Sacramento Short Sale Changes
Short sales have continued to evolve through the years as short sale agents continue to help home sellers avoid foreclosure. ?There have been government programs that have worked for few and not for others as well as needed forms and new forms as banks find areas in the short sale process that have fallen through the cracks.
Bank of America for instance now has a new authorization form among other forms and requirements for short sale sellers and their agents to fill out. ?At first Bank of America said, this new form was developed since the bank received so many ?different authorization forms from all over the U.S. ? However, my guess after learning many short sale listing agents don?t negotiate their own short sales but hire others to do it for them, came to light. ?Many of these short sale assistants are not even licensed and the listing agent has relinquished their home sellers future into the hands of a unlicensed assistant to negotiate and provide necessary documentation.
If I were a short sale seller, I would want the short sale REALTOR? I hired to list my short sale to conduct the short sale not a third party who isn?t even licensed. ?This is not a game, this is people?s credit and lives and deserves the appropriate respect. ?I realize times are tough and agents don?t get paid for many months on a short sale so they work on getting more short sale listings. ?The more listings, the more money, in the ?end. ?But, as a REALTOR? you have a fiduciary duty to the short sale seller to do the best job for them and they hired you, not a third party.
Bank of America with all their new changes has indicated they plan on shortening the short sale process from 45 days or longer down to 20 days. ?Hope we see this come to fruition. ?It certainly would be a smart move on Bank of America?s part.
Home Sellers, Do You Know Who is Doing Your Short Sale?
Now, B of A on the authorization form requires the license number of the short sale agent who will be conducting the short sale on behalf of the short sale home seller. ?Will there be those agents who simply write their license number on the form and continue using unlicensed assistants to negotiate with the bank? ?Unfortunately, probably the answer is yes.
Sacramento Short Sale Agent
Home sellers who are having trouble paying their house payment need an experienced short sale agent who works on their behalf and that?s just what Riede Real Estate does. ?We always have our home sellers best interest at heart and strive to do the best on each short sale.
It?s vital with all the changes, that short sale agents keep up with the short sale changes that continue to be made otherwise this will have an impact on the short sale seller and if a short sale is approved by the bank. ?I get a kick out of those who write books on short sales, since by the time the writing is finished, most is not even applicable due to changes made and new programs added. ?Short sales are like a revolving door in a hotel that just keep changing so short sale agents need to keep up with those changes.
If you are a homeowner who is having trouble paying your house payment, just give me a call so we can talk about all the options you have. ?As always, our talk is strictly confidential.
Other Short Sale Articles:
A New Year of Sacramento Short Sales
How Do I Short Sale My Home
What?s New With Short Sales?
No Short Sale Sellers Do NOT Pay Commissions
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