You definately will want to interview a few agents before making a decision. Experience is everything when it comes to short sales. Of course, there should also be no cost to you as well! Also beware of the "home buyers" out there, most of them are only out to dupe your lender and flip it to a REAL buyer. Find an agent who will represent YOUR best interests in the transaction, NOT their own! Try these http://www.newjerseyshortsalespecialist.com

sure love to help. visit http://westchestercountyhomenews.com and get my FREE e-Book

ive been in shortsale long before it was a trend.

ALberto soliz
917-826-0705 http://www.trulia.com/profile/hrs/

would love to assit you, if you are in need.

OK Great. You don't charge the homeowner. Nobody should.

Now please tell us why flipping with an option contract is illegal?

I'm still waiting for your reply. You're an expert. You said it was illegal. Why not explain?

Many people can take a weekend class and call themselves and "expert", but we have experience with thousands of them. There is no cost for New York home owners in a short sale!

I might be interested. Need more data. Like what capital are you working with and where the monies come from.

sure. i am a cerified distressed property expert.

To the JAX agent...you're an expert? A short sale expert? I call BS.

You said:

"only want to put in a "$10 option contract" and then illegally flip your home to a REAL home buyer"

What is illegal about it?

Give us specifics from an expert like yourself. It should be no problem, right?

Is an option contract illegal?

Is it the $10?

Is flipping illegal?

Tell us.

sure. we are real estate brokers in westchester county. we are cerified distressed property experts. would love to help. anthony crecco 914.774.9324.
http://www.westchestercountyhomenews.com

We are a network of Short Sale agents throughout New York who offer free expert help to home owners in financial hardship. Beware of scam artist investors posing as home buyer, when they only want to put in a "$10 option contract" and then illegally flip your home to a REAL home buyer. Only choose a licensed Real Estate Broker who will look out for YOUR best interests, not their own.

I am a licensed Real Estate Broker with over 10 years experience as a Shortsale Specialist. I can prepare authorizations, Bank letters and shortsale proposal in less than one hour. Please call me with all information and I will forward your package immediately. I can help make your busy days easier and help you prepare shortsales in a timely manner. Focus on what you do best...sell houses.

You must make sure you have an agent that can put a full package together. This includes everything from getting the sellers information in a complete package with the offer, and complete contract with money in escrow. If the agent leaves any part out, your short sale can last 6 month only to hear NO from the bank.

i can't believe people are still answering this question. I can't believe I answered it in December...08 - this question (according to the date on here) is from Nov....07!

I an a Real Estate Broker and my forte is SHORT SALES. ATRUE Short Sale must have documented and verifiable financial harship explaining what got the home owner into this situation, the homeowner must be financially insolvent, the homeowner cannot file bankrupkcy and the house must not have an impending foreclosure auction date.
Please give me a call. I have the knowledge and expertise to assist you in New York State, plus I am local.
Subomi Macaulay Associate Broker Century 21 Schneider Realty 914 345-3550

We are a network of short sale realtors throughout New York, including Queens and Manhattan short sale Experts. Choosing somebody with experience is very important

Dear Brendan Kert,

We do short sales in volume with the utmost discretion and compassion.Please e-mail goldbergassociates@gmail to fulfill your needs

Our company sells short sale properties on Long Island and the surrounding area. We have been doing this for quite some time and all I can say from what i have seen is that you MUST use someone who is experienced in the short sale process. We have seen many homeowners/buyes being taken advantage of by companies that have little or no experience although they claim that they do. Please feel free to contact us for information. We are located in Melville, Long Island, but deal with Queens, Brooklyn, and New York City as well.

GHH Realty http://www.ghhrealestate.com

Or

Real Estate attorney Peter J. Goodman at http://www.pjgoodmanesq.net

Choosing an experienced Realtor is extremely important in the New York Short Sale process. Patience is a must. Consult the reference below.

Brendan, I strongly recommend that you communicate and engage the services of an attorney who is familiar with the short sale process. Many people claim to be an expert.
Best wishes,
Michele Peters

I am a Certified Short Sale Professional (CSP) in NYC. I had to complete additional education and pass certification for this designation. Please let me know if I can be of assistance.

Short sale is a specialized field that takes a broker expert in real estate value, negotiating and closing the sale. It takes a team of experts, a broker to close the sale from a real estate perspective and an attorney that can close the sale from a legal perspective; one fact for certain, all parties to the transaction must be satisfied to close. Every short sale residential or commercial real estate transaction will vary from circumstance to each sale resulting in sold price to the acquisition. The range to acceptance of the difference owed to the lender or investor can be 100% forgiveness to the principal seller or deal with a bankruptcy. One common factor to every transaction to the outcome of any short sale is the team representing/brokering the deal. That's a matter of fact from thirty two years experience!

Brendan -

Word to the wise - Buying a short sale takes patience and LOW expectations - and I don't mean LOW price either.

Expect to pay up to 90% of the fair market value. Banks are desperate, but unless they know you as an investor - they negotiate hard-headed, poorly and without emotion.

The KEY is working with the right agent who can Pre-Qual a property - by simply asking the right questions of the listing agent. I know these quesions... :)

You can call me at my corporate office - 877-765-3123. If I can't help you - I know a few excellent agents in Manhattan.

What is your price range?
What is your exit strategy (goal for purchase - investment or personal)?
Type of property (commercial or residential)?
Are you Pre-approved for a mortgage?
Are you Cash buyer?
Are you looking to buy second notes?

