10 Reasons Professional Investors and Real Estate Agents might want to consider outsourcing their Short Sales

With statistics now showing that 1 in 4 mortgages in the United States are upside down, there is no shortage of short sale business to be found. The question is what are you doing with them? Here are some thoughts to consider on whether to outsource the negotiations or try and negotiate yourself....

1) You have to have a Buyer to start the Short Sale process with the Lender. They will not even look at your package without an offer.

2) Short Sales can take a very long time to negotiate. You risk losing buyers because people want to buy NOW!

3) Short Sales can take a lot of time and effort. As a successful Real Estate Agent, you have better things to do than negotiating with the banks, you should be focused on listing and market properties, finding sellers, and finding buyers.

4) There are some states states where attempting to work a short sale for a homeowner can be looked at as breaking the law because you are “acting as a lawyer.”

5) The Lender will battle you on all aspects of your offer, including the commission. You must be prepared to fight the lender for what you are worth

6) You’re a professional Real Estate Agent, not a professional loss mitigator. Good negotiators have years of experience in the loss mitigation departments and understand how the loss mitigation process works.

7) Working with a negotiation company can benefit you because they have developed relationships with the Lenders that can expedite the Short Sale negotiation process.

8) A Short Sale requires stacks and stacks of extra paperwork that is outside of the normal forms you may be used to. Partnering with a loss mitigation team can help you because they already know the items each Lender requires and can provide them to the lender ahead of time to shorten the Short Sale process.

9) Meeting the BPO agent. Most good short sale negotiation companies will send someone out to meet the BPO agent so you can spend your time on more important things.

10) Short Sales will take your focus from the things you know you need to do in order to be a successful Real Estate Agent and have you working on tedious time consuming tasks. In my opinion its better to hand it over to someone else who has the experience doing the negotiations and focus on getting more business!!!

What has been you biggest challenge with short sales?

Contact me if you would like help finding a company to outsource your short sale negotiations too.


To your success,

Oliver Graf
Real Estate Expert




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Sentate Bill 94 - Does it hurt the chances for getting Loan Modificaion Help?

Sentate Bill 94 - Does it hurt the chances for getting Loan Modificaion Help?

The California Assembly recently passed Senate Bill 94, a bill that aims to protect homeowners from loan modification scammers. However, does it end up having the unintended consequence of eliminating a homeowner’s ability to retain an attorney to help them save their home from foreclosure.

The bill, which included an “urgency clause” and was set to start immediately. SB 94 prevents companies, individuals, and even attorneys… from getting up front fees or any other form of compensation until after the Loan Modification has been completed.

Supporters of the bill say that the state is currently over run with scam artists who take advantage of homeowners desperate to save their homes from foreclosure by charging exorbitant up front fees and then failing to deliver anything of value in return. In their opinion, by making it illegal to charge up front fees, they will be protecting consumers from being scammed.

While there’s no doubt that there have been unscrupulous companies that have taken advantage of homeowners in distress, the number of these “con artists” is unclear. It was time for something to be done, but does SB94 fix or worsen the problem?

Supporters, state that homeowners will still be able to hire attorneys, but that the attorneys will now have to wait until after services have been rendered before being paid for their services. They say that attorneys, just like real estate agents and mortgage brokers, will now only be able to receive compensation after services have been rendered.

People who oppose the bill on the other hand say, “Getting a lender or servicer to agree to a loan modification takes months, sometimes six or nine months. If I worked on behalf of homeowners for six or nine months and then didn’t get paid by a number of them, it wouldn’t be very long before I’d have to close my doors. No lawyer is going to do that kind of work without any security and anyone who thinks they will, simply isn’t familiar with what’s involved. Real estate agents get paid through escrow, where is our security”

Take a look in the future…
California’s ALT-A and Option ARM mortgages are just beginning to re-set, one third of these types of mortgages are still set to adjust in the next 24 months! This will cause homeowners payments to rise, and with almost half of the mortgages in California already underwater, these homeowners will be unable to refinance and foreclosures will increase as a result.


For more information take a look at SB94: http://info.sen.ca.gov/pub/09-10/bill/sen/sb_0051-0100/sb_94_cfa_20090327_152419_sen_comm.html

Does SB 94 end up reducing the number of legitimate firms available for homeowners to turn to? Will SB 94 actually stop con artists from taking advantage of homeowners in distress? Or will it end up only stopping reputable lawyers from helping homeowners?



To your success,

Oliver Graf
Real Estate Expert
Follow me on Twitter: Twitter.com/OliverGraf360



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Short Sale Success! Wachovia short sale with 3 loans!!

