Short Sale Tip # 1: The Cover Letter and Short Sale Request.
February 18, 2008
Although all lenders have varying requirements and may demand that a borrower submit a wide array of documentation, there are 10 Essential Elements of A Short Sale Package.
Here is a tip on the first element, The Cover Letter and Short Sale Request. The Cover Letter and Short Sale Request should be a one page, clearly defined document.
1. It should briefly state what your buyer is willing to pay for the property
2. It should state the reason or “hardship” that is the cause of the request
3. It should explain the other documents accompanying the proposal
4. It should state and define the offer as an “As-Is” All Cash Offer with no contingencies and that all inspections have been made to the buyer’s satisfaction
5. It should request the BPO so that the bank can expedite their opinion of value (if the bank already has a BPO it should request a second one including the interior of the property)
6. It should states clearly how much the bank can expect to “net” from your offer
7. It should state clearly as to when the closing will be.
8. It should also contain your contact information, the loan number, the borrower’s name and the Case Number.
If you are ready to take the next step in your real estate career and want to learn how to profit from foreclosures, make sure you enroll in one of our upcoming Pre-Foreclosure / Short Sale Seminar Workshops.You will learn how the foreclosure process works and how you can profit from this growing market. Instead of thinking that the market has turned against you, get educated and learn how to take advantage of this unbelievable opportunity for the educated real estate industry professional.
Ultimate Pre-Foreclosure & Short Sale Seminar Dates (more to be added)Ultimate Pre-Foreclosure & Short Sale Seminars (online version) : Learn the “Art of The Short Sale” from the quiet comfort of your own home or office. (coming soon)
March 8, 2008 - Miami, Florida - $250.00 discounted to $195.00 if you register prior to March 1, 2008 - REGISTER NOW
March 15, 2008 - West Palm Beach, Florida - $250.00 discounted to $195.00 if you register prior to March 8, 2008 - REGISTER NOW
March 22, 2008 - Orlando, Florida - $250.00 discounted to $195.00 if you register prior to March 15, 2008 - REGISTER NOW
See our video below to see what some of our past attendees had to say about the Ultimate Pre-Foreclosure & Short Sale Seminar!
This seminar presentation is unlike any other short sale seminar on the market. Many of our attendees have taken the class 3 and 4 times or more!
90% of our seminars sell out in advance.
If you feel that you can become a short sale expert by taking a rip-off imitation seminar or a free board seminar, then you are really missing the boat on short sale opportunities!
For more information on the 2008 Ultimate Pre-Foreclosure & Short Sale Seminar Series, please call us at 954-566-0923.
Comments
Got something to say?