time was? How were they to deal with? Were they reasonable with the final price? Did they want the buyer to close too quickly (less than 2 weeks)? How were they with the cost? Did they cut the commissions down a lot? Any experience you had with WAMU short sales will be greatly appreciated. I know all lenders are different & I have not done one with them.
HI,
WAMU and all the others are swamped with SS files...to get yours processed quickly..
1) turn in a complete package.
2) send them a REO vs SS spreadsheet.
3) Control the BPO.
4) Email always vs calling.
5) Dont be afraid to go over the negotiators head.
6) Call in the evenings (if you are going to call) and on Sat am. Yes, they are there.
7) Pricing..last sold comp-10 to 15%. They want 82% of the BPO.
Hope this helps...
http://www.AgentShortSaleSecrets.com
Denise: We just finished a grueling short sale ordeal with Washington Mutual. To their credit, they were able to to stop the foreclosure 3 times, but it was a trial of patience.
In the end, our commission was cut to 4 percent (which we split with the selling agent) and we had to pay for HOA fees that were in arrears along with the home warranty policy.
Perhaps improvements are in the works. I hope so.
Hi Denise,
My transaction with WaMu was great. They were responsive and fairly good to work with. It greatly depends on who you work with at WaMu or any other bank though.
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