Ok, so you are trying to negotiate with the bank on your short sale and you’re having a tough go at it. You think you can squeeze another $10,000.00 to $20,000.00 from them but you can’t find the incentive that gets them to wise up. Well if you operate in a Southeast Coastal area, Mother Nature may have just given you a leg up. It’s Hurricane Season!
As many homeowners have decided to simply walkaway from their homes and opted for some jinglemail relief, there are literally hundreds of homes not being card for and this lack of upkeep could become a critical liability for banks and municipalities this hurricane season.
In addition, the homes the banks already posess in their REO inventory could bring about even more liability to a banking and insurance system that is already financially stretched as thin as it can.
As the Associated Press reported this week, these unoccupied homes would “be defenseless in a storm;
there will be no one to put up shutters, batten down garage doors and otherwise secure homes. But that’s not all. Nearby homes and their residents would also be at risk from wind-propelled debris.”
With no one securing these vacant homes, even a low level category hurricane could turn these abandoned properties into safety hazards during a storm. Destroyed or heavily damaged homes would also further depress property values in already hard-hit areas.
So what is the profit seeking opportunist to do? Use this to their advantage. We’ll be doing another short sale ninja profit video on this topic and we’ll show you how to use the hurricane season to your advantage in negotiating with a stubborn bank.
Trust me (or don’t), but influencing a bank with impending liability is an absolute money maker. When a bank sees liability they cringe. You think a hardship letter matters or a BPO is the end all be all? Think again short sale neophyte, liability is a very strong factor …if you know how to use it to your advantage.
We’ll have the new video done in a couple of days. Until then stay tuned to the Weather Channel this hurricane season. It’s like watching stock charts baby!
