Horan & Wagner, P.C.
Tips and Trends for
Real Estate Professionals
Welcome to our Tips & Trends Newsletter. Our goal is to provide real estate professionals with inside information and tips that can help make your deals go smoother, and help make you MORE MONEY.
TIP OF THE WEEK: Do what you do best, hire someone else to do the rest.
STORY OF THE WEEK:
We recently closed two short sales representing the seller. Both deals closed quickly, even though there were last minute obstacles (of course!). Why? Because all the professionals knew and understood their roles.
Sadly, on the contrary, we have two other approved short sales meeting delay after delay. Why? Because the other attorneys did not understand their rolls. Attorneys not experienced with short sales negotiations do not have the required double sided coin mentality (sense of urgency/patience). Urgency in getting documentation; patience in waiting for bank approval; urgency again to close within the bank set parameters. Short sales are riddled with documents and deadlines. Miss a document and the deal can be declined. Miss a deadline, and you may have to start from beginning. Either way, your deal can be delayed or even worse, dead for reasons beyond your control. For this purpose, you should have professionals working on your behalf. Do what you do best, and hire someone else to do what they do best! As realtors, on both regular and short sales, make sure you use attorneys that have patience, persistence, and professionalism.
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Some of you have done business with us in the past and know that Horan & Wagner's goal is to provide exemplary service, professionalism, and good advice. As former in-house bank attorneys with underwriters on staff, we understand the rules and regulations facing the real estate industry, and this enables us to put deals together more quickly than others, and helps us navigate the difficulties that face others when negotiating short sales, mortgage refinances, loan modifications, non-performing note and REO pool acquisitions, and other types of transactions.