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Northeast OH Short Sale Myth: It Is Very Difficult To Get A Bank To Approve A Short Sale

Northeast OH – Short sales are difficult when you do not know what you are doing. But, they aren’t as difficult as people say.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here are the three keys to getting a short sale approved.

#1: Follow up. Many agents don’t take short sales seriously. They have heard the horror stories from other agents and therefore don’t think their odds of success are very high.

Because of that, they don’t put much effort into the short sale. They’ll submit the short sale file, but won’t spend much time following up on it.

If it gets approved, then great. If not, then oh well. A denied or drawn out short sale just confirm their perception that short sales are difficult.

“I knew short sales were hard and this just confirms this”, they say to themselves. But, they never gave themselves a chance in the beginning and set themselves up for failure.

The key to getting our short sales approved is follow up. The bank’s negotiator is like a government bureaucrat. They don’t care if the short sale is approved or denied. They just process the file.

So you have to supply them with whatever they request. If you give them what they want, then with a little luck the short sale will be approved.

#2: Luck. Not every single short sale is going to be approved the first time. The bank won’t approve the short sale if they think it is selling below fair market value.

But, the bank’s valuation process is flawed. Sometimes the property will be valued fairly and sometimes it won’t. Sometimes luck is with you and the valuation is good.

Other times, it isn’t and the short sale is denies. Which brings us to Key #3: Time. If the short sale is denied, then you simply put the home back on the market and try again.

The odds are better than 50% of the time the valuation will be correct so the short sale can be approved. This gives you another fair shot at getting the short sale approved.

If luck is on your side, then the short sale is approved. If not, then you have to try again a third time. Again, the odds are in your favor.

If you have time on your side, then the odds will usually prevail and the short sale will be approved. That is why the vast majority of short sales are approved by the second time around. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at iandymorris@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (440) 348-5500

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Northeast OH loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (440) 348-5500. iandymorris@gmail.com.

View My homes for sale at www.rtserve.com.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH. Northeast OH Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Northeast OH Short Sales. Northeast OH Realtor, Northeast OH Stop Foreclosure, Northeast OH Foreclosure Prevention, Prevent Foreclosure Northeast OH, Northeast OH Foreclosure Defense, Northeast OH behind in Payments.

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