Not All Kansas City Realtors Know How To Negotiate a Short Sale
A few months ago I assisted one of my sellers in a real estate contract. My seller was in a short sale position so I took my time negotiating with the buyer's agent. I explained to the buyer's agent the path I would take with the seller's lender and how long it would take to negotiate with the bank. I explained that I'm not a rookie and my business partner and I have successfully negotiated many short sales. I explained that it would take at minimum 30 days to hear back from the seller's lender. The buyer's agent and buyer decided that the savings that they were getting would be well worth it.
Three days after agreeing to a contract the buyer's agent sent me an email that they wanted to change the terms of the contract. I notified the buyer's agent that I have already sent the file into the seller's lender. The buyer's agent became agitated and said that the buyer would back out unless we agreed to new terms, including closing earlier. I informed the buyer's agent that this was one of the things that I explained at the beginning that banks do not like to do.
My seller agreed to the new terms and I sent the updated file into the seller's lender. Everyday afterwards I received a phone call from the buyer's agent demanding a response from the bank and that I needed to call them everyday. I told the buyer's agent that I could not call the bank everyday. A week later, the buyer's agent sent me a signed cancellation. My seller signed and three days later we sold the home to another buyer and had the transaction closed in 40 days.
The funny thing happened this week. The buyer's agent from this transaction called to write another offer on another short sale listing. They deeply apologized for their ignorance from the previous transaction and found out through a two hour seminar that I knew what I was doing. Matter a fact, the buyer's agent mentioned that the person who conducted the seminar mentioned that they learned how to negotiate short sales and redemption sales from me. When I asked who conducted the seminar, the buyer's agent mentioned a name that I was not familiar with.
Out of the many short sales and redemption sales that we negotiate, the Dowell Taggart Team finds that most Kansas City Realtors know how to write real estate contracts, but few know how to negotiate a short sale or redemption sale. Matter a fact, we find that most Kansas City Realtors do not know what is a redemption sale.
If you need to sell your home and you owe more then what it is worth, contact the Dowell Taggart Team. We are Loss Mitigation Consultants and Realtors who know how to negotiate short sales. We negotiate short sales and redemption sales in Gardner, Olathe, Overland Park, Lenexa, Leawood, Shawnee, Roeland Park, Prairie Village, Mission and the remaining cities in Johnson County, Kansas.
Information provided by: The Dowell Taggart Team of Infinity Realty Dowell Taggart Team of Infinity Realty
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