Foreclosure in 37075>Question Details

Dawnh, Both Buyer and Seller in Hendersonville, TN

What is the best way to find short sale leads?

Asked by Dawnh, Hendersonville, TN Fri Oct 16, 2009

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11
Short sale leads are everywhere just walk outside and talk to some neighbors lol.
Seriously if you want the best short sale listings you should check into reo prep.
Web Reference: http://www.reoprep.com
0 votes Thank Flag Link Fri Sep 16, 2011
No kidding short sales have been a real pita.
Having that said I think the banks have also come a long way where short sales have become pretty easy.
Especially through equator or reoprep they seem to be pretty streamlined.
0 votes Thank Flag Link Mon Sep 12, 2011
Just think - If Dawnh was able to find a short sale way back in Oct, 2009, when she first asked this question..........maybe by now it might have closed!
0 votes Thank Flag Link Sat Dec 11, 2010
I agree, with the caveat of finding one that will "actually close". Short sales these days can go on for 12 mon's and still NEVER Close!!!

In the past (prior to 2009-2010) Short sales were often a great opportunity for certain Buyers, with closings happening almost effortlessly. However, in more recent times short sales have become a very big Black eye within the industry and often have indeed represented a greater opportunity for frustration (to ALL parties) then investment.

With ALL of the latest complexities within short sales. I would highly reccomend finding a trusted Realtor who is Local to your target Buying area. #1. This will allow you your best opportunity to find the right Home for the right price and in the right area. #2. this will give you the Buyer, the necessary professional and Legal Team to guide and help protect you through the Home Buying process. #3. With this type of approach you may even find the perfect Home outside of the sometimes futile short sale process...

Make no mistake, there is an opportunity for a Deal sometimes through a short sale. But, there is a lot of opportunity for much frustration and months of time invested that amounts to nothing... A Good agent who understands your situation and needs, can find you many opportunities and help you to wgh. out your best options.

Good Luck, Hendersonville is a great place to Live and invest...
0 votes Thank Flag Link Sat Dec 11, 2010
Matt said it perfectly. How to find a short sale lead that will actually close.
I would suggest reoprep. They assign short sales that have already been processed. When I get a short sale from reo prep they already have all financials because the short sale listing is a result of a denied loan modification. http://www.reoprep.com
Web Reference: http://www.reoprep.com
0 votes Thank Flag Link Mon Dec 6, 2010
The real question is "How do I find great short sale homes that I have a high percentage chance of buying AND CLOSING?" The reason I am saying this is because according to local statistics only about 33% of the short sale transactions close. Which means the buyer tries, waites, and never gets the house. The problem is that real estate agents are not well groomed and practiced with the processes involved to get one of these transactions through the 3rd party creditors tangled web and mess to get an approval. We have been closing short sales since the early 1990's and close more than 90% of our listings. Your broker or agent needs to interview the agents who have the short sale properties listed to determine your chances of closing the purchase....that way you go in knowing your chances. The MLS is required to post listings as Short Sales and we can find them that way. Good Luck!
0 votes Thank Flag Link Wed Jun 2, 2010
Dawn: Align yourself with a well-educated "short sale" Realtor. I am a Certified Default Resolution Specialist in the Sumner County area. Please feel free to contact me if you are looking in the Middle Tennessee area. For other areas in the country, I am in a network of short sale specialists and would be happy to help you find someone. Happy Buying.
Web Reference: http://www.DarlaHunley.com
0 votes Thank Flag Link Thu Feb 4, 2010
Dawn,

The best resource for any real estate component is referring to a local licensed real estate professional.

Contact one today...........

Best wishes
0 votes Thank Flag Link Sat Oct 17, 2009
For purchase, most will be urgently marketed through a real estate agent nowadays. Try realtracs.com for up to the minute (well, 15 minute) availability here locally. Also, you may look into RealtyTrac.com for related information and foreclosure lists.

Found some great deals in the Hendersonville area earlier this year for a few clients (young couples looking to buy under market value, maybe do a little work but not too much). Related story: http://signswemustobserve.blogspot.com/2009/06/another-affor…
Stick to the areas that sell the best if you can, and be ready to act.

kevin pellatiro (615)714-7918 kpellatiro@realtracs.com http://signswemustobserve.blogspot.com/
0 votes Thank Flag Link Fri Oct 16, 2009
The best way to find leads is to work with a Realtor. The reason I say that is because every short sale lead needs to be qualified. Everyone property that says short sale does not mean that it is ready to be sold. Some people are advertising short sales although they have not even started the short sale process with their lender.

Working with an experienced Realtor is the best way to handle looking for and purchasing short sales. I have successfully closed 95% of the short sales that I have either represented the buyer or seller. If you have any additional questions, please give me a call 615.390.5247 or send me an email myhome@kristyhairston.com.

Thanks for your question.
0 votes Thank Flag Link Fri Oct 16, 2009
The MLS listings will generally disclose when a listing price is a short sale either approved or not. You could ask your agent to go thru the inventory in your target area and see what he/she can come up with that indicate they are short sales. Beyond that there isn't a directory (that I'm aware of ) that you can go to, to find such situations. If you belong to Realty Trak you'll see which properties are distressed and then if your agent can determine that they are currently on the market, it's a pretty good bet that those owners would be the most open to making considerable concessions in order to avoid a foreclosure. While it's great to get good deals, its too bad it has to be at the detriment of our neighbors. Let's hope we are at the end of this correction.
0 votes Thank Flag Link Fri Oct 16, 2009
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