If you’ve ever spent hours on the phone with a lender’s loss mitigation department, whittling and wheedling until you reach an agreed-upon price… only to have the sale fall through because the 2nd mortgage holder wouldn’t get enough to cover their lien, you know exactly how valuable a professional short sale negotiator can be. And if you’re facing that prospect for the first time because your newest client just mentioned that they’re behind in their payments and underwater on their mortgage, rest assured that you can save yourself the time and stress and still keep your full commission.
A short sale can be an extremely challenging process, with IRS liens, 2nd mortgages, private mortgage insurance (PMI), and many other obstacles standing in the way of lenders seeking resolution and homeowners seeking freedom from debt obligations. Bayou Loss Mitigation Services does nothing but short sale negotiations, and since January 2008 we have completed over 300 successful short sales. As a real estate agent, working with Bayou Loss Mitigation Services frees you up from mountains of paperwork and protracted lender negotiations, allowing you to focus on your core business.
One of the more difficult and time-consuming elements of a successful short sale is the search for a qualified buyer. A short sale proposal must have a buyer attached to it in order for the lender to seriously consider it, and if that buyer changes his or her mind before the sale is completed, you have to start the process all over again. Bayou Loss Mitigation Services reduces the difficulty of this task by working with a group of real estate investors. We locate a cash investor to serve as the transactional buyer, offering an all-cash, as-is offer which lenders find very attractive. You can look for a buyer while the short sale is being processed, drastically reducing the amount of time needed to complete the process.
For more information on this process, check out our How It Works page or click here for a FREE report on the benefits of the short sale process.