Judy’s Eight Short Sales

I have 8 homes needing to be short sold. How do you have time to help? You must be over loaded. I need real help. I need lots of advice. H E L P!!!

Judy

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Hi Judy,

I can give you all of the free advice you desire, so simply ask away and I’ll type an answer. 

And you are correct, I have a personal limit, but it has to do with the number of properties owned by one borrower and not (necessarily) the time involved.  I have a team of short sale professionals, so time is a non-issue; however, my personal limit for any one borrower is four properties owned.  That may be three short sales with one primary residence retained by the homeowner or it may be four short sales.

My rationale for limiting short sales to a total of four is two fold.  First, we want to enter into these with the goal of obtaining a full remedy release for the borrower.  The odds of obtaining a full release of liability on more than four properties for the same borrower are slim.  And secondly, there is no diversity in working numerous files for one borrower. 

I don’t know if I jumped to conclusions with the eight short sales that you have.  It might be that you are a real estate listing agent representing other sellers on these eight transactions and if that is the case then, let’s talk!  Otherwise, closing eight short sales successfully with full release of liability on all eight is possible; but you will be best suited by orchestrating that with a different buyer than yours truly. 

Thanks for the questions and let’s chronicle your experience on the blog.

Paul