Join me on the next Foreclosure Fridays Live (June 29th) to discuss my trip, Foreclosure Book, etc! Start at 5PM PST (10AM Saturday in Australia).

Will I Stop The Last Foreclosure via Short Sale?

We got approval from the bank to allow short sale of the Modesto house at about $300,000. I have the approval letter but my short sale real estate agent didn’t want me posting it quite yet.

Now that the 1st is willing to do the short sale, the agent is negotiating with the second to make sure they are willing to play along. I haven’t heard back yet. With this agent, no news is good news. I’m assuming things are progressing along.

Even if the second is will to play ball on the short sale, we’ll still have to hope the buyer actually closes. But hey, perhaps I will have one successful short sale under my belt after all. I can’t take all the credit though. Success is all about having great team players, like my awesome short sale agent in Modesto. I already referred a couple of people facing foreclosure to him.

That’s the kind of network I want to build. A team of short sale specializing real estate agents across the country who I can refer people too and help them avoid foreclosure on their record. Not many agents are willing to do short sales and the ones that do, few are good at it. I’ve been blessed with some good ones.

But even the good short sale agents can’t always stop foreclosure. The bank can say NO to a short sale for a number of different reasons. So I feel like even if we get 1 out of 4 short sales accepted, we’re doing pretty good.

Leave a Reply

Your email address will not be published. Required fields are marked *