When people call me and tell me they want to buy a short sale, I ask them, “What makes you interested in short sales?” The first response is usually that they’re a ‘good deal’. And I’m not going to argue with that in as much as, the price the buyer will pay will not be more than fair market value. But wanting to see short sales to hopefully buy one is really only the beginning. Due to the competitive market for ‘good deals’, attractive short sales listings usually are magnetic. What do I mean by that? Well, they’re like a magnet, pulling in all the buyers. So one must ask him or herself, “How do I get my offer noticed over other offers?”

Getting Your Offer To The Top Of The List
Just recently, I was negotiating with an agent who had a home that was selling as a short sale. We were talking and as I took him through the offer, I mentioned the attorney’s name. With that, the conversation changed and the agent was much more receptive to my buyer’s offer.

We real estate agents in the business, talk about the importance of having a good team and how important that is for the buyers and sellers. Most times, people nod and don’t really listen or at least give the impression more times than not, that ‘they know’ and basically shrug off valuable information, such as a good attorney or banker.

Well this buyer that I happen to be working with, didn’t do that. She listened intently and proceeded to use our services, speak with the referrals we mentioned for both her legal representation and financing needs, and made an offer on a short sale.

She benefited from the experience of having me and my assistant, Wendy, do all the homework on the properties she was interested in. We consulted her on the important information on all the short sale listings, eliminating the “bad ones” and conversely, moving on the “good ones”.

She also benefited from receiving the ultimate pre-approval consultation, qualifying for both a 203k loan and regular FHA financing, with letters on file explaining her pre-commitment (not just a pre approval). She also furnished us with her proof of funds (for her down payment).

Lastly, she decided to hire the attorney we recommended who specializes in short sales.

The Results
The result was evident. Once the other agent saw that we had everything lined up and that the buyer was using a well-known short sale expert as her attorney, there was no question, our offer was at the very least, considered more closely than the five or six other offers from less experienced agents, bankers and attorneys.

Oh and our buyer got the house.