Short Sale Solutions: An Instruction Guide for Real Estate Agents
America’s Home Rescue, based out of Austin, Texas, released their book titled “Short Sale Solutions: An Instruction Guide for Real Estate Agents” in the Summer of 2006 and the book has become what most real estate agents across the country now consider the "Short Sale Bible"! This is one of the first fully comprehensive instruction guides on Short Sales…for Real Estate Agents. Much of the education provided on Short Sales is written by Investors for Investors. What about effective Short Sale education for real estate agents that actually walks the Agent step-by-step through the listing process, or as a Buyer's Agent? Here is a summary of what is provided in the guide.

Main Course on Short Sales

Step-by-Step Approach to Short Sales…from a real estate agent’s perspective!

- 10-step process for FHA

- 9-step process for VA & Conventional

Short Sales

Obtaining the Lead

Information Gathering

Appointment with Homeowner

Listing Agreement

Components of a Short Sale package

Going Active in MLS

Sending Short Sale Package to Lender (What to do and what not to do!)

The Appraisal

Acceptance into the Short Sale Program

Receiving an Offer

Acceptance of Offer from Lender

Closing

VA, FHA, Conventional Loans…what’s the difference?

Forms & Checklists

Individual bank Short Sale packets for all banks that America’s Home Rescue has worked with (CD Included)

HUD Forms

Example Listing Agreement

Example Hardship Letters

Frequently asked questions to ask homeowners

Qualified Leads vs. Quality Leads… You don’t work for free! Know the difference!

Where do you send your Short Sale package?

How many days should you wait to follow up on your package?

Customer Service Representative vs. Loss Mitigation Representative

Much more….

Short Sale Math

Learn how to determine estimated list price for initial listing agreement.

Learn how to determine estimated list price for MLS.

What is the lowest offer I should be entertaining?

What does the bank need to net while seriously considering a shorted payoff?

What is the estimated time to foreclosure? (Very important when considering your Short Sale strategy)

What are the lender thresholds for each type of loan? VA, Conventional, FHA, Home Equity, etc.

Bank Contact Section

Includes bank contact and loss mitigation information for over 36 banks and has a detailed list of what each bank requires for their Short Sale package.

Banks include:

Aurora
CitiMortgage
Countrywide
GMAC
Litton Loan Servicing
Option One Mortgage
Washington Mutual
Wells Fargo
Ocwen
Chase

And more….