. This means a seller who understands they have no other alternatives, or have already exhausted a mortgage modification or work out plan. Because of the sheer volume of these properties and clients needing our negotiation and funding services we are looking for clients willing to work with us. The extensive and time consuming effort requires us to find sellers who meet the following qualifications:
- Eager and willing to provide their financials and information needed by the lender to work the short sale.
- Sellers willing to release our selling agents (you) of any fiduciary responsibility and recognize they are working in a capacity with the assignee that has been designated first to resell the property.
Please note:
We wish above all to speak with the debtor first, to make sure they are not requesting cash and are willing to follow through with the lenders request and sign all disclosures. Once this conversation is complete and we can determine the outcome is FULL COMPLIANCE we will schedule a time to meet and go through the documentation.
7) Agent Qualifications:
It’s our goal to work with pro-active licensees who want a LONG TERM RELATIONSHIP ONLY and are willing to work in the spirit of compliance with regards to FULL DISCLOSURE when referring A SELLER CLIENT to our firm. Because we are working directly with the seller we will be in constant communication regarding the lenders requirements for the short sale. As our selling agent it is we who are responsible and will fight to ensure a full 6% commission is made available between listing and buyers agent. Under this arrangement, we will ask for collaboration in the following areas.
- No intermediary between all parties, the lender and seller we must have direct contact with these parties at all time. Once the short sale begins there cannot be any communication between you, our selling agent and the debtor’s lender. This has, and will cause irreparable challenges with the short sale.
- Debtor confidentiality: there are two separate transactions, the sellers short sale will be paid off with cash. Upon resell agent agrees not to disclose to short sale lender that the property is being sold at a later date. We are the buyer and do not wish to have our purchase price disclosed. The short sale is not a transaction you will be involved with.
CLICK HERE TO DOWNLOAD THE CLIENT HELP FORM
Fax this Form to:
678-623-8252
FAQ’s
Q. When do you call my client?
A. All clients are called on the second Tuesday and fourth Monday from 6:00-8:00 EST
*If call volume increases we will add a call between those call times.
Q. How do I know I am not going to get cut out of the listing?
A. Because it’s your client, we want ongoing and multiple listings from you. We have to have an agent in the middle because everything we re-sell is on the MLS.
Q. Would you ever use another agent to sell the property?
A. Only if you no longer want to participate. It could be likely for another buyer’s agent to bring the buyer and that arrangement is between you. (We are not licensed.)
Q. How will I be kept in the communication loop?
A. If this is a transaction where we are funding and acting as buyer, our mitigation team wills internet you on a weekly basis of what is occurring.
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