The short sale of real estate is not a questionable practice in today's softening real estate market, it may be a necessity. The short sale transaction is a legal and much more beneficial alternative to foreclosure or even bankruptcy. Lenders are motivated to accept short sale offers to for a number of good reasons. The short sale of your home can result in a win-win-win situation for all parties involved

Our latest short sale success was on a property that had 3 mortgages and over 5k in back HOA payments!




1st Lender: Wachovia
2nd Lender: Wachovia
3rd Lender: Dyckoneal


Our team was able to negotiate with all lenders to agree to the short sale terms and pay off ALL the HOA arrears!

Please contact me for NO COST help with short sales!


To your success,

Oliver Graf
Real Estate Expert
Follow me on Twitter: Twitter.com/OliverGraf360



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Foreclosure Properties are selling at a Record Pace - Get them before they are gone!

Good Foreclosure Properties are selling FAST!

Buyers in most areas are finding that bank owned / real-estate owned (REO) properties(homes that the lenders have repossessed and put back on the market)often are selling the day they are listed for sale, sometimes faster. According to the founder of Foreclosure.com, offers on REO properties are coming in immediately after the listing comes on the market, and some homes have been put into contract in less than 90 minutes.

What this means to buyers today…

• On average, inventory on California properties priced less than $300,000—the most-competitive price point for todays foreclosure buyers—have dwindled from a 10-month supply a year ago, to less than a 4 month supply in July, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)

• Since the inventory levels of homes priced in the lower end of the market are so low, buyers are finding that lenders/sellers are not willing to negotiate on the price. In many instances, lenders/sellers expect the first offer to be the best and highest possible for the buyer, and most are being sold over list price. Since competition is so high, when writing offers be prepared to make the best offer you possibly can upfront in order to be considered.

• Instead of holding onto REOs for the best prices—and paying the property taxes and maintenance and carrying costs—many banks are selling these properties as quickly as possible, according to Foreclosure.com. “In this market, if banks can liquidate them fast, it makes more sense to get them off the books,” said the company’s founder.

• In spite of efforts by lenders and the government to prevent foreclosures, many economists and housing experts are predicting another wave of foreclosures by year’s end, and many of those properties will be offered for a quick sale. According to the U.S. Comptroller of the Currency, 53 percent of loans that were modified in the first half of 2008 fell back into arrears and will most likely end up in foreclosure down the road


If you are serious about buying property while taking advantage of the available tax credits make sure that you and your agent are prepared to work quickly!


What have you noticed from the REO buying experience?


For any help or questions on buying REO’s Please contact me:

Oliver Graf
Real Estate Expert


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How to Submit a Real Estate Short sale: What you need to know

How to Submit a Real Estate Short sale: What you need to know...

Submitting the Short Sale

So you have met with(or are) the homeowner and have the property on the market getting the proper exposure. Now it’s time to prepare the documents and submit for a short sale. This is the most time consuming part of the Short Sale process especially if you do not stay organized and take notes on all your conversations with the lenders.

What the real estate agent will need:

Authorization to Release Information: This form allows your real estate agent, escrow company, and title company to talk to a lender on behalf of the borrower. The lender will not talk to anyone unless they have this on file.

CMA: With the current Active, Pending, and Sold properties going 90 days back(close of escrow)
Listing Contract: The Listing Contract, Short Sale Addendum, and MLS printout.
Offer to Purchase: Retail offer to purchase on the subject property


What needs to be provided to the lender(Including everything listed above):

Financial Worksheet: Shows your assets, liabilities, and expenses. Great tool for presenting the borrowers current “hardship” to the lender.
Proof of income: You will need the last 2 pay stubs and last 2 years W2's. If you are self-employed, you will need last 2 years tax returns and a Profit and Loss statement for the past 3-6 months.
Bank Statements for the past 2 months: Showing balances and spending history.
Hardship Letter: This is where the borrower has the opportunity to “state their case” to the lender. Why did the situation occur? Why do you need to sell? What is going on with your hardship now?
Last 2 years of tax returns: All pages are needed and if you filed an extension, submit the extension paperwork.


Once you have all of the paperwork together, send it all at once and as soon as possible. Make sure it's complete and legible. Also, make sure you are constantly following up because the lenders a overwhelmed with requests and sometime lose track of progress. There is a long line of borrowers ahead of you so if the file is missing anything, you will get notice but the file will go to the bottom of the pile again.

What have you noticed in your short sale experience?

If you need any help with short sales, contact me today!


To your success,

Oliver Graf
Real Estate Expert
Follow me on Twitter: Twitter.com/OliverGraf360



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16 Tips to bring you Massive Success

16 Tips to bring you Massive Success

1. Get and stay out of your comfort zone.

I believe that not much happens of any significance when we're in our comfort zone. When you are out of your comfort zone or uncomfortable, you are growing.

