GMAC Short Sale Practice Improving
Often times we chuckle during this show, but we have to keep a upbeat attitude because reflects on our company and we need to keep that encouraging attitude to deal with the bank and get short sales completed rapidly. So, although we have to be hard with them, we try to uphold a optimistic attitude.
This is true with GMAC, which is our new favorite lender after venting yesterday in relation to Wells Fargo. GMAC is utilizing Equator which is a short sale folder management system which helps dialogue between us and the lender. It is incredibly helpful. We are working on a file that is moving as fast as we have ever seen. They did send us a counter offer that was a speck high, but in general, GMAC has been awfully easy to deal with. We had the property listed at that price for close to a month. So, at the moment we do love GMAC. We just want you to realize that there are positive things happening at the bank.
When we acquire an offer that nets them a decent percentage of what they are losing we have a improved likelihood at completing the folder. If you are an agent, one of the most essential things is to find out is what the BPO comes in at. They have been telling realtors the percentages that they are trying to net lately. So, if you recognize the BPO and you know what percentage the bank is attempting to get back, you will be in front of the game. You will also know whether you need to dispute the folder and get it closed in a timely manner.
Thank you for tuning in to Short Sale Shift. If you have a house that you would like to short sale in Minnesota, please don’t hesitate to e-mail us today.
Get more help from short sale Realtors, Josh and Sarah, at Short Sale Shift presented by the Short Sale Specialists of Minnesota
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