Selling Poinciana One Property at a Time.: February 2012

Short Sale Epiphanies from Short Sale Superstars-It's Like a Lightbulb Went On!

So, I finally did it.  I found myself in the position of having to learn about short sales.  I have avoided it for as long as possible, but...as luck would have it, I have a seller who I may need to help with a VA Compromise Sale.  What is a VA Compromise Sale?  It's VAs version of a Miltary Short Sale for those who purchased their home with a VA Loan.  

Now, eventually I will be blogging about VA Compromise Sales because, quite frankly, I need to be the expert in this type of transaction as I am a Realtor® in one of the largest military areas and there is most certainly someone, somewhere around San Antonio Texas that can be helped with this type of transaction.  Not only that, I am retired Army (I know, I am always saying that--eye roll, but it's true), and I speak Army speak and should be helping my fellow Soldiers with this type of transaction.

The first person I contacted about this was Cindy Jones.  Why?  Well, if you read her posts, you can tell that she is the expert in her area of Northern Virginia on the VA Compromise Sale.  Cindy has done plenty of VA Compromise Sales successfully and it is a perfect niche for her area as she is right by a large Army post, Fort Belvoir.   She is also an avid supporter of our military.  She was a wealth of information...but she kept saying..."it's just a basic short sale package"

Ummm, what?  Since I have NEVER done a short sale...because as I said, I stayed away, I was, (am) at a disadvantage.  Not only as a listing agent by the way, as a buyer's agent as well.  I don't know how to help my buyer, buy a short sale.  In fact, I may end up inadvertently discouraging a buyer from buying one of those...well...because of all the things I have heard and thought.  And, although Cindy is a great resource, I am quite sure she doesn't want to train little ole me on a Short Sale and even if she did, it takes a minute to do that.  

So, the next place I went was to my buddy Ms. Charita Cadenhead who has done Short Sales.  She in fact, likes doing them!  Yikes!  But all  of the things I heard...all of the things I thought!!!  How in the world does anyone LIKE to do Short Sales?!  But I digress...she, (all excited...eye roll), said I need to take a class right away AND I most definitely needed to join Short Sale Superstars like RIGHT NOW...

And that is exactly what I did...(I am a good listener).  Anyway, to make a long post, shorter...I joined and signed up for the Advanced Training.  It took me a minute, because I wasn't sure if I should go take a designation class first and then go for the extra training or vice versa...I decided that if I need to know HOW to do a Short Sale, I might as well get it straight from the experts who do this everyday and have a successful career of helping many home owners successfully get a short sale and as many of you know Broker Bryant is that person.  

Here is where the epiphany comes in.  Turns out, what I thought I knew about Short Sales...I didn't!!!  Talk about having a lightbulb turn on!!  For example, I thought that when a buyer put in an offer for a short sale, that buyer may be competing with a ton of other offers that were sitting on the lender's desk.  I thought that the lender decided which one was the best offer and then picked that one based on the best price for the lender (sort of like a foreclosure).  I could not for the life of me figure out how this would benefit my buyer as it would hold up their earnest money for months with the potential of being told they weren't the winner of the offer.  

Not true!!  I KNOW RIGHT (I know I heard you all gasp)!!  I don't know...perhaps I am the only one who thought this...but for some reason I am thinking that I am probably not alone in this thought.  Turns out that there is only one accepted contract that goes to the lender.  It may take a while to get an answer and the lender may come back with a counter, but there shouldn't be multiple offers.  I had no idea...it's like a regular type sale...wow...whoda thunk it?

Anyway, turns out that joining Short Sale Superstars and taking the training is turning out to be a very good decision for me.  I am learning a ton and I have the support of the forums when I have a question.  Looks like I have been avoiding Short Sales for nothing...they may be a little more time intensive and lengthy, but looks like I have nothing to be afraid of...and I was. 

So, if you are anything like me, avoiding Short Sales until someone drags you in kicking and screaming...join Short Sale Superstars and I highly suggest taking the Advanced Training so that you can learn how to do a Short Sale from start to finish from Broker Bryant and Wendy Rulnick.  The training is easy to understand and if you join, you get instant access to them.  It's a pretty good deal in my opinion and given that I need to learn this stuff so that I can better serve my clients, this is the next best thing to having a mentor right there by your side!  

Brenda Mullen – San Antonio Texas Real Estate Professional

Selling a San Antonio Texas area home involves many steps and having an experienced  San Antonio  Texas Real Estate Agent by your side will make the transaction run a lot smoother. I would love to be your San Antonio Texas Area Real Estate Professional! I assist both buyers and sellers in the San Antonio Texas area with either the purchase and or sale of residential real estate.

As an Accredited Buyer’s Agent, I have received special training to guide and educate you through the entire home buying process. From start to finish, I listen to your needs and desires in what you would like and take the information you give me to find you home.

As your San Antonio Texas listing agent I am well versed on the local San Antonio Texas area Real Estate Market. You can expect personalized service that includes a detailed consultation on how to best position your home to be competitive in today’s market with an in depth comparative market analysis, and advice on staging. I use the latest and most up-to-date marketing methods to get your home in front of as many buyers as possible. Being your San Antonio Texas area Realtor® not only involves just finding the home or selling the home, but being your guide, negotiator, advisor and advocate and making sure that your needs and goals are met. Being your San Antonio Texas area Realtor® is one of my truest passions, and “Helping You Find Home” is my number one priority.

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Brenda Mullen
Realtor®, ACRE®, ABR®, ePro®

Keller Williams Realty - Helping You Find Home
10999 IH-10 West Ste #175

San Antonio, TX 78230
210-807-0819
brenda.mullen@sbcglobal.net
http://www.findurwayhome.com