2. Never give up.

Almost nothing works the first time it's attempted. Just because what you're doing does not seem to be working, doesn't mean it won't work. It just means that it might not work the way you're doing it. If it was easy, everyone would be doing it!

3. When you're ready to quit, you're closer than you think.

There's an old Chinese saying that I just love, and I believe it is so true. It goes like this: "The temptation to quit will be greatest just before you are about to succeed." Most people quit when they are 3 feet from GOLD!!

4. With regard to whatever worries you, not only accept the worst thing that could happen, but make it a point to quantify what the worst thing could be.

Very seldom will the worst consequence be anywhere near as bad as a cloud of "undefined consequences." During the toughest times in my business when I felt like nothing was working I would just think to myself “This can’t kill me, one day I’ll look back on this and laugh!” Hahaha…

5. Focus on what you want to have happen.

Remember that old saying, "Whether you think you will or not, you are right." It is always so important to keep a positive mindset. 80% of your success will come from this.

6. Take things a day at a time.

No matter how difficult your situation is, you can get through it if you don't look too far into the future, and focus on the present moment. You can get through anything one day at a time. “This too will pass”

7. Always be moving forward.

Never stop investing. Never stop improving. Never stop doing learning. The moment you stop improving your organization, it starts to die. Make it your goal to be better each and every day, in some small way. Remember the Japanese concept of Kaizen. Small daily improvements eventually result in huge advantages.


8. Measure everything of significance.

I swear this is true. Anything that is measured and watched, improves. Keep track of your numbers. Hold yourself accountable and watch your business grow.

9. Anything that is not managed will deteriorate.

If you want to uncover problems you don't know about, take a few moments and look closely at the areas you haven't examined for a while. I guarantee you problems will be there.

10. Pay attention to your competitors, but pay more attention to what you're doing.

When you look at your competitors, remember that everything looks perfect at a distance.
What is your edge? What make you different? Why should someone work with you over the competition?

11. Never let anybody push you around.

Never let someone tell you “It can’t be done.” Don’t let other people’s opinion determine your success.

12. Never expect life to be fair.

Life isn't fair. You make your own breaks. Don’t let your down falls hold you back. You will fail many times before you succeed. Fail Forward Faster!!

13. Solve your own problems.

You'll find that by coming up with your own solutions, you'll develop a competitive edge. Masura Ibuka, the co-founder of SONY, said it best: "You never succeed in technology, business, or anything by following the others." Be you, and YOU will succeed!

14. Don't take yourself too seriously.

Lighten up. If you are walking around upset and uptight that is what you will get more of. Be happy and positive! None of us are in control as much as we like to think we are.

15. There's always a reason to smile.

Find it. After all, you're really lucky just to be alive. Life is short. Remember: "We're not here for a long time, we're here for a good time!"

16. Money is how business people keep score!

What’s your score?


To your success,

Sam Khorramian
Success Expert

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How to get more Short Sale Business Tip #2 of 8 (For Investors, Realtors, and Brokers)

How to get more Short Sale Business Tip #2 of 8 (For Investors, Realtors, and Brokers)

Tip #2 of 8 on how to get more Short Sale Business

I am committed to helping Realtors and Brokers expand
their business by providing marketing tips and structuring
the short sale experience so you keep your full
commission and do minimal work.

This tip is all about:

CALLING LOAN MODIFICATION COMPANIES TO GET TURN DOWNS

This is an excellent way to generate
short sale listings! Many homeowners want to
explore a loan modification before resorting
to a short sale, however most simply
do not qualify. Mainly because they have a
permanent hardship (like loss of job)or they
can't afford the three grand that the loan
mod company charges.

Most Loan Modification companies have
large quantities of these "bad" leads (bad for them, good for you).
Partnering with just one large company could staff a
full office of agents listing short sales for months!

The idea is that you call them and set up a relationship
where both you and the loan mod company are
benefiting. If you call and simply try to ask
for business you might not get very far, but if
you get creative and come up with a plan
where everyone will benefit from the relationship
you can have great success!

Now is the time to make those partnerships
happen and then sit back and watch the short sale
listings come to you.

Keep in mind, with Short Sale Pros you keep
all your commission and we do all the work work with the bank!


What other methods are you using to take advantage of the short sale market? Look out of tip 3 coming out soon!


Keep in mind, you can contact me anytime to help get your short sales closed, with our model you keep all your commission and do none of the work!


To your success,

Oliver Graf
Real Estate Expert
Follow me on Twitter: Twitter.com/OliverGraf360



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