Water Bottles And Banks That Reject Closing Cost Assistance
http://shortsalepowerhour.com
Closing costs shouldn’t be a deterrent in your short sale business. The rules haven’t changed. This is still about loss mitigation and savings over foreclosure.
You might also consider checking out Rick Geha’s conference call on March 7th, “Secrets of the Best Lead Generators” Sign up now!
HOW TO CLOSE AT LEAST 3 DEALS IN THE NEXT 90 DAYS
Get instant access to our online masterclass to learn the simple steps.
HOW TO CLOSE AT LEAST 3 DEALS IN YOUR NEXT 90 DAYS
Get instant access to our online masterclass to learn the simple steps.
About the Authors
Kevin Kauffman & Fred Weaver
Kevin and Fred the founders of Group 46:10. Over the last 10 years Kevin and Fred, and their team have closed tens of millions in real estate all over the country and have created some of the best training for agents in the market. Kevin and Fred are also highly sought after teachers whose work has helped agents all over the country build their own next level real estate business.
🙂 Had Wells Fargo processor respond with a counter offer in which the sales price increase would have coincidentally added exactly what the closing costs assistance was on the HUD-1. With an offer of $155,000 on a home with a BPO of $155,000 (let’s review, the BPO and the offer are IDENTICAL), then net payout to Wells fargo is EXACTLY 88% of the BPO, WITH closing costs assistance. Knowing that, I informed my processor that it is within the threshold of Wells Fargo’s requirements.
His response:
“The file has been passed to the negotiator for approval. It’s been a pleasure working with you. You’ve been on top of the file since day one.”
My paraphrase:
“You obviously know what you’re doing and have enough information to successfully argue that neither I nor my colleagues will be able to COLLECT any more from this transaction than we had hoped. Aww shucks. It was worth a try.”
My 2nd paraphrase:
“Hmmm…how did this savvy agent know this information?”
Nice work Jon!
They let you see the BPO?
Wow! Thanks for the “Name Drop” Kevin & Fred! If there are any agents out there sitting on the fence about going to Uncensored in Vegas, it is time to get off the fence. My ROI from Short Sales Uncensored will be off the charts and yours will be too. Started off today with another Short Sale Approval from Wells Fargo/FHLMC after a BPO dispute and I get a “Name Drop” on SSPH. Awesome!
You got it Mark! Keep up the great work.
In Georgia it is customary for us to ask for and the buyers needing closing cost. I had BofA/Freddie Mac refuse to pay the closing cost. I pushed back the outback way. Freddie Mac pays 3% percent closing cost when it becomes an REO, so why nt during the short sale
Thanks for the feedback Claudia..