Short Sales
What is a Short Sale?
A Short Sale is when a Lender is willing to take less than payoff as payment in full. Lenders refer to this as “selling their mortgage short”, hence the name, Short Sale.
Why Do Lenders Accept Short Sales?
Lenders accept short sales because it actually costs Lenders far more to take the property back through foreclosure than to accept a short sale prior to foreclosure. Therefore, Lenders much prefer to deal with real estate investors and agents who understand short sales than to foreclose on a property.
Why Short Sales?
The Wall Street Journal reported that 20% of all real estate closings in this country involve a short sale. Further, the recent statistic shows that some 20 million borrowers are upside down on their homes. Our research confirms that less than 5% of all real estate agents and investors are actually closing these short sale deals. This illustrates that a small percentage of investors and agents out there who know how to close short sales are making an absolute fortune right now (ourselves and our students among them).
Why Aren’t More People Closing Short Sales?
Most investors and agents are not taking advantage of the fastest growing segment of the real estate industry (short sales) because they do not have the tools and have not been properly trained on the detailed processes and specific knowledge required to actually complete a successful short sale in today’s market. Literally hundreds of thousands of potential short sale opportunities are wasted every month due to the lack of knowledge. Lenders are currently bombarded with requests and purchase offers from inexperienced agents and investors. Most of these offers usually never result in a deal. Short sales are impossible for those who do not know what they are doing. But for people who have been trained, there is a tremendous amount of profits available. You can make the current real estate market work to your advantage. You can learn how to make a fortune with short sales while the national news media actually helps you by telling everyone to stay away from real estate!