Naples FL – We see a lot of agent’s going about escalating a file the wrong way. It reminds us of the appeals process game in death row.
Everyone has to go thru the appeals process. It drags on for years and years. After a while it simply becomes a game. We don’t want to see short sale escalation turn into a “game.”
Treat the Short Sale Escalation Process like a sales process. Don’t treat it like just another technical process that you do for no reason.
Don’t just escalate the file “because you felt like it.” The reason you escalate a file is because the lender is making a bad decision turning down the offer.
You feel, based on your superior knowledge of the property and the local housing market, that they will lose more money thru foreclosure.
And you are moving the file up the chain to make sure they don’t lose even more money. When you escalate a file, make sure you tell everyone that they are going to lose money if they don’t accept the offer.
Tell them, “Based on my projections, you will net 180k with this offer and 163k after foreclosure.” Give them documentation to back that up.
Here are a few examples of documentation we send to them.
1. Comparable Sales.
2. Other similar homes for sale that are competing for the same buyers.
3. Active, competing bank owned comps.
4. Other bank owned sales that were rejected as short sales and the lenders lost money as a result.
5. MLS History.
6. Bank owned comps that may not have been allowed in the Property Valuation or appraisal.
This documentation is designed to help your case. It will help convince them that you are escalating a file for a legitimate reason. It’s not just a game to you. Thinking about a short sale?
We can help you short sale your property and never pay the bank another penny. Send us an e-mail at ShortSales@SwFLRealtyExperts.com. We will contact you for a free consultation.
When we talk, we will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call us at 239-370-1513 or 239-250-4711.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Naples loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thank you for reading this, Dennis and Lana McLaughlin.
Dennis and Lana are Real Estate Agents at Realty Pros of Naples, LLC.
Phone: 239-370-1513 or 239-250-4711. ShortSales@SwFLRealtyExperts.com.
Real People. Real Experience in Helping Homeowners in Distress
View homes for sale at www.SwFLRealtyExperts.com.
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The views expressed here are McLaughlin’s personal views and do not reflect the views of Realty Pros of Naples, LLC.
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