Santa Clara County Short Sale: Wells Fargo is OK!

I have a listing for a beautiful home in Gilroy as a short sale. Indymac approved the short sell off of the first through their 3rd party negotiator Service Link.  Wells Fargo has had the file for 3 1/2 weeks now and the negotiator has said it looks fine with him and will recommend the upper management approve the short payoff with the 10% of the loan balance the first has offered.  He is not asking for a seller contribution or a deficiency judgment.  The upper management still needs to approve but he said it is incredibly unlikely they will go against his recommendation. So why do I think I was successful so far on this one.

It is not rocket science but there is a method to my madness:

1. First and foremost it is in the best interests of the banks/investors right now to approve this short sale.  If it wasn't I really do not believe there is much I could do to make it happen. i also believe it is often in their best interests so it is a great idea to try and not just let a house go to foreclosure.

2. I read the instructions, many times.  The banks and servicers tell me what they want to have submitted and I provide what they need.  When they lose it I re-submit and do not make a stink.  I check 24 hours after submittal to make sure they received everything. Wells Fargo will even check the file when you call and stay on hold while they check.

3. I am nice to people. It does not help the process in my opinion, if I yell and huff and puff. We are all trying to do a job here, and that is for me to help people in a bad situation and for the banks or servicers to get as much money re-couped for the bank.  In the case of a short sale those goals are usually in sync with each other. so if we take the attitude that I can help them and they can help me it is much easier and more fun to negotiate.

4. Wells Fargo kept this home equity line in house and did not sell it to an investor. My experience has been that dealing directly with a bank is easier than dealing with a third party investor.

So if you have a home in Santa Santa Clara or San Mateo Counties that you need to short sell, call, e-mail, or text and let mw show you how I can help.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales

Indymac/Service Link Very Quick Short Sale Approval

I have a short sale listing in Gilroy which had an offer accepted by the seller at the beginning of December.  All of the paperwork was forwarded to Indymac who had it for about 2 1/2 weeks and then gave to Service Link for negotiation.  By then it was Christmas Week.  A negotiator was assigned who contacted me the first week of Jan.  I got approval, at purchase price, on Jan 10th. That was fast! There were no special tricks I used other than the way I handle all of my short sales.

1. A realistic, but still a good purchase price, not too high, not too low, but on the lower end of market value.

2. All the documentation was submitted at one time and the documents were tripled checked to make sure everything was there.

3. The sellers provided every single financial document that was required.

4. I followed up to make sure everything was in order and received by Service Link.

This is my first short sale with Service Link, who has just recently ramped up their short sale department.

I am now officially an Indymac/Servive Link short sale fan.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales