Chicago IL – What is your final goal? You want to sell your property quickly for top dollar, right? Keep that goal in mind during the entire negotiation.

I have seen people kill a potential sale to a person that would have been willing to pay top dollar for a property because they didn’t like the person. Or, the buyer started negotiations with a low ball offer and the seller got offended.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

“I refuse to negotiate with someone who insulted me with that lowball offer”, they said. And a good buyer moved on to buy another house. Most buyers with lowball offers can be negotiated to a higher price.

Some buyers have a big ego and think they are great negotiators (when they actually aren’t.) What is their definition of a great negotiator?

They think that someone with a big ego that tells people off and walks around like they own the world is a good negotiator. They think that being abrasive and rude will get them a better deal. They’ll throw around “take it or leave it” offers.

I can tell you from person experience that most buyers are willing to pay more than their “take it or leave it” offer. You just have to keep the negotiations going, even thought you might be a little unhappy or angry with what they are doing.

I have seen home sellers tell off a buyer that said something rude. That buyer could have bought their house. The buyer might actually be a very nice person. Keep your eye on the goal and don’t get distracted by petty things.

You want to sell your house for top dollar. Let anything a buyer says that is rude, or otherwise offensive, roll off like water off a duck’s back.

Thinking about a short sale?  Visit www.ShortSaleSuperMan.com for more information and news on Chicago short sales.   I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on A Common Chicago Short Sale Negotiation Mistake: Letting Your Ego Get Involved is provided as a courtesy to our viewers to help them make informed decisions.

Chicago IL – Many buyers will ask what your bottom line is. They know that they can usually negotiate a home seller down to an even lower price.

Don’t fall for it. You’ve already made the first move by setting a price for your home. Tell the buyers that you need to think it over and get back to them.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Then, ask them what they like about your home. If they tell you, then you can determine their motivation to buy your home. After that, ask them what they are thinking of offering on your home.

The reason this rule is so important is that in some negotiations you may offer more at the beginning than the other party is willing to accept. Here is an example of this.

A person I know was trying to buy something. He had a price in mind that he was willing to pay. He thought the best price he could get was $1,500, but he was willing to pay up to $2,000.

He asked the seller what he wanted for the item. The seller responded that he didn’t know what he wanted. He offered the seller $1,500 and the seller accepted it.

Later on he learned that the seller was desperate. The seller had a price in mind of $800 to $1,000. If the seller had mentioned an opening price first, then he would have saved $500! Instead the seller made an extra $500.

Thinking about a short sale? Visit www.ShortSaleSuperMan.com for great information on Chicago short sales.  I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on A Common Chicago Short Sale Negotiation Mistake: Dropping Your Price Before Negotiations Start is provided as a courtesy to our viewers to help them make informed decisions.

Chicago IL – This is the worst sin of negotiating. Don’t tell the buyer’s or their agent your life’s story.

What do you think would pop into a buyer’s head if they heard this out of a seller’s mouth? “We must sell the home because it is in foreclosure and if we don’t sell it be June 23rd, then the bank will foreclose on it.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Immediately they will think, “I wonder what they owe on the house. If it doesn’t sell they will have a foreclosure. The sellers probably just want to get what they owe on the home so they can avoid foreclosure.”

This is an extreme example, but it shows you how a simple slip of the tongue could cause a seller to lose a large amount of their hard earned equity.

A seller facing foreclosure in that situation might be desperate enough to “get out” with none of their equity just to avoid foreclosure.

But, what if they buyer was willing to pay the market value for the home? That seller just lost all their equity! When a buyer asks why you are selling answer them without giving away any extra information.

You could say, “Oh, we would like to move to a smaller home.” You don’t need to say much more than that. And don’t tell them you must sell by a certain date to avoid foreclosure!

Thinking about a short sale?  Visit www.ShortSaleSuperMan.com to learn more about Chicago Short Sales.  I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on A Common Chicago Short Sale Negotiation Mistake: Talking Too Much is provided as a courtesy to our viewers to help them make informed decisions.

Chicago IL – Despite what you have been told price isn’t the only reason people buy. Maybe they really like a certain feature in your home.

They might be willing to pay more because of that feature. Sometimes they might even absolutely love that feature.

They have been home hunting for a while and finally found a home that met their needs completely. That means they are willing to pay more for your home.

If you meet the buyers, then ask them why they are buying a home. They might tell you that they are being transferred and have to find a home by a certain date. If you know that, you will be able to negotiate a higher sales price.

Your agent needs to probe for the buyer’s motivation every chance they get. If the buyers have an agent, then they need to probe that agent for information.

“Why do the buyers like this home”, “Where are they moving from”, and “How does this home compare to other homes” are some of the questions they should be asking. No, they shouldn’t be asking them as bluntly as that.

