Without a San Jose Short Sales Agent, It’sNot Easy!
“Why do you have to make this so hard?”
Short Sales are NOT easy.
As a San Jose Real Estate Agent – I do not make the rules for engaging with lenders to approve San Jose Short Sales.
My job as a San Jose Real Estate agent working with San Jose Short Sales includes, but most certainly not limited to, the following:
1. To know what the lenders want/need in order to process a short sale file.
2. To understand the process and ensure that I follow it.
3. To educate and inform homeowners/borrowers of the process and ensure their commitment to cooperate with the San Jose Short Sales process.
4. We know upfront what all lenders want/require. Some lenders may ask for additional documents.
5. We collect “seller financial documents” (two years tax returns with W-2’s; bank statements, pay stubs, etc.) upfront so that when we have an offer we are ready to submit the short sale package. Time is of the essence.
6. Depending on how much time passed between when the seller financial documents were collected, placing the property on the MLS, and ultimately accepting an offer, we may need to update some of the financial documents. Typically they are bank statements, pay stubs, mortgage statement(s). As we approach the 2010 tax return deadline, it may also mean 2010 1040 tax returns with schedules and W-2’s.
7. We continue to collect update financial documents on a monthly basis during the short sale process. Why? So that when the negotiator asks us for them, we have them ready to go and we do not waste days collecting them from the seller(s). The quicker we respond to a negotiators request for updated financial documents (or any other requests), the more likely we are to get to an approval – quicker.
San Jose Short Sales are NOT easy. Lenders are not rubber stamping short sale approvals like they were caught doing with foreclosures.
Lenders are not issuing “save home from foreclosure” made easy cards.
The truth about San Jose Short Sales is that the process is long; extremely time consuming; and they require a lot of work for the agent/short sale negotiator. Short sales require patience on behalf of all parties (Buyers/Sellers/Agents).
Sellers have work to do as well. Short Sales are not easy.
Please understand that I do not make the process hard. My goal is to make the San Jose Short Sales process as easy as possible for the seller. We must submit a complete short sale package to the lender in order to get the long short sale process started.
Why do you have to make this so hard? San Jose Short Sales – Easy? – by Kathleen Daniels, San Jose Short Sales agent
Tags: San Jose Short Sales, save home from foreclosure, Short Sales
Maglie says
I know many people who had to short sale their home. Every one I know said the process was a nightmare. Banks do not make it easy that is for sure.
Katherine says
I love all the points you made. Clearly short sales are not easy. It seems like it’s a lot of work and they take a lot of time.
Celine says
Saved as a favorite, I love your website!
Nick Davis says
I went through a short sale a few years ago. I wish my agent was as knowledgeable as you seem to be.
Enrique says
We still have many short sales in my area. It is a shame that the lenders take so long to process a short sale and that the process is so difficult.
Joan says
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Great blog and excellentt design.
Verona says
You’ve made some good points here.
Stephanie says
I hope this nation never sees another mortgage crisis. Short sales hurt everyone. The banks got a way with murder. Such a tragic thing that so many people lost their homes.
Andrea says
People don’t know how difficult and challenging short sales are for everyone. I think the agents who manage them should be paid more money for doing them but the lenders often pay them less than if they sold the home as a regular equity sale. I know this because my sister is a real estate agent and she shares many stories about the process and how much work is involved in getting a short sale approved and closed. I commend you for your hard work.
Tammy Nguyen says
We appreciate all your hard work and helping us complete our short sale.
Sandra Trolly says
I am truly happy to read this weblog posts which contains lots of useful information, thanks for providing these kinds of data.
Kathleen Daniels says
Thank you for stopping by. We are happy to be of service.