|
|
Negotiate Your Way To Huge Profits In Foreclosures |
 |
|
|
When doing a short sale on house foreclosures, you need to know how to play the game with the banks. Their job is to get as much money for the house foreclosures as possible and your job is to get it as cheap as possible. Call to make sure they got your paperwork as they seem to lose a lot of paperwork. Take pictures of everything wrong with the house because really important when you are negotiating a low price on house foreclosures. Do not negotiate with loss mitigators on the phone, instead tell them you will fax them a counter.
You do not want to give a price on the phone because if you do you will lose in negotiating. Get their email address to send pictures to support your low price. The loss mitigators need proof of the price you are giving so use that digital camera to take pictures of all the repairs needed on the house foreclosures. You will need proof of your price either through comps or pictures so get the low comps for the houses similar to the one you are short selling. Pull comps for similar homes that need just as much repair as this way you are comparing oranges to oranges. Never argue with the loss mitigator because their job is to get the most for the property, not give it away because you asked so. Try to gain rapport with the loss mitigator or negotiator and let me stress the fact that they decide to give you the deal or not to give you the deal on particular house foreclosures so be nice. Use the MLS for your comps and remember they cannot be more then 48 hours old so do not give them comps 2 weeks old.
Back to Articles...
|
|
|