But, you can often find the answers in a roundabout way. For example, your realtor could say, “They will love our town because of the X (insert a unique feature of your town.) Do they have an X where they live now?”

That will start the conversation about where they are moving from. You can learn a lot from what the other realtor says.

It can really help with the negotiations. You would be amazed at what some people will tell you.

Thinking about a short sale?  Visit www.ShortSaleSuperMan.com for great information and tips on Chicago short sales.   I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on A Common Chicago Short Sale Negotiation Mistake: Not Learning The Buyer’s Motivation is provided as a courtesy to our viewers to help them make informed decisions.

Chicago IL – Some buyers will think that since your house is a short sale, then they can make any lowball offer.

Many sellers get offended over their offers and turn them away. After going thru many short sales we have actually found that lowball offers are not necessarily a bad thing. Let me explain why.

So you get the advantage of getting a good deal. Now, I am sure you are asking, “Why are short sales a bargain?”

After you accept the buyer’s offer you have to wait for your lender to approve the short sale. This process can take from thirty to ninety days.

That gives the buyers lots of time to sell themselves on the house. They drive their friends past it. They drive their parents past it.

“That is the house we are trying to buy”, they tell them. “That’s a nice house. I think you are making a great decision”, their friends and family tell them.

The short sale lender will order an appraisal of the house. They will come back and say that they will not accept a sales price much lower than the appraised value.

We tell the buyers that the short sale lender has ordered and appraisal. The appraisal came back at X, and the lender won’t allow the property to sell for less.

At that point most buyers agree to pay the price. We have seen buyers agree to pay 5-10% more than they had originally offered.

We feel that it is because they had time to “sell” themselves on the house. What do you think? Let me know by commenting below.

Thinking about a short sale?  Visit Chicago’s short sale expert at www.ShortSaleSuperMan.com Learn how a short sale can get you out of debt and actually allow you to purchase sooner.   I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on Chicago Short Sale Negotiation Tip: Don’t Get Insulted By Lowball Offers is provided as a courtesy to our viewers to help them make informed decisions.

Chicago IL – If you are considering buying a short sale, then you should know what you are getting involved with.

First off congratulations! Buying a short sale is a great decision. Most short sales usually sell for 3-5% less than other comparable homes.

So you get the advantage of getting a good deal. Now, I am sure you are asking, “Why are short sales a bargain?”

The reason is that a short sale takes longer than a normal real estate sale. You have to wait 30-60 days for the seller’s bank to approve your offer.

In addition, some agents do not understand short sales. They talk bad about them even though they have not educated themselves on how they work.

Here are a few things you should educate yourself on before making an offer on a short sale.

How experienced at short sales is the seller’s agent? If the seller’s agent has little short sale experience, then you should probably look at another house.

How many liens does the seller have? If the seller has three or more mortgages and/or liens, then you should pass. It’s hard to make a short sale work in these situations.

Remember the Aesop’s Fable about the monkeys with their hands in the jar? Well, all three lienholder’s hands are in the cookie jar. But, none will put down any cookies so they can pull their hand out.

The bottom line: One or two mortgages and/or liens is ok. Three or more is not.

Thinking about a short sale? Visit one of Chicago’s short sale experts at www.ShortSaleSuperMan.com See how a Chicago short sale can get you out of debt.  I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on What You Should Know Before Buying A Chicago Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Chicago IL – The Stop Foreclosure Institute recently received a question from Kristine.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was Kristine’s Question. “I bought a condo in 2005 and have never been late on a payment. My husband and I have been renting out this property for less than we pay on it.

We had hoped that the market would turn around, which it hasn’t. The current renter has fallen behind on rent in July and will be moving out at the end of the month.

In turn we are struggling to pay our own bills. We have done all we can to keep our finances afloat. But, it has gotten to the point that our savings are drained and we cannot afford this condo anymore.

I heard that doing a short sale may be in good interest for someone in my situation. The loan I have is a VA loan and I hope I will not mess my future VA loan privileges up by doing this.

However, we simply cannot afford to pay our current mortgage and all of our bills with this condo hanging over us. Please let me know what you recommend that we do. Kristine.”

Here was our recommendation to Kristine. A short sale would be beneficial to you. Let me explain why.

Currently you are losing money every month. In addition, the economy has caused you to use up all of your savings. But, this condo is still costing you money every month.

If you short sale it, then you will not have to repay VA or your lender any money for the loss. However, you will not be able to get another VA loan in the future until you repay VA for the loss.

Here is the bigger issue. A VA loan gets you a half a percent better interest rate. If you get another loan for $200,000, then that will save you $20,000 over the life of the loan

I do know that the area you bought your condo has experienced significant depreciation. Your condo has dropped in value by $120,000.

I would prefer to write down $120,000 in debt and take the temporary credit hit. Your alternative is to continue limping along losing money each month until you miss enough payments that the bank forecloses on your condo.

