Should You Hire a Short Sale Negotiator?
More and more, I believe the answer is NO. If you are considering a short sale, you are likely already in financial stress. You don't have to pay money to a title company or real estate attorney to handle your short sale for you. The short sale negotiation industry grew out of the need for real estate title companies and attorneys to increase their income as a result of the real estate downturn. Sharply reduced sales meant sharply reduced revenue. To make up for this, title companies and real estate attorneys marketed their services to homeowners and real estate agents. The services were marketed to include the mundane tasks most real estate agents can't or won't undertake, including collecting the seller's financial information, disclosures, and keeping constant contact (supposedly daily) with the seller's lender to push the transaction to the head of the line with the lender, who is likely overwhelmed with the volume of short sales and foreclosures. The...