The Middle Man

There are many new companies that offer their service as “negotiators”. These companies for a fee (usually 1-2% commission) will negotiate directly with the lenders involved. Their claim is that they have experience and will stay in constant contact with the lender. Usually, they are employed by the listing agent. It is important to know if one of these companies are involved in the process. ... [Read more]

Over-pricing vs. Under-pricing

When listing short sale property, a Realtor may start with an asking price that looks to be too high compared to the current market. This may be a part of a required process on the part of the lender involved. Many times the lender will require the home to be marketed for several weeks.  If there is no interest, then lower the asking price.  Continue to market the home at the new asking price for... [Read more]

Short Sale Approved!

Really? After submitting an offer to be considered by the lender for a “short sale”, you may be informed that the offer price and conditions have been approved.  Many times the “waiting game” takes so long that the buyer making the offer decides to move on and find another property.  At that point, the listing agent knows the acceptable price and terms from the lender.  Reading... [Read more]