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Short Sale Training Lesson
[July 31, 2008] by Broker-Trainer
Filed under: Short Sale Training Lesson

FREE Short Sale Course for Mortgage Brokers

Over my last several posts, I’ve introduced some business starting tips, the basics of marketing, and techniques for prescreening sellers for a preforeclosure based business, one that can produce thousands in profits. I’ve also mentioned what you may already see as an obvious reality, that being the current challenges in working the mortgage business. After all, what are the formal mortgage broker training, attendance at mortgage seminars, and time and effort that you’ve put in doing for you now? There has to be something else in today’s market. As someone who has had mortgage loan training and who I’m sure pays attention to the news and realizes how many foreclosures are out there right now, aren’t you ready to learn how you can effectively market to new clients, profit from the current real estate economy and, in doing so, earn 10 times what you would make for simply originating a loan?

In my discussions with you, I’ve also introduced my system for working this business that works and that works consistently! If you really think about it, a foreclosure investment course (or any real estate investment course for that matter) should focus on giving you repeatable results, not just something that may work for a few select people.

Now, let’s continue with a new series of posts, which introduces an often overlooked but valuable part of working with preforeclosure sellers, that being the necessary paperwork you need to use. Since we’ve now covered both business basics and marketing, as well as the basics of sales and negotiations in working with preforeclosure clients, let’s see where we are at right now.

The power of paperwork

Paperwork basic necessities

Reinstatement paperwork

Short sale paperwork

Summary- lists of documents for different situations

There’s an old adage out there that the Golden Rule of Business is: ‘They who have the gold make the rules.’ In the context of real estate, I would argue that ‘They who control the gold make the rules.’ This means controlling the flow of money through a transaction. When you control the paperwork, you control the flow of the deal. See where I’m going with this?

If you want to be in a power position on each and every deal, the best way to do that is to be control of the paperwork. Think about that for a second. Have you ever worked with a realtor who insisted they use their own contracts? Have you ever had a seller (or buyer for that matter) want to have an attorney review the paperwork and it came back completely different?

In these circumstances, others realize what you now do. Paperwork means power in a real estate deal and you have the opportunity, when you learn my system, to be a master of paperwork in your preforeclosure business. Sounds pretty good, doesn’t it?

Control of the process is one of the many reasons why I favor pre foreclosures and short sales. Do you have much choice of what contract to use when you are negotiating with a bank on an REO or for a HUD deal? Most likely, you do not, and this can put you at a disadvantage.

Pre foreclosures allow you to work directly with your sellers and stay in complete command of the transactional process, from beginning to end. Over the next few weeks, I will outline some of the critical documents that you will need to master to do just that in your own business. All you have to do is ask yourself the following questions:

Do I like to be in charge of my own business?

Do I like dictating the flow of my deals?

Do I want to be recognized as an expert in my field?

When you understand and master the paperwork side of the preforeclosure business, you’ll be able to answer ‘Yes’ to all of these questions so stay tuned and hold on. We’re getting into it now!

In summary for this post, I’m sure you can now see how important the paperwork aspect is to your preforeclosure business and also how the overall content of my free foreclosure investment course allows you to follow this business at a pace that matches your lifestyle. Since you are in the mortgage lending business already, the idea of paperwork with clients should be something that you are well on top of, again a huge advantage you have over other investors. The mortgage lending business is intimately tied to real estate and puts you in a great position to profit from the booming preforeclosure market. Please take the time to review the action steps and tips from all of my recent posts and make sure you’ve paid attention because we’re going to move onward and forward and I want you to be in an ideal position to act upon what you are learning. Stay tuned, I have so much more to share with you, and all the best to you in success.

D.C. Fawcett

The Short Sale Expert to Mortgage Brokers

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