5 Questions to Ask Your Short Sale Realtor

>>DALE: Hello, this is Dale Snyder with The Snyder Group, here in sunny Las Vegas. First, I'd like to thank you for your time and any potential opportunity that may arise. As everybody's aware of the term short sale has become just common in our marketplace, especially over the last four years. So within that, the average consumer and just the person that you run into the grocery store, for example, is going to be offering advice on short sales. What I found is sense of being confusing for the consumer. So if you're considering a short sale or just want more information on it my suggestion would is to reach out to a few real estate professionals and ask them the advice. But what I've come up with are 5 key questions I think that are important to ask, I'm going to go through the 5 key questions and answer those for you, so here we go. The first question is, "tell me a little bit about your experience in negotiating short sales." I've been negotiating short sales for a little over 4 years. That's when I did my first deal. I didn't have an office manager that help me negotiate. It was pretty much a disaster. You know, the banks won't rally on board with negotiating at the time but they've come along ways for the last 4 years. So I think most importantly my experience is I've been doing it for 4 years like I said with negotiating. I've seen the patterns with the different banks, I've developed relationships with the asset managers, which is very important. We have a foreclosure sale date coming. Being able to reach out to somebody that we know at a bank is just very important to have. The second part of the question would be is, "do you have any testimonials or designations?" You know I have many testimonials. You can go to my website at dale@dalesnyder.net on the bottom right hand side of the homepage you can click through some of my testimonials and ask clients. And I do have the designation that's the CDP, the Certified Distressed Property Expert. I've felt that that really separates me from the average realtor. So I think it's an important question to ask as well. Number 2: "Tell me about your team and how you negotiate your short sales?" Very important question, so my team consists of myself. I'm mostly focused on the listings, and marketing, and selling. I've got an office manager with over 18 years of experience. All she does is negotiate short sales and talk to the banks on a daily basis. We also have buyers agents that specialize only with buyers. Because I'm sure you as a consumer understand, if you need to have your heart looked at you're not going to go to just a general doctor. You're going to go to a cardiologist. Each member of our team specializes in a niche of the business. So you're going to get the best level of service and best advice. Number 3: "How many short sales have we closed and how many are we currently negotiating." You know, this is a very important question what I could tell you about how many I've done and how many we're negotiating but the fact of the matter is it really doesn't matter. What does matters is we have closed many. I don't know how many quite honestly, but we closed at least a few a month. We currently, I don't know, we have a dozen or so in ESCROW that we're currently negotiating, working on. Once again just proving that we know how the course runs. This isn't our first rodeo, so to speak. Question Number 4: "Tell me about the timeline and walk me through the process." I could spend about 20 minutes on this question alone but I want to keep it short and concise. Most importantly, the timeline is going to vary by how many loans you have, your financial hardship, and if you're current on your mortgage or if you're several months behind. This is going to vary drastically. The process really needs to be discussed one-on-one. I don't want to make this video go too long. So if you'd like to discuss this more in depth, please give me a call. But most importantly, you need to make sure you're dealing with a realtor that understands the process and they can pace you on when you have to be out of the home and help get you into another property. It can be a very stressful time especially when you get to that sale date or the home foreclosing. You're going to need professional advice on this. Number 5: "What is your success rate in closing short sales and getting the deficiency released?" Very important question as well. You know, we close about 80%-90% of our short sales. Reason why our success rate is so high because some short sale we just don't take because they're not going to go through. So we're going to screen this, be honest with you and what the odds are of this going through. The deficiency release, that is a very complicated question. It's going to vary drastically on your situation. For example, if you have one loan and you have some sort of legitimate hardship, then 99% of the time we're going to have full deficiency released to you. But most importantly, we've been negotiating for years on this we do have in-house attorneys, support staff that can help us with this and advise you through the process. So in closing, I have a lot of information on the short sale process, frequently asked questions, documents that you need to be signing on my website at dale@dalesnyder.net. So all I can say is in my best advice would be is that these 5 key questions to ask your realtor before short selling your home. Make sure you ask these in sequence and interview a few realtors because you owe it to yourself because it's going to be a stressful and drawn-out process. Thank you for your time and I look forward to any opportunity that may arise.