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IL – It always amazes me when I hear the stories of agents who talk about horrible short sales are. “Don’t waste your time on a short sale”, they tell homeowners.

“They are a waste of time. The lenders won’t approve them and the process is horrible. The last short sale I worked on took 9 months”, they say.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

This gives short sales a bad name. Homeowners mistakenly believe that a short sale is impossible. I am here to tell you that is not true.

The Stop Foreclosure Institute has sold and closed many short sales. There are two keys to being successful. First, you have to understand how the process works. Second, you have to keep an eye on the transaction from start to finish.

Here is the closest comparison I can think of on why some agents hate short sales. Let’s say that you are a brand new driver.

You hop into a car, accelerate to 70 miles per hours, turn on cruise control, and then start reading a book. Every 5 minutes or so you look up to check on what is going on with your car.

You aren’t successful at driving a car. Your friend is thinking about learning how to drive. “Don’t even think about driving a car. Driving just doesn’t work and it is impossible to get anywhere”, you tell them.

Is what you just said correct? Is driving a car impossible? No, it’s not! But, many agents make the same claim about short sales.

They have never studied and learned the process. They have never successfully sold a short sale. But, they are sure ready to tell you that it doesn’t work.

Here is what they missed about short sales.

1. You need to be knowledgeable about the process. You need to have a solid understanding of HUD-1s, BPOs, and the short sale guidelines of the entity that owns or insures the loan.

2. You have to stick with the transaction. You need to follow up with the short sale lender regularly. You can’t check in on the short sale every week or two. A lender will often ask for something and want it back within 24 hours.

If they don’t get what they need, then they will close the file. If you agent isn’t checking in regularly, then the short sale file could be closed without their knowledge.

In addition, your agent needs to be able to make sure the HUD-1s and BPOs are accurate. I will explain what those acronyms mean and why they are important in my next post.

Ask the agent you are interviewing why they are important. Thinking about a short sale?

I can help you short sale your property in Aurora, IL and never pay the bank another penny. Send me an e-mail at evelyn4homes@aol.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 630-896-9999

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

Thinking about a loan modification? Our 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, Evelyn Santiago.

Evelyn is a Real Estate Broker at Dynamic Real Estate Network, Inc. . Short Sales Realtor:

Phone: 630-896-9999. evelyn4homes@aol.com.

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

Evelyn Santiago specializes in loan modification assistance and short sales in Aurora Illinois. Oswego Loan Modification Help, Oswego Short Sales. Oswego Short Sale Realtor. Montgomery Loan Modification Help, Montgomery Short Sales, Montgomery Short Sale Realtor. Yorkville Loan Modification Help, Yorkville Short Sales, Yorkville Short Sale Realtor. IL Short Sales. Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Evelyn Santiago’s personal views and do not reflect the views of Dynamic Real Estate Network, Inc. .

This information on Short Sales: What can go bad on a short sale when you hire an agent that doesn’t understand short sales is provided as a courtesy to our viewers to help them make informed decisions.

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