The Short Sale Myth
The bank will never accept an offer if the person your agent negotiated with at the bank turned it down.
More often than not, the person you’re agent is speaking with at the bank is a lower-level paper-pusher. They don’t really care about the loss the bank stands to take because it’s not their money. They probably don’t care one way or another about your offer because they’re being paid by the hour or are on salary and if the bank loses more money because of their bad decision, it does not affect their paycheck on Friday. They can’t think outside the specific guidelines they’ve been instructed to follow by their boss.
If your offer gets turned down, and you know it was a good offer, or at least a better option for the bank than foreclosure, then most likely it’s not the bank turning down the offer, but rather the paper pusher you were dealing with.
Instead of having your agent submit a new offer, or worse yet accepting defeat, your agent needs to escalate your negotiations. They need to talk to someone higher up the food chain. They should talk to a supervisor or senior loss mitigator. Talking to the AVP that is over that negotiator is a good option if all else fails.
If you’re not sure that the agent you are considering hiring really knows how to reach the higher level decision makers at your bank, contact us at OCForeclosureOptions.com and we’ll connect you with an agent in your area with the right amount of knowledge, the right amount of experience and the right tools to get your short sale closed the right way.
