Short Sale Companies that negotiate for you

[ISellRiverview]

Does anyone use one of those companies that are popping up that do short sale negotiations for the agent? Have they been successful? I am curious about them as I have 4 short sales right now, and only 1 of them was I able to get a preapproved listing price on. I am wondering if going forward I should hire one of these companies, but who pays their fee? And do they work? Can they get a short sale to closing faster than I can?

[Nola Realty]

A lot of red tape and time for the short sale business. I know that short sales are very productive when accomplished, however, never heard of companies negotiating for agents.

I really don't like anyone negotiating my transactions. Seems like if this is done, could lead to problems on he said she said type mistakes. Just my thoughts, though.......

[DMG]

ISellRiverview, as you may have seen on the net there are a ton of companies that do this, I tried one last year (because my seller was related to someone at the company and on and on...) in the end it got done but as
Stated

I really don't like anyone negotiating my transactions.

already that's how I felt. I was not kept up and felt pretty helpless to say the least. From what I could tell they do what we do, call, wait, call, wait, etc. If you’re going the short sale route, I would do it yourself, IMO.

[gregharaksin]

Quote:
I really don't like anyone negotiating my transactions.

already that's how I felt. I was not kept up and felt pretty helpless to say the least. From what I could tell they do what we do, call, wait, call, wait, etc. If you’re going the short sale route, I would do it yourself, IMO.

Yep, instead of constantly calling the bank, you end up constantly calling the short sale company. They can be just another roadblock.


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[Jason Painter]

I get short sale companies that call me all the time wanting me to list the property for them and let them negotiate it. Then these guys want a cut of my commission...plus many charge an up front fee to the seller for their "service." I have dealt with several of these companies in the past and they are absolutely horrible. I now tell them all to get lost.

[Calum]

Liane,

We work with a title company and let them handle the mitigation with the bank. We still market the property and assist the Seller with negotiating a contract, but once we have a contract we hand it over to the title company and let them work with the bank. We still work closely with the title company to monitor the progress and assist with other details, but we rather let them deal with the banks. This doesn't necessarily guarantee an easier transaction, it's still a short sale ,but it can save you some headaches.

We use Alday Donalson here in New Tampa and they're fantastic!! I'm not sure if they have an office in Riverview, but I know they have multiple offices in Tampa Bay. Their New Tampa office is great and I can't say enough good about them. PM me if you'd like more info.

Calum

[ISellRiverview]

I am hearing now that my own title company somewhat handles short sales. I guess what I am struggling with is getting a contact at the banks before I have a contract, and trying to get a pre-approved list price. I know some banks will approve a certain number and that's what I'm looking for...someone to get us to that point...but it may just have to be me.

[Discover Davis Homes]

Liane, very few banks are going to preapprove a short sale. Without a contract banks will tell you there is nothing to negotiate. The best thing you can do is to try and prequalify your sellers and make sure you have a complete package before taking the listing. You can PM me for a company that I'm working with locally in California but I don't know if they are doing negotiations in other states (they are extremely familiar with the foreclosure process in California). I don't want to post publicly because I'm not sure they would be able to handle the volume from the forum.