freds presentation realtor
DESCRIPTION
Do you have properties listed that you know you will never sell? Are you frustrated that you have been spending time and money on a no win situation. Have you tried to negotiate a short sale and it has taken the bank 3 months to get back to you with an answer and by the time you get an answer your buyer is long gone? Well let The Heathrow Group help you help your sellers get out of a potential disaster and let us help you make a commission in one of the most difficult real estate markets ever.TRANSCRIPT
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Introduction to Short Sales
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“A short sale occurs when the proceeds of a real estate sale fall short of the balance that is owed on the property”
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• Lenders are in the business to loan money, not own real estate.
• If the lender forecloses, the valueof the loan contributes to their insolvency.
• The Short Sale offer is equal to orgreater than what a lender can expect to gain by foreclosing or selling the property.
• Property has been left in an “unsellable condition” by the seller.
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Current Market
• How many Agents have Short Sales?
• How many Agents have Walked Awayfrom short sale listings?
• How many Agents have Successfully Negotiated and Closed a Short Sale?
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Did You Know?
• Average Broker or Agent closes 10% of the Short Sales that they attempt.
• Foreclosures are at an all time High!
• 50% of all Homes sold will be sold as aShort Sale
• If you are not working with Short Sales,you are missing at least 50% of the market.
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Who We Are
• We are a professional short sale management group that manages an exclusive team of short sale experts.
• Our Team has been negotiating Short Sales for over 4 years and have completed over 300 transactions.
• Our Goal is to Create a WIN-WIN-WIN • Homeowners avoid Foreclosure• Lender liquidates their non-performing assets.• You get paid your full commission without negotiating
the short sale helping the homeowners avoidforeclosure creating more referrals for you.
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Properties that are priced properly will sell faster.
Seller avoids foreclosure on their credit.
Establishes you as the Solution Provider
Seller will refer other Clients to you.
You provide value to your buyers.
Generates income stream in a slow market.
Helps Stimulate the Economy
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Turn them down becausethey won’t sell
List the house at a price that is too high to cover all payoffs and closing costs
List them as Short Sales and do the negotiations yourself wasting your time.
Outsource your Short Sale Negotiations to the Experts and create extra income without extra work.
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How to get your short sale assigned to a mitigator immediately.
What a bank mitigator looks for in a short sale package and why they will put it on the bottom of his file if he doesn’t like what he sees.
How to negotiate with lenders depending on what type of loan the seller has.
How the 1099 and IRS Form 982 work together
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How to negotiate Fannie Mae, Freddie Mac, FHA. VA, USDA and Conventional mortgages with Private Mortgage Insurance.
How to get Junior lenders and IRS liens released from the property.
How to get the deal done when a lender wants your seller to sign a promissory note or deficiency judgment
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How to get the bank to approve every file by getting the BPO value on the property where they need to see it.
How to present the short sale package to the bank so they not only review it fast but approve it.
How to structure the deal when the lender says that all junior lien holders can only get $1000-$3000
If you don’t know this information, 90% of your deals will be declined and you will waste your time.
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GUARANTEE your commissions on short sale transactions upon closing
Give you back the time you would spend working on short sales
Solve your clients’ current foreclosure issues which could enable you to work with them in the future
Provide a Safety Net so your short sale doesn’t hit any landmines during the process
Eliminate the costly and time consuming learning curve of negotiating short sales like the pros.
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Actual Case Studies
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Lien Amount Payoff
1st Mortgage $264,135.00 $130,000
HOA Lien 0 0
Contractors Liens 0 0
IRS Liens 0 0
Total 264,135.00 $130,000
Total Discount 134,135.00
Realtor Commission $7,800
Commission without us 0
Case Study
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Lien Amount Payoff
1st Mortgage $2,133,370.52 $940,578.76
Total $2,133,370.52 $940,578376
Total Discount $1,192,791.76
Realtor Commission
$53,000
Commissionwithout us
0
Case Study
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Part 3
Team Up with Us!
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You provide The Heathrow Group introduction to seller/client
We meet with your seller and take care of all paperwork
We build the case for negotiation
We submit the offer(s) to the lender(s)
We negotiate a settlement with the lender(s)
We pay off lender(s) and close with the buyer
Title Company pays you Your Commission
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A cordial introduction to the seller is essential to our success for you
When speaking with the seller, keep your conversation general
Answer the questions that you feel comfortable answering but defer the rest to us (this gives us a reason to meet with seller)
Highlight the fact that you have aligned yourself with a company that specializes in short sales
The initial conversation can take place on the phone or in person
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We will discuss the entire process with the seller
We will verify that we have addressed all of their questions and concerns
They can seek separate legal counsel or we can provide them with ours.
We will collect all of the short sale paperwork from the sellers
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Comparables
Inspection Report
Inspection Estimate
Sellers Hardship
Sexual Predators
Local Articles
Days on the market
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Mortgages, HELOC, HOA, IRS, contractors
Request Full Satisfaction of Liens
Provide appropriate verbiage for the MLS
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You get your Full Commission and our team does all the mitigation work
You avoid wasting your time negotiating with banks (This is not the best use of your time)
You get an immediate offer on the property allowing us to start the short sale process NOW
You can avoid all of the Short Sale Process Pitfalls because we know all of them.
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You can Earn your Full Commissions +
Potential of up to 7% in Commissions:
◦ *3% for Initial Listing
◦ *1% for 2nd listing
◦ *3% as Buyers Agent
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We get paid when the property is sold. Either to our investment group or to a market buyer.
You get paid when our investment group buys the property & when they resell the house.
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If you have questions that you would like to discuss or a property that you would like to submit please contact me at:
Fred W. Price7575 Dr. Phillips BL Ste 270 Orlando, FL 32819Phone [email protected]