SD R, I suspect they are the exception rather than the rule but I have a couple dozen of them that seem to be exceptions. Every one of them that i have seems to be an exception.
Being experienced and competent as a Realtor does not necessarily equate to be so with short sales. A year ago, I figured out that this business would be all about short sales and REO’s for a few years and sought to capitalize on it. I spoke with many people and figured out how to streamline the process and build something that could scale up. I left a big brokerage because the process would not work in that environment. I have dealth with many negotiators and lenders already. Across the team of people I have assembled to assist me, we have done over a hundred short sales with just about every lender and every combination of lenders. Before we even submit the offer, they tell me how it will likely proceed and generally are spot on. What we do isnt rocket science. I just modelled my short sale business after the way the best REO guy I know conducts his business. Anyone with half a brain who took the time to figure all this out could do what I’m doing and I’m surprised more arent.
As for the depth of information they request, I have worked with every major lender out there and have found that sellers can provide limited information without being dishonest and not get asked for more indepth information. It has happened over and over again. I’m surprised they arent more rigorous in their reviews.
