How Realtors Handle The Negotiation Process

which_pathHere are some highlights that help negotiate a short sale process. Every mortgage lender and negotiator has a different approach when it comes to handling the short sale process:

  • We are patient, yet persistent and helpful with the mortgage lender on the short sale
  • We reinforce to the mortgage lender how a short sale helps save many costs associated with the foreclosure process: attorney’s fees, eviction procedure, delays from borrower’s bankruptcy, damages to property, etc
  • We work to convince the mortgage lender how it’s in their best interest to approve the short sale by accepting less money now
  • If the mortgage lender responds with a higher short sale counter offer, we ask open-ended questions regarding their opinion of the validity of the short sale BPO to draw out more information
  • We ask if they agree with the agent’s assessment and how it was obtained
  • We expect a mortgage lender will accept between $10,000-$20,000 less for the short sale than stated

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