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| To help pre-foreclosure investors multiply profits by providing hands-off, experienced debt negotiation services along with funding for closings all in one place. |
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It is largely dependent on the condition and attractiveness of the property. We are experts at using negotiation techniques to achieve the lowest possible discount; however, below is a list of general guidelines:
- The typical discount on a home in great condition and in a good location (a "pretty" house) is 10% to 15% of current value.
- 15% to 30% discounts can be achieved on properties with a marginal level of repairs or problems.
- Discounts of greater than 30% can be achieved on "ugly houses" with the proper justification. We have achieved discounts ranging from 20% to 60% of the ARV (after repair value) on ugly houses.
NOTE: These are only general guidelines. Every Short Sale is different and there are many factors involved which determine the discount that we can obtain. Some factors we can control or impact and others we can't. |
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- The Service: The ability to send in completed short sale packages for negotiation by our trained debt negotiators.
- The Online Track System: This online system will allow you to view your deals as they progress. Every time a phone call is made, a fax is sent, or an offer is accepted, you will know about it.
- Documents: You will receive coaching and support on all documents you need in order to submit deals to us.
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| No. Your membership only allows you to submit deals. Anyone who is found to have other people besides themselves and those in their business submitting deals under their account will instantly lose all account privileges, and work on all deals in the pipeline will be stopped. |
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| Yes, we will negotiate other liens. |
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| We try not to cite a specific number or percentage. As anyone who has done Short Sales will tell you, it can be very hit or miss. Short Sales can create huge profits with great discounts. But sometimes, no matter how much sense it makes for the banks to work with us, they won't. Limiting the types of deals we accept increases our rate of success, but there's no guarantee. |
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| The process extends from the time we receive your complete Short Sale package until the time you close the deal. Although we greatly influence this process, there are too many moving parts and variables, as well as a great dependency on the lender, to be able to make any definite promises. In the past, this process has taken anywhere from two to eight months, and your deal could fall anywhere in between. You should not promise any particular time frames to your seller, nor should you expect them yourself. |
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Below is a list of commonly used exit strategies:
- "Flip" the property - Make repairs and immediately sell it for profit.
- Hold as a rental property - Create rental income.
- Lease Purchase the property - Find a renter who can qualify to purchase the property six months to a year later.
- Simultaneous Closing - The property is purchased by you and sold to another buyer simultaneously. The difference between the Short Sale price and the price to your buyer is your profit. This is the most difficult exit strategy to achieve. We do not help you find a buyer for simultaneous closings. It is up to you to find the buyer.
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- Do marketing for pre-foreclosure prospects
- Screen prospects to assure minimum requirements are met.
- Manage the homeowner's expectations.
- Manage the Realtor's expectations, if the property is listed.
- Collect the paperwork and our agreements from property owner and/or realtor.
- Submit the paperwork and our agreements from property owner and/or realtor.
- Get a title report.
- Get comps to send in with deal.
- Find an inspector to get a repair list and send us justification for the short sale (repair estimates, photos showing repairs, etc.).
- Meet the BPO / appraisal agent and influence the outcome with the appropriate variables.
- Figure out your exit strategy.
- Find a closing company.
- Close the deal.
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- Decide if the deal qualifies.
- Forward to negotiation team who will:
- Submit short sale package to lender.
- Handle all communication with the lender.
- Send all faxes to the lender.
- Request for a BPO.
- Review the offer and schedule BPOs for the property.
- Negotiate with the lender using our proven techniques.
- Negotiate any junior liens.
- Note all activity in the online tracking system.
- Get an approval letter.
- Help you get closing instructions over to your title company or closing agent.
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Here is a list of suggested acceptable property characteristics when buying short sales for with the plan to do a back to back closing.:
- Seller is motivated and happy to walk away without cash from your purchase, knowing you
intend to profit.
- Property is at the right price for transactional funding to take place. In other words, property can be sold quickly at price not lower than FHA requirements for your area.
- Seller is willing to provide all paperwork as needed
- eller is willing to allow you to show and sell the property while short sale is being negotiated.
- Property owner has acknowledged in writing that they are going to allow their property to go to foreclosure and have no intentions or resources to prevent this from occurring
- Property package must be submitted at least 15 days before the foreclosure sale date.
