My First Short Sale or This is Really Hard Work!

After networking and researching we got our first short sale! Yay! It's in Oak Forest and an absolute dump from what I hear. The property was referred to my partner through a friend, who knew the homeowner was facing foreclosure due to the recent job market. They were behind on their mortgage payments, had already had their auction date extended once and still had not been able to come up with the fund to get current on their loan. Their second auction date was about a month away when I first contacted the owner.

The homeowner was in a state of denial and, at first, would not return my calls or e-mails since she was thinking she could avoid the short sale. I ended up writing an empathetic e-mail stating that I knew how hard her situation was and that I wanted to help in any way I could. I said I knew it was challenging to face the unknown, especially when it means something you really don’t want to happen must occur. I encouraged her to contact me so that we could get going on the short sale as a plan B, since her plan A was to earn comission through her network marketing business. She had written the bank requesting another extension on the auction date but I told her I wanted to make sure she had a safety net in case the bank would not grant the request or she could not come up with the funds in time. When she finally contacted me she said my e-mail , “hit the nail on the head”. I was able to gently speak to her fears and that motivated her to call me. Once she called we were able to get moving with the paperwork.

If it sounds like I've learned a lot, it's because I have. This is where I figured it out: www.newrichbdg.com