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Closing a short sale is not an unproblematic undertaking. Mindset is the most important thing when trying to close a short sale. We see all of the designations that other agents have. Yet, some of these realtors have never completed a short sale. They call themselves an expert in short sales and other real estate specialties but they have no useful experience. Receiving a designation is a excellent start, but actually completing short sales is so important.
Short sales are the largest grey area of the real estate business. The lenders want you to think that it is all black and white. When you listen to something from the lender, you could phone back tomorrow and you might get an answer that is totally contradictory. Try calling the lender ten times and see how many times you get the identical reply.
As a matter of fact, sometimes we don’t even get the bank to answer the telephone. It appears that the power goes out at lenders on a regular basis. There have been so many times that we have come to a spot that has never happened before. But we merely say that it doesn’t matter. Our frame of mind is to close the short sale regardless of the situations. The bank has guidelines and policy, but if you can show the lender that they are saving money with a short sale over foreclosure you can complete a short sale.
It is astounding that the bank does not notify their employees that this process is basically about savings over foreclosure. do not believe all that you see and hear. don’t allow your property to go to foreclosure. Do something about this state of affairs. Even if you are not in the Minnesota region, contact us. We can help you find the right real estate agent. We can also help you verify if your property is a good candidate for a short sale.