Short Sale info needed

[BossLady]

Hello everyone,

Do anyone have any good tips and steps to take for doing short sales? I'm very new to the real estate business and i'm interested in doing them . Would i need a good list of investors or investment companies ready to jump on a short sale deal first? I'm not licensed yet so do i even need one to do a short sale deal? Any advice would be appriciated, Thanks.

[Codythebest]

No need for a license. Go to the bank, check their stuff and make rock bottom offers. Lots of no, but when you get a yes...bingo..

[alex aguilar]

Are you looking to represent buyers who want to purchase short sales or work with home owners that need to sell their property via a short sale because of the lack of equity?

[brianlaughlin]

If you are thinking about marketing your self to sell homes. Then another thing you could do is go to a title company and ask them for their notice of default lists (NOD) and market to the home owners.

Short sales are still transactions with the homeowner that is contingent upon the lender approving the sale and loan short fall.

Good luck,

[carlam]

If you are going to make this your niche, take lots of classes! It is a very involved process and a lot of work. Lenders have their own procedures and polices to handle Short Sales, Pre-foreclosures, and Foreclosures.

[Orlando MLS]

I would recommend that you try and find a good company that specializes in short sales or REO's. Make sure they offer good training courses on how to manage short sales. Personally, I'd rather sell REO properties.

Short sales take time and are often hard to get approved - so it helps if you know what you are doing.

I wouldn't rely solely on short sale business though. It's nice to have a niche, but you're likely to go a little whacky if you ONLY deal with short sales.

Get your license first, and while you're doing your course read as many books and blogs as possible about short sales.

Also - you don't necessarily need investors to sell short sales - but you need buyers point blank. For a newly licensed person, I wouldn't recommend that you jump in with the investors. That's like tossing a three year old into a shark tank. You at least want to know how to swim so you have somewhat of a fighting chance.

...on the other hand, if you do start with investors - you're likely to learn a lot very quickly.

Best of luck with your new endeavour. :)

[DBQ]

I would recommend that you try and find a good company that specializes in short sales or REO's. Make sure they offer good training courses on how to manage short sales. Personally, I'd rather sell REO properties.

Short sales take time and are often hard to get approved - so it helps if you know what you are doing.

I wouldn't rely solely on short sale business though. It's nice to have a niche, but you're likely to go a little whacky if you ONLY deal with short sales.

Get your license first, and while you're doing your course read as many books and blogs as possible about short sales.

Also - you don't necessarily need investors to sell short sales - but you need buyers point blank. For a newly licensed person, I wouldn't recommend that you jump in with the investors. That's like tossing a three year old into a shark tank. You at least want to know how to swim so you have somewhat of a fighting chance.

...on the other hand, if you do start with investors - you're likely to learn a lot very quickly.

Best of luck with your new endeavour. :)

Best advice you could have gotten.