Commercial Short Sale Training
Mar 10th, 2011 by admin
Commercial Short Sales will be the next big opportunity for all Real Estate Agents to be successful, make great money and get their feet into the door of the Commercial Industry. Commercial mortgage defaults are happening at an alarming rate and are only getting worst. Many commercial property owners will not be able to save their properties and will turn to Real Estate Agents for help.
This is where Commercial Short Sale Training will be essential for ALL Agents who want to be successful in commercial short sales. There are similarities and differences between residential and commercial. The most important things to know are:
- The Step by Step of Process
- Different Types of Lenders/Loans
- What is Commercial Mortgage Backed Securities (CMBS)?
- Why Would A Mortgage Lender Accept Less Money?
- When Can It Be Done?
- SBA Loan Basics and SBA Process
- Items Needed from Borrower/Owner
- Items Needed for Submission
- Deficiencies/1099
- Where to find Clients with Little or No Equity
Once you know and understand the things listed above, you will have a good amount of knowledge to process and complete a commercial short sale. Essentially you will be able to help all types of commercial property owner’s with their properties. You will find that Commercial lenders tend to be very organized and efficient. They will to give you less of the run around and are very good at streamlining the process. They also tend to be completed much quicker than the typical residential short sale. There are also fewer agents doing commercial, which mean much more business and very little competition from other agents.