Trent Chapman Talks Concerning Escalation
Short Sale Power Hour is thrilled to welcome Trent Chapman, Short Sale Genius, back to the episode. Trent has spent a great deal of time instructing agents how to escalate. He offers a form letter on his website, theshortsalegenius.com, to provide people an illustration of how to impart the escalation message to the bank. Basically, it gives a general script as to how you can explain that the short sale is better than foreclosure.
Unfortunately, since too many people have simply copied and pasted the file, Matt Vernon may have a problem with it. For persons that do not know, Matt Vernon is a VIP at Bank of America. So, Trent will be contacting Matt Vernon to discuss the escalation letter.
The thought behind the letter is that Trent needs to help agents in knowing how to escalate. When you are addressing somebody that is higher up in the lender, you want to make the account as short as feasible. We recommend that you tell them the following. This is the property. It has been on the market for ‘x’ days. We have a bid. It’s full market value. Here is the fair market value based on these comps. Then you give them the figures. With a short sale, you will obtain this much money and if this forecloses, you will obtain this much money. That is the gist of the email.
Escalation done correctly can make the short sale process move more smoothly. Furthermore, the bank will unknowingly appreciate the fact that you have the information showing why it is in their best interest to approve a short sale. Check out Trent’s website for the complete script to use in your escalations.
Get powered up by Kevin and Fred at Short Sale Power Hour by the Short Sale Specialists of Arizona
Filed under Foreclosures by .