What is the First Key to a Successful Short Sale?
Short sales can be tough, especially when you don’t even know what it takes to succeed in this business. As you may already know we’ve been in the Foreclosure and Short Sale business for over two years now. After working on over 100 Short Sale files we’ve figured out the 7 Key Elements to Successful Short Sales.
In this post I’d like to share the first key element to a successful short sale.
Qualify Your Prospects
Simple, isn’t it? Yet I see so many people forgetting this over and over again. If you haven’t looked at the stats, foreclosures are up 65% from last year. This means that you will have a ton of properties to chose from, so you better figure out how to filter the good deals from the mediocre ones quickly.
One of the techniques we use for screening candidates is a pre-appointment checklist. This will save you gas, time, and headaches. Click this link to read more:
The second thing to consider when qualifying your prospects is the actual property. Is the property worth less than is owed on it? If it’s not, then it better need a lot of repairs or you may be wasting your time.
To get the next installment of “The 7 Key Elements to Successful Short Sales” as soon as I publish it,
I agree, I make sure they are ideal candidates for a short sale before I meet them. I tell them to have all the documentation ready for me before I even get there. I get in, get out and get started!
Jon Christopher
June 12, 2008
Excellent advice. Why waste your time, money, and gas if you don’t have to? It is so easy to verify a lot of the info online and over the phone. I’m looking forward to your future posts.
Rob Arnold
June 18, 2008
[...] Read the first installment of “The 7 Key Elements to Successful Short Sales” by clicking here. [...]
What is the Second key to a successful Short Sale? « El Numero Juan Blog
August 21, 2008