Short Sale Negotiation Presentation
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Transcript of Short Sale Negotiation Presentation
![Page 1: Short Sale Negotiation Presentation](https://reader036.fdocuments.in/reader036/viewer/2022081414/54828a575806b51a058b46e3/html5/thumbnails/1.jpg)
Short Sale Negotiation
Effective Short Sale Negotiation willboost your listings, closings and referrals
Contemporary Ventures Group
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Maintain control throughout the negotiation process by providing the bank with documentation that compels a decision to accept the Short Sale offer in as reasonable a time as possible.
Contemporary Ventures Group
The Goal
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• Where do I focus my time and efforts?• Do I avoid pursuing short sale opportunities?• What % of my listing appointments are shortpays?• What is my short sale negotiating strategy?• How long does it take to negotiate an approval?• Where is my focus, on Prospecting or Negotiating?• Do I want to generate more business?
Ask Yourself these questions…
Contemporary Ventures Group
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Short Sales Up 128 Percent in 2010 22 December 2010 Results for the first nine months of 2010 are in and Fannie Mae
had a 128 percent increase in short sales and deeds-in-lieu of foreclosure over the same period in 2009. Freddie Mac fared only slightly better, with short sales and deed-in-lieu transactions
Contemporary Ventures Group
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• More than 1 in 8 homeowners are upside-down on the mortgage and don’t know what to do. The search for a solution can be filled with misinformation and fraud which often adds more frustration to a difficult situation.
• Being educated in today’s shifting market is the most important safeguard you can take in preventing lost opportunities. Homeowners need to understand all options. The average foreclosure can cost a lender from 35-50% of the value of a property (or more).
• Distressed Property Institute “July 2010”
Contemporary Ventures Group
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Contemporary Ventures Group
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Contemporary Ventures Group
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Contemporary Ventures Group
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Contemporary Ventures Group
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Contemporary Ventures Group
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Contemporary Ventures Group
Factors in Short Sale
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Contemporary Ventures Group
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Contemporary Ventures Group
People:Documenting the Income
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Contemporary Ventures Group
People:Documenting the Expenses
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Contemporary Ventures Group
People:Documenting the Assets
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Need to demonstrate to the bank that there is no chance of the homeowner catching up or meeting their obligation
Factually highlight a borrowers circumstances in a chronological fashion
Provide lender with indisputable reasoning that substantiates approving a short sale as the best decision
Documenting the Problem:Hardship Letter
Contemporary Ventures Group
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Document the PropertyMake it Personal – Brand the file
Contemporary Ventures Group
•Market the file to the Lender’s Loss Mitigation Rep
•Create a Personal Connection, Brand with the Homeowner
•Do NOT allow the bank to “OWN” the file – make it represent real people, a family, rather than a thing
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Consequences of takingBack an REO to the Lender
Contemporary Ventures Group
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• Where do I focus my time and efforts?• Do I avoid pursuing short sale opportunities?• What % of my listing appointments are short pays?• What is my short sale negotiating strategy?• How long does it take to negotiate an approval?• Where is my focus, on Prospecting or Negotiating?• Do I want to generate more business?
Ask Yourself these questions…
Contemporary Ventures Group
![Page 20: Short Sale Negotiation Presentation](https://reader036.fdocuments.in/reader036/viewer/2022081414/54828a575806b51a058b46e3/html5/thumbnails/20.jpg)
Contemporary Ventures Group
WHAT IS YOUR REAL BUSINESS?
1. LEAD GENERATION & CONVERSION = PROSPECTING2. LISTING/SELLING = REVENUE
WHAT DETRACTS FROM YOU EXECUTING YOUR BUSINESS?
1. ANYTHING NOT INCLUDED IN NUMBERS 1 and 2 ABOVE
WHAT DO YOU REALLY WANT FROM YOUR BUSINESS?
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Questions How we can be a RESOURCE for you? Conclusion
What We Can Do for You
Wrap-Up
Contemporary Ventures Group