In Short Sales, Sunlight Is the Best Disinfectant

By
Real Estate Broker/Owner with Broadpoint Properties Cal BRE #01324959

 

Short SalesI think it was Louis Brandeis who said, “Sunlight is the best disinfectant”—a statement that refers to the benefits of openness, transparency, and the quest for knowledge. Clearly, there is no place where this saying is more important than in the field of real estate in 2011.

In the crazy distressed property market, rules, policies, and systems are constantly in a state of flux. There is a vast amount of information that is required in order to effectively represent a client in a short sale transaction. Openness, transparency and the quest for knowledge are all important components of a transaction. People often contact me in order to consult on a specific situation, and often the solution or course of action is very complicated. 

Sometimes, since short sales can be very tricky, it’s nice to touch base with another experienced agent about the appropriate course of action. Should the client apply for HAFA or HAMP? Will the client be eligible for the Bank of America Cooperative Short Sale Program? Will Wills Fargo agree to waive the deficiency balance? 

The good news is that we have provided you with lots of sunlight. We’ve brought you this sunlight in the form of downloadable documentation that you can take with you on short sale listing appointments or show to clients if they have questions or concerns. 

Here are a few items that may help you: 

Comparison of Short Sale and Foreclosure

Overview of Bank of America Cooperative Short Sale

HAFA Short Sale Summary

HAFA Eligibility Questionnaire for Listing Appointments

Fannie Mae Loan Lookup Tool

Freddie Mac Loan Lookup Tool

Download ‘em, check ‘em out, and hopefully they will help you as you move forward with your next short sale transaction. And, if you like sunlight, you can always come visit us at our office in San Diego County.

 

Photo: flickr creative commons by majsicmtc

 

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Rainer
145,246
Sarasota & Manatee Counties FL
SaraMana Properties - QuickFreeMLS.com - Bradenton, FL
QuickFreeMLS.com - Listings In Paradise

Excellent blog post for those looking for expert assistance! Keep up the good work!

May 08, 2011 05:13 PM #1
Rainmaker
136,208
Steve Stenros
Poway,La Jolla,Del Mar,Mira Mesa,Carlsbad,Escondido,Temecula - San Diego, CA
CREIA MCI, ICC, Home Inspector,San Diego

Thanks for your article explaining the benefits of sunlight, Melissa!  Openness, transparency, and the quest for knowledge are always healthy for you!

May 08, 2011 05:27 PM #2
Rainmaker
520,751
Mary Douglas
United Country Ponderosa Realty - Red Feather Lakes, CO
REALTOR, Red Feather Lakes, Colorado

Thank you for sharing the sunlight Melissa.  I love the photo that you used in your post too!  Happy Mother's Day.

May 08, 2011 06:20 PM #3
Ambassador
1,873,165
Jeff Dowler CRS
Solutions Real Estate - Carlsbad, CA
Carlsbad CA Homes for Sale (760) 840-1360

Melissa

This is a wonderful analogy, and so true. YOU bring many rays of sunshine to the short sale world.

Thanks for sharing such useful links - many will benefit from these.

HAPPY MOTHER'S DAY!!

Jeff

May 08, 2011 08:09 PM #4
Rainmaker
1,264,580
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Melissa - What great information to share with everyone.  Hope you had a Happy Mother's Day!

May 09, 2011 11:47 AM #5
Rainmaker
457,556
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
Destin FL Real Estate
Melissa - I like your spirit of sharing your knowledge. It helps agents in your market, and across the country.
May 09, 2011 06:26 PM #6
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Melissa Zavala

Broker, Escondido Real Estate, San Diego County
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