How many grains of rice in a meal

However, more times than not, an effective value dispute leads to short sale approval. If you are a short sale listing agent, a short sale processor, or a short sale negotiator then you probably already know about the short sale standoff. Or… better yet, each one will not move any further in the short sale process until they see the short sale approval letter from the other lien holder. Scenario 1 — You are processing a short sale with two different mortgage-servicing companies.

Bank 1 employees tell you that they will proceed with the short sale, and they will offer Bank 2 a certain amount to release their lien. You call Bank 2 and tell them the good news. Unfortunately, the folks at Bank 2 want more money. If Bank 1 and Bank 2 do not agree, then you are in a standoff.

Scenario 2 — You are processing a short sale with two different mortgage-servicing companies. Bank 1 employees tell you that they cannot generate your approval letter until you present them with the approval letter from Bank 2. Bank 2 employees tell you the exact same thing. Clearly, in this situation, you are in a standoff. If you are in the middle of a standoff, then you are likely very frustrated. And, the lenders are not helping much by creating the standoff.

One thing about short sales is that the problems that arise can be difficult to resolve merely because of the number of parties involved—and all from remote locations. Imagine how much easier this would be if all parties sat at the same table and broke bread?

People always ask me how it is that I obtain short sale approval letters with such ease. I often sweat it, just like everyone else. Despite the fact that I do not have magical powers, I do have something else on my side—education.

One of the most important things than can lead to short sale success for any and all agents is education. Experience dictates that agents that learn about the short sale process have increased short sale closings.

There are many ways to become educated about the short sale process and make getting short sale approval letters look easy to obtain. These include:. As the distressed property arena grows and changes, it is important to always stay abreast of policy changes that may impact how you do your job and how you process any short sale that lands on your plate.

The most important thing to do is to read, read, read. Visit mortgagor websites to read up on their specific policies and procedures. Agents in most of America right now are clamoring for listings since we are in the midst of a listing shortage. But, if you are going to take on a short sale, be sure that it is a deal that you can close.

And, if you have your doubts, why not partner up with a local agent that can mentor your and assist you in getting the job done? After all, half a commission check is better than none! Subscribe to our mailing list for news sent straight to your email inbox. We respect your privacy and take protecting it seriously! Subscribe to get business and tech updates, breaking stories, and more!

We respect your privacy and take protecting it very seriously! Connect with us. Only one grain of rice. A bag of rice. One grain, one mission. Rice in my inbox. Related Topics:. Up Next Cuppa for your Thoughts?

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How do you maximally develop the intelligence quotient of a child? I understand that you must have rounded this number to then written a typo of Anyway - what level did you guys get up to? Have a wonderful day. This post was followed up on with a correction. There are not 1, grains of rice in a cup, folks. The site I referred to corrected itself and so did I.

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The site I referred to below corrected itself and so did I. Why do I now know this, or want to know this?