I find these negotiators to be very amusing:
"If you don't to xyz then I'm going to close the file, shred my hard drive, incinerate the shreds, and scatter the ashes across the Atlantic Ocean!"
I wonder how impressed your CEO would be with that behavior, and how long it would take you to re-open the file!
I don't like bullies. You know, people who think they can throw around their weight and make you do what they want. Maybe that's why I'm in real estate and not slaving away for a large corporation or, worse, the government.
It just seems lately that the world has too many bullies in it. The thing about bullies is they often aren't very bright. And sometimes they respond better when you deal with them on a primal level, employing a strategy my mother used to call kick 'em where it hurts. But when I see a person bullying another, my instincts are to step in and help, even though I know I should let people fight their own battles. I am not a white knight agent, nor do I want to be.
However, nary a week goes by when I don't hear the words: "And if you don't (do whatever), I will close the file." You know what? Sometimes, it's a good idea to let the bank's short sale negotiator close the file. Because the parties to the transaction might get a better offer and better treatment from the next negotiator who reopens the file.
I closed a short sale earlier this year that had been dragging on for almost 18 months. It was one of those older Bank of America short sales. I sold that home probably 3 or 4 times. And each short sale approval letter was different. The first letter called for a seller contribution. The second, a promissory note. By the time we got to the third or fourth approval letter, the bank didn't demand anything.
As long as the seller and the buyer are willing to wait out another 30 to 60 days, it can be beneficial to all parties to let an unreasonable negotiator close out the file and then start over. I'm presently using this strategy in several Sacramento short sales. It's worked in the past. When I find something that works, I keep doing it.
Photo: Big Stock Photo
Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout Sacramento. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available through bookstores everywhere and at Amazon.com.
Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.
The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.
Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.
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