Rick Smith Associate Broker, COO

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The Frustration of a Short Sale Negotiation

If you are preparing to start a short sale negotiation with a banker just make sure you know what you’re doing. A short sale negotiation needs nerves of steel and the patience of a monk. It can well turn out to be the most frustrating experience you’ve ever had, where the average person will give up in disgust.

Often times listing agents under list the property in hopes of a quick sale.  However Lenders do Appraisals and/or Broker Price Opinions to determine Fair Market Value of every home in the Short Sale Process.  Setting an asking price lower than market value causes delays, asks buyers to pay more than they anticipated midway through the deal and most often results in the transaction falling apart, leaving the seller to start all over again.  By the time you’re halfway through the loss mitigation department, your starting point; your blood pressure would have shot up a few points. Every time you speak with them you’ll be talking with someone new who’ll start with a new angle. No matter how skilled a negotiator you might be, a short sale negotiation is a test of anger management. Given this fact, you’re better off with a skilled short sale negotiator who’ll be able to steer your case through the minefield of banker negotiations.

In the Bay Area you have Rick Smith, a veteran of short sale negotiations. He knows whom to talk to, what you need to do and how to go about doing it. He’s been long enough in the game to know which strings to pull and when. So do yourself a favor and call him at 408.482.0539. If there’s something you want to know about short sales you’ll find most of the answers on his website http://www.buyshortsalehomes.net/. Need more assistance? Rick Smith’s always there for you.