Do you have that sinking feeling on your commercial property? It sounded like a great investment at the time, to buy or build a small strip center or office building where tenants would flock to, pay good lease rates to cover the mortgage and then some.
Now, the building is half empty, lease rates are a quarter of what you expected to generate and you are now several months behind on your mortgage. You’re tempted to just turn it over to the bank and walk away.
Don’t worry, however. There are still solutions out there for you and the Short Sale Pro team is there to help.
At the end of the day, the last thing the banks want is another under-performing property on their books. They want to work with you, but you have to understand their process and what they want the end result to be.
We know their process. We know their people. We know their demands.
We’ll help you figure out if they are willing to look at some sort of work out on your mortgage or whether the bank just wants you to do a short sale on the property. We’ll work with you to find a broker, who will find a buyer.
You’ll be able to salvage some of your credit and your sanity.
DON’T DEAL WITH THE BANK!
The last thing you want to do is spend your day on hold with a customer service representative. You know it is a waste of your time. You have better things to do. And, in most cases, that representative can’t help you anyway. That’s where we come in. We have negotiated distressed properties with nearly every financial institution.
- We know who to call.
- We know how to speak their language.
- We’ll work with you to create the best solution possible, allowing you the time to close the deal, work on your business, or concentrate on the things you need to do.
WHY DO YOU NEED A SHORT SALE PRO?
Simply put, we are experts in dealing with financial institutions. Unless you have negotiated hundreds of distressed properties as we have, you are not equipped to get the best deal on your property or your client’s property. At Short Sale Pro, we know who to talk to. We know the questions to ask. We know the terms a financial institution is willing to bend on and what they really want. Best of all, we take the process off your plate, allowing you to concentrate on what you do best.
HOW IT WORKS
We have perfected the art of negotiating with the bank on your behalf. We understand the nuances of what they will and will not accept. To find the best solution for you, we’ve put together a 10-step process to bring you to a better financial situation and eliminate the albatross around your neck.
TRYING TO CLOSE A COMMERCIAL DISTRESSED PROPERTY?
You want to find the best possible deal for your client, right? However, you’re dreading that call to the bank to see if they will agree to the terms you’ve masterfully crafted in the sale of the property. That’s where we come in. We love to call the bank. We actually look forward to the time when we can work with the right people to get the best terms and conditions for your client. We’re experts in this field and our skills give you time to focus on the parts of the deal you are an expert in!
OWN A BUILDING AND NEED A COMMERCIAL LOAN WORKOUT OR A SALE?
One solution that we find works in many situations is a distressed property sale. In these cases, you’ll work with a licensed commercial real estate broker to list and market your property and then negotiate the terms of the sale.
In most cases, these types of sales are for properties that have a mortgage higher than the value of the property. In the residential market, sales such as this type are approximately 75 percent of the market. It’s a lower amount in the commercial market as the difference between market price and mortgage debt can be in the millions of dollars, not thousands.
Once the broker finds a buyer for your property and negotiates a sale price acceptable to the buyer, we’ll start the negotiations with the bank. We’ll work to get terms that are acceptable to you, but ones that the bank will find acceptable.
In most cases, a distressed property sale will probably be the tool of last resort for the bank. They don’t want to lose money, but they also understand that if they take the property back, they will be on the hook for maintenance, upkeep, and other terms of the tenant leases.
You know the value of your commercial property just isn’t what it used to be. Leasing rates are down – if you can find tenants at all. If only you knew how to renegotiate your commercial loan! That’s where we come in. We have the experience of working with the banks to find you the best terms for your loan.
If you want to sell, we’re here to work with the bank to ensure they agree to terms that are satisfactory to you as well. Plus, we can help put you in touch with commercial real estate brokers to help you with the sale of your property.
If you’re like many in the commercial real estate industry, you have a building that is producing revenue. You have long-term tenants who pay their bills on time and could contribute to your financial well-being.
The problem is you bought or built the building when times were good; when lease rates were at their highest, and tenants were easy to find. Today, the lease rates just don’t cover the bills – and that’s when you can find a tenant to sign a lease.
The building was a dream investment for you and you don’t want to let it go. That’s where Short Sale Pro can help you. We’ll negotiate with the bank to work out your loan commitment, often getting terms that will help you survive as business rebounds.
After all, the bank does not want to take your property. They want you to be successful so they can recoup some of their investments.
Let us help you succeed as well. We’ll work with the bank on your behalf to find a solution for you.
Simply fill reach out to start a conversation with us.
WHY HIRE US
You hire a lawyer for your legal work.
You hire a doctor for your medical diagnosis.
You hire a general contractor for your construction.
You hire an architect to design your building.
You need to hire a professional to negotiate with the bank as well.
Short Sale Pro is the professionals you need to hire! We know the ins and outs of negotiating with the banks. We’ve spent thousands of hours talking with the people who can approve your terms. We know what they are looking for – what they will agree to and what they won’t.
Best of all, hiring us saves you time. Did you know the average time spent on the phone with a bank negotiating a loan is over 20 hours? You have other things to do than spending it on the phone with banks.
We will find the best solution with commercial loans for you or your client, giving you the time you need to do the things you’re great at.
Fill out the form below and get started today.
NEED A BROKER?
Short Sale Pro is not a commercial real estate broker. Our strength is working with brokers and owners of commercial property to negotiating with the banks to find a solution acceptable to all parties.
However, if you are looking at all of your options, it is essential that you work with a qualified commercial real estate broker to determine the market price of your property and to find a potential buyer if you need to sell.
Our firm has worked with dozens of commercial brokers and will help you find one that will fit your needs.
Please fill out the form below to get started.
We’re not commercial real estate brokers. We are a negotiation firm that specializes in working with the banks on our client’s behalf.
This means we are regularly in front of owners of commercial property who are looking to sell and need your services.
We believe that business works both ways and we’ll be happy to start referring potential clients to you. After all, with the amount of time saved by working with the Short Sale Pro team, you’ll have time to work with new clients and close the deals you want to close.
Your goal is to sell the property. You’re good at it. You know how to find a buyer for your client’s property, negotiate the terms of the sale, and close the deal.
The only problem is that, in this day and age, chances are your client owes more on the commercial mortgage than what the property can sell for.
Who do you call at the bank to get answers? Will they call you back? What is the bank looking for? Does the bank simply want to take the property back rather than negotiating a short sale?
For most brokers, this is unfamiliar territory. But for