Posted By PremierLots on November 18, 2009

Greetings all!

I felt inspired to write this article after our broker informed us this morning at our sales meeting that there is a man running around the Bellevue/Seattle area hiking up the fee’s of short sale transactions.

Specifically, something to the tune of him making $39,000 profit at the buyers expense.
This is ludicrous and must be stopped.

Please, educate yourself and anyone else you may know that is facing a pre-foreclosure/short sale situation. While, there are several legitimate short sale negotiation companies that require a fee, the fee can be covered by the bank/seller. In most cases, the buyer won’t even have to come out of pocket at all!

If you are a buyer considering a short sale property- you need to find out who’s negotiating this short sale and check their credentials! Protect yourself by working with people who have a track record of proven success and a positive repuation in the community. Start asking around and it won’t take long to figure out who the sharks are.

If you are a homeowner and need to get your home sold, you need to make sure any realtor and/or negotiation company that you work with is ethical and experienced. Don’t just let your realtor make all of the decisions, you can control who you want to negotiate your short sale. If you don’t do your homework you could end up paying bogus fees. It’s never good to be ripped off, but it’s especially painful tot be ripped off when you’re already facing a short sale! It’s not right, but it happens. If you are a homeowner, the short sale should not cost you anything and your Realtor will still be happy to work with you because they should be getting paid 100% of their commission! Key word here, SHOULD. These things should be happening, but are they? Ask the right questions.

If you use a company that is illegitimate you risk having your home sold properly. Without a proper closing you are going to face a foreclosure. You know, the whole reason you tried the short sale in the first place! Chances are you have been working hard, preparing documents and taking time to make calls, all to protect you and your credit from a foreclosure. One of the only ways this can happen is if your home is successfully sold as a short sale.

Don’t let your short sale efforts go to waste. Work with top industry professionals, see our short sale solution. Hope this helps anyone in jeopardy of the thieves out there looking to make a quick buck in this difficult economy. Best of luck to you, until next time.

Categories: Foreclosures, Loan Modifications, Modify, Short Sales, mortgage payments, payments, pre-foreclosure
Tags: east side, foreclosure, Loan Modifications, preforeclosure, Short Sales