Short Sale Questions

[SD Realtor]

This post is aimed primarly at the Realtors/Brokers and others involved with short sales. Again, I am but a lowly scrub who just muddles along. I am by no means an expert at anything and I generally learn as I go.

Over the past year I have been more involved with short sales on both sides. What I have seen is absolutely NO motivation on the lenders part to get anything done. In my current experience with 3 offers in on 3 different properties for 3 different clients for short sales, we have had no response for over 7 weeks now on each of them. One of my buyers found another home and we opened and closed escrow on it. The listing agents for these just shrug and say that there is nothing they can do. I also have a short sale listing and we have an offer on it and I am just pulling my hair out dealing with the lender. The department I am dealing with (the lender is Wilshire Credit Corp) is so totally overwhelmed I could not even fax the paperwork in. They have 1 fax line and it is jam packed busy all day. Last week I tried faxing in the docs at like 2 am and it was still busy. I had to fedex the entire package. Which they lost. So I had to fedex it again. The asset manager who I work with has no motivation to even look at things although the trustee sale is 2 weeks away. He is totally sketched out and sounds like he drinks alot of nyquil. It is just staggering. I have another short sale listing coming up down in the south bay and I am trying to condition the seller how bad it will be.

So I am wondering if others here have had to deal with short sales on either side and how that has gone. Jim are you out there? sdrealtor? Rustico?

I know there are proclaimed short sales experts and maybe they have the charm or charisma or whatever. Anyways, if you are a seller or even a buyer and you are working on buying/selling short… have patience and alot of painkillers. It is just insane how woefully understaffed these departments are at the lenders.

[Raybyrnes]

SD Realtor

You might have already thought of this. But have you ever considered just going with a scan to email function so that you can avoid the fax machines. I use to sell the stuff and fax machines are expensive and unreliable. Set up a good document management system and it will be more secure, more reliable, less expensive and easier to send out proposals and documents. You might look into efax.

This doesn’t answer the question as to how to deal with the lender response, but it might be a hell of a lot easier from and office mangement protocol to begin to move into a paperless process.

[Raybyrnes]

SD Realtor

You might have already thought of this. But have you ever considered just going with a scan to email function so that you can avoid the fax machines. I use to sell the stuff and fax machines are expensive and unreliable. Set up a good document management system and it will be more secure, more reliable, less expensive and easier to send out proposals and documents. You might look into efax.

This doesn’t answer the question as to how to deal with the lender response, but it might be a hell of a lot easier from and office mangement protocol to begin to move into a paperless process.

[Raybyrnes]

SD Realtor

You might have already thought of this. But have you ever considered just going with a scan to email function so that you can avoid the fax machines. I use to sell the stuff and fax machines are expensive and unreliable. Set up a good document management system and it will be more secure, more reliable, less expensive and easier to send out proposals and documents. You might look into efax.

This doesn’t answer the question as to how to deal with the lender response, but it might be a hell of a lot easier from and office mangement protocol to begin to move into a paperless process.

[Raybyrnes]

SD Realtor

You might have already thought of this. But have you ever considered just going with a scan to email function so that you can avoid the fax machines. I use to sell the stuff and fax machines are expensive and unreliable. Set up a good document management system and it will be more secure, more reliable, less expensive and easier to send out proposals and documents. You might look into efax.

This doesn’t answer the question as to how to deal with the lender response, but it might be a hell of a lot easier from and office mangement protocol to begin to move into a paperless process.

[Raybyrnes]

SD Realtor

You might have already thought of this. But have you ever considered just going with a scan to email function so that you can avoid the fax machines. I use to sell the stuff and fax machines are expensive and unreliable. Set up a good document management system and it will be more secure, more reliable, less expensive and easier to send out proposals and documents. You might look into efax.

This doesn’t answer the question as to how to deal with the lender response, but it might be a hell of a lot easier from and office mangement protocol to begin to move into a paperless process.

[NotCranky]

I don’t want anything to do with it on the listing side and would only do it if someone said they really wanted me to help.
“Deal” seeking buyers are better off focusing on the REO inventory and any possible motivated seller and lowballing if they can’t wait.I guess if your clients are insisting on offering on short sale stuff you have to do it. Maybe the enviornment for short sales will improve. When it does, the exercise you are getting, will certainly help you.

About the FAX: Did you call and ask for an alternate number?

[NotCranky]

I don’t want anything to do with it on the listing side and would only do it if someone said they really wanted me to help.
“Deal” seeking buyers are better off focusing on the REO inventory and any possible motivated seller and lowballing if they can’t wait.I guess if your clients are insisting on offering on short sale stuff you have to do it. Maybe the enviornment for short sales will improve. When it does, the exercise you are getting, will certainly help you.

About the FAX: Did you call and ask for an alternate number?

[NotCranky]

I don’t want anything to do with it on the listing side and would only do it if someone said they really wanted me to help.
“Deal” seeking buyers are better off focusing on the REO inventory and any possible motivated seller and lowballing if they can’t wait.I guess if your clients are insisting on offering on short sale stuff you have to do it. Maybe the enviornment for short sales will improve. When it does, the exercise you are getting, will certainly help you.

About the FAX: Did you call and ask for an alternate number?

[NotCranky]

I don’t want anything to do with it on the listing side and would only do it if someone said they really wanted me to help.
“Deal” seeking buyers are better off focusing on the REO inventory and any possible motivated seller and lowballing if they can’t wait.I guess if your clients are insisting on offering on short sale stuff you have to do it. Maybe the enviornment for short sales will improve. When it does, the exercise you are getting, will certainly help you.

About the FAX: Did you call and ask for an alternate number?

[NotCranky]

I don’t want anything to do with it on the listing side and would only do it if someone said they really wanted me to help.
“Deal” seeking buyers are better off focusing on the REO inventory and any possible motivated seller and lowballing if they can’t wait.I guess if your clients are insisting on offering on short sale stuff you have to do it. Maybe the enviornment for short sales will improve. When it does, the exercise you are getting, will certainly help you.

About the FAX: Did you call and ask for an alternate number?

[SD Realtor]

Ray –

Are you kidding me? I wish!!

This particular lender (wilshire credit corp) will not accept ANY emails. I tried that way back when with them.

I use myfax. It blows away efax.

SD Realtor

[SD Realtor]

Ray –

Are you kidding me? I wish!!

This particular lender (wilshire credit corp) will not accept ANY emails. I tried that way back when with them.

I use myfax. It blows away efax.

SD Realtor

[SD Realtor]

Ray –

Are you kidding me? I wish!!

This particular lender (wilshire credit corp) will not accept ANY emails. I tried that way back when with them.

I use myfax. It blows away efax.

SD Realtor

[SD Realtor]

Ray –

Are you kidding me? I wish!!

This particular lender (wilshire credit corp) will not accept ANY emails. I tried that way back when with them.

I use myfax. It blows away efax.

SD Realtor

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