Thinking about a short sale? Visit www.ShortSaleSuperMan.com for Chicago short sale help and news.  I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on Should I Loan Mod or Short Sale My Chicago Investment Property is provided as a courtesy to our viewers to help them make informed decisions.

Chicago IL – Once the lenders have solid data in place to find and measure the problem, then solid decisions can be made to fix the problems. Our last blog post detailed how to get that data.

Once you have the data, then you can have accountability. Here are a few things we know should be held more accountable.

#1: People that value the property for the lenders. Before approving a loan modification or short sale, the lenders compare that financial result with what they can expect from foreclosure.

What they will recoup on the short sale or loan modification is a relatively solid number. What they will recoup on foreclosure is not.

So, they ask an expert to tell them what the property is worth. This person evaluates the property and tells the lender what they think the property is worth.

In our opinion, these valuations are not always accurate. We see many people say a property is worth $240,000. The short sale offer is for $225,000 and is rejected because of the $15,000 difference.

However, when the property is foreclosed and the dust settles, the home ends up selling for $200,000. That is a big discrepancy and someone needs to be held accountable for it.

#2: The people processing these files. In some cases the people processing these files don’t answer calls or respond to e-mails. Because of this, many short sales fail and are foreclosed on later.

If a buyer offering to pay $225,000 walks after two months and the home sells for $200,000 as a foreclosure, then the person processing the short sale needs to be held accountable.

Thinking about a short sale? Visit www.ShortSaleSuperMan.com for information on Chicago short sales.  I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on Step Three In Fixing The Flawed Chicago Short Sale Process: Accountability is provided as a courtesy to our viewers to help them make informed decisions.

Chicago IL – In our last post, we agreed that the first step in fixing the flawed short sale process is to acknowledge what the problem is.

We agreed that the problem is that the lenders and investors are losing billions on defaulted loans.

In addition, American Homeowners are losing billions on declining home values caused by a housing market decline caused by foreclosures.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

The next step is measuring the damage and finding ways to fix it. Here is how we suggest that by done.

To analyze the problem properly, someone will need to study the results. Lenders need to start tracking the results of their actions.

The projected outcome from each of the outcomes should be recorded. Each defaulted loan will have several stats.

First will be the expected outcome if they had agreed to a loan modification. They find that out by asking the homeowner what they are willing to pay monthly.

They plug that into an amortization calculator and find out the mortgage amount that payment equates to. For example a homeowner says that can pay $1,500 a month for the next 30 years.

That equates a $264,182 mortgage at 5.5% interest. Measurement #1: Loan Modification: $264,000 could be realized by accepting that loan modification.

If the house is marketed as a short sale, then any and all offers should be recorded. Let’s say a buyer offers to buy the home for $249,000. That would give us Measurement #2: Short Sale Return: $249,000.

The short sale is rejected. The home is foreclosed and sold as a foreclosure. It is put on the market and ends up selling for $218,000. That gives us our final measurement.

Measurement #3: Foreclosure Return: $218,000.

Now we can all see solid numbers on the results. If that lender did reject the loan mod and short sale, then that process needs to be fixed.

With proper measurement there is no more guessing. Solid, pragmatic decisions can be made to fix the problem.

Thinking about a short sale? Visit Chicago Short Sale Super Man at www.ShortSaleSuperMan.com to learn about Chicago short sales.  I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on The Second Step In Fixing The Flawed Chicago Short Sale Process is provided as a courtesy to our viewers to help them make informed decisions.

Chicago IL – Many agents have been complaining that the short sale process is flawed. A recent survey of realtors showed that over half of them thought the short sale process was difficult.

Some of the agents complained that they are “struggling with a broken short sale process.” But, why is the short sale process flawed?

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Because no one is checking the results. There is no stated goal for the process. Have you ever heard of the first step in overcoming alcoholism?

In Alcoholics Anonymous, the first thing a new member does is admit they are an alcoholic. The new member stands up and says, “Hi, I’m Tom and I am an alcoholic.”

At that point they have established the problem and acknowledged its existence. Now they have a clear goal to overcome. Back to short sales.

Have the bank’s established a problem?

Maybe the CEO could stand up says, “Hi, I’m Brian. The bank I head up is losing billions of dollars on bad loans.” In addition, the people invested in our loans are losing billions more.

Finally the American Homeowner is losing billions from a declining housing market caused by abandoned and unloved foreclosures being tossed on the market with no regard for preserving home values.”

Most of us know that this is the problem. If only the banks would acknowledge the problem. But, will they? Let me know if you think they will by posting a comment below.

Thinking about a short sale?  Visit www.ShortSaleSuperMan.com for information and tips on Chicago short sales.  I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on Agents Claim the Chicago Short Sale Process Is Flawed. But, How Do We Fix It? is provided as a courtesy to our viewers to help them make informed decisions.