It is important to choose someone with experience in working short sales, who will also represent YOUR best intersts. It is usually a wise decistion to stay away from the investor type. Consult the resource below for more information on short sales and short sale agents

I just read Irene's answer - and I couldn't disagree MORE. Nothing personal - but I can tell you while that's important - HOW DO YOU KNOW IF THE LISTING AGENT IS A "SPECIALIST"?

And more than that - who's representing YOUR interests as a buyer? Who's educating you? The SELLERS agent????

No.

Brendan - find a quality agent in your area who works with BUYERS. You have your attorney to protect you legally - but your real estate agent helps you ultimately to be educated about the market.

I can assist with finding an agent - contact me.

Amber -

Refer me your short sale business - I have the right partners - I get it done. You're using the wrong attornies.

Sorry to burst the attorney bubble but i work with attorney who o short sales and they are the most insensitive
and negilent when it comes to completing a short sale and bring it to close. I am waiting to be surprised by some attorney who actually gets it done in a timely fashion and not hand it over to their office assistant who are on a salary and could care less wether this complicated annoying and some times highly frustrating process comes to a finish. they just drop the ball and blame it on the bank :-) best thing to do is get a referal
who ever you go to make sure you ask if thie person ever actually closed and take that number and call them:-) I do short sales and there is alot of scum in this business alot, very few ethical deligent people.
all the best. feel free to call me if you wish i can give you the scoop on your position (not trying to sell myself)
just being plain honest you can reach me @ 718-275-0841 all the best.

It looks to me that you are a buyer who's looking to purchase a property that is in a pre-foreclosure stateg stage. if this is true then you realy don't have to worry about the agent that you are working with to be a short sale specialist. The important part is that the agent who has the listing is a specialist since he/she is the one who will be communicating with the bank.

Please give me a call and we can talk first and see if a short sale is your only option. There are several loan mitigation remedies, and a short sale is only one of them. When did you make your last mortgage payment? Did you receive a lis pendens or notice of default? When was the last full mortgage payment you made because sometimes people make only partial payments? I look forward to speaking with you. call me914 843-5637

Start with an attorney to help you on this.

Hello, I am a SHORT SALE EXPERT in Westchester County and the Bronx. Do give me a call @ (914) 843-5637. Short sales are really pre foreclosures and they require paperwork and loads of time. Let's make this happen.

i handle short sale for over 7yrs and have several deals in queens.i can help 917-826-0705.

Contact Gail Gladstone at Coldwell Banker 631-425-6150 she is the ultimate professional and I have worked with her doing short sales.

Brendan, I strongly suggest talking to a real estate attorney first, maybe a few and get some recommendations from them on realtors they have worked with.

have you called short sales pak? They were great for me. I am an new investor looking into properties in NY and Fl they handled the documents that were needed for the Realtor and attorney. Call them I think that they will help you, they are specialists. 800 520-3053.

make sure you consult with an attorney.

This has be come a very common problem in a lot of market places on Long Island. I am very familiar with the entire process of short sales. Its not always easy or guranteed to close. You can reach me at the link below

In the thirty years I've been practicing real estate in Long Island I have never experienced four listing appointments in a row in Nassau County where during valuation to each house sold on the international real estate market today the mortgage balance was higher than the true value to each property. Two of the homeowners are in financial distress. We specialize in listing residential property across Long Island and selling homes at their true value whether in distress or not. We have teamed with an expert attorney in Kew Gardens that specializes with homeowners whose mortgage his higher than the properties value and where the homeowner wants to keep the home. In cases where there is absolutely no relief by the homeowner’s lender between our collective efforts from broker and legal perspectives we specialize in short sales in the homeowners’ interest.

Try going to http://www.nationalrealestatesolutions.org because a few months ago i was in the same situation that they helped me get out for foreclosure. Then they helped me repair my credit and everything.

We are Short Sale specialists in NY.
Please visit our site at http://www.removemylien.com, we are fully staffed with attorneys, Mortgage brokers, Real Estate brokers, Appraisers etc.
We are also certified loss mitigation consultants.
For positive results please contact us immediately through our website or by email at ss@ripthebanks.com.

One critical aspect to a successful short sale is that the listing broker to the sale provides accurate comparables to the lender. A detailed sheet outlining the depreciation value to the subject property and the cost relative to condition to bring the property to comparable value needs to be included in the comparative valuation. The more accurate this valuation supported by documentation will increase the probability to approval by the lender. Also keep in mind that the lender may not be the investor. Case on point – in Valley Stream, New York approximately four months ago everything done accurate, the bank denied the short sale at contract price 430k the day before the scheduled closing date and held the public sale at starting bid 420K two days later. There were no bids and the bank bought the property back at 450K. The following day the subject property reverted back to FannieMae and is currently listed at 379K with another broker. Everybody lost on this deal, especially the post foreclosed homeowner, close to 200k in equity in twenty months. In addition, the attorney representing the foreclosed homeowner needs to be an expert in overcoming objections from a legal perspective to all partys’ interest to the transaction.

Ripthebanks.com - they do it all....

I am the senior partner of a real estate law firm located in Long Island, NY. I represent buyers, sellers, investors, lenders and builders. We process short sales on behalf of our clients as well as loan workouts and modifications.
Please contact me at 516-378-3737 or you can email me at kscanlon@scanlonandpinto.com.

I have many lawyers who specialize in short sales contact me at 718 708 2971 my name is Oscar Lopez and Work for the biggest office in the Queens area in NY

I would check with family, friends and work associates to recommend some local realtors. I would interview and ask if they have any experience and what their experience is in the short sale market.