Dave Grant

To call your self a expert is a loose term when it comes to short sales because it is never a guarantee the transaction will be approved, however a agent or brokerage that does a large amount of these transactions will have more knowledge on how to get them done, what the banks will and will not do . The key in a short sale is to price the home so you have a contract within the first 30 days. The listing agent should send all of your seller documents to the bank at the time of listing so you are putting the bank on notice so to speak that you are looking at doing a short sale. Once you have a contract from a buyer then that along with a settlement statement is sent to the bank for approval. It is impprotant that the financial package and contract paper work is complete, you do not want to send incomplete paper work this will only delay the process. As for the bank waiving their right to a deficiency judgement is a decision only the bank/investor can approve. The key is to try to get them to put that in the approval letter , it varies from bank to bank and loan to loan. I have completed 12 verifiable short sales in the last year, I mainly sale foreclosures but do handle short sales as well. I just closed a short sale 10/16/2009 with wells fargo and they released my client from a 260k deficiency and it was stated clearly in the letter. The companies you listed above are all very good and do work short sales, I have worked with some of them myself. Good luck on your search and please feel free to contact me in regards to assisting you in this big decision.

Thank you,
Dave Grant - Mon Oct 26 2009, 22:14