- Property Owner has stopped making payments and has no plans to ever begin making payments
- Property owner must be a minimum of 30 days in arrears on their mortgage
- Dated Ameneties ok
- Some landscaping work ok
- Some minor repairs ok
- A plus if been on the market longer than 180 days
- A plus if properties within 1 mile are pricing at a mix of high and low comps.
Stay away from:
- No "junkers", marginal properties needing too many repairs.(hard to sell).
- Low Ceilings.
- Unusual floor plans
- Largest Home in the neighborhood – may work against you for bpo.
- Black Mold.
- Sex Offender List – will affect mitigators opinion.
- Police Reports – will affect mitigators opinion.
- Non-permitted additions.
- No bank owned REO's.
- Property cannot be an incomplete, new construction homes without final certificate of occupancy.
- Avoid condos or townhomes - harder to sell. HOA fees.
- Prefer property is not in active bankruptcy.
- If the client is in bankruptcy, we must receive a dismissal letter or proof of discharge before negotiating the Short Sale.
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| Not right now. Just focusing on single family homes. |
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| You can get our opinion on what route to take or you can decide to negotiate the deal yourself. |
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| If we don't come to an agreement with the offer amount, you have two choices. You can do nothing and will not incur a fee, or you can choose to go with the offer amount we were able to get and pay the Approval Fee. For instance, if you have a house that you wanted for $200,000, but we were only able to get the bank to accept $210,000, you have to decide if you want to move forward or not. |
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| Yes and no. We will try to have an IRS lien removed or released from a property. |
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| Yes, we can do deals all over the country. However, depending on the state you live in, certain procedures may differ. There are judicial states and non-judicial states. These differences change the time frames of the whole foreclosure process from start to finish. |
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| If it is not closing due to an error on your part, you will NOT be charged a fee. This will be clearly laid out in your signed paperwork. |
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| We make no guarantees. Although we are very confident that we have the best Short Sale debt negotiation in the industry, there are many variables. Many of them are out of our control, and some are even based on your abilities, including influencing the BPO and closing. |
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| The tracking system allows you to view all activity related to your deals. Simply by signing into the system, you will know the status of your deals without needing to pick up the phone, send emails, etc. It also allows you to interact directly with the Short Sale negotiator handling your deals by allowing you to enter notes and comments into the system. If you are comparison shopping for a Short Sale negotiation company, our tracking system should be a key factor in your decision. Without a tracking system, you have no way of knowing if your deals are actually being worked or if a valid attempt is being made to get your deals approved! |
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| The tracking system is a real-time system and is updated immediately after a new action occurs. Notes containing new activity will be available online for your immediate viewing. |
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| No. If you can check email, you have the skills to be able to do everything with us online. |
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| All of the variables are in place to build wealth using Short Sales as an investment method. The foreclosure rates are at all time highs nationwide and the lenders are taking a major beating right now. |
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- Read all of our FAQs.
- Sign our Membership agreement.
- Get to work finding deals and making money!
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| Click Here to see fee structure. |
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| No. |
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If you are unfamiliar with Short Sales, we have materials and an instructional course that we suggest you take advantage of. Go here to sign up for Coaching U2 Profits Your Way.
A "Short Sale" is a negotiated real estate transaction in which the proceeds from the sale are insufficient to satisfy the liens on the property. The lien holders (usually mortgage companies) agree to accept less than what they are contractually due to facilitate a pre-foreclosure sale. |
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| We believe that once your Short Sale pipeline is full, you can expect consistent monthly, and sometimes weekly, closings. However, it can take months to get to this point. We can speed up the process a lot faster than most people trying to do it themselves, but there is still no guarantee. |
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- Our team of negotiators consists of former loss mitigators with 25 years of experience working for lenders on the national level. We know what the lenders expect and the techniques used to get Short Sales approved for the lowest purchase price.
- Our negotiators are dedicated and this is all they do. Most investors do not have the time to properly handle a Short Sale. It involves lots of follow up, phone time, and being available when the lenders contact you.
- Successfully negotiating Short Sales takes an aggressive personality which most people do not have. Our negotiators are aggressive and know how to get through the many obstacles placed in the way of getting a Short Sale approved.
- We are organized and use technology to appropriately track all deals.
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| We have an excellent Referral Affiliate program. For more information, click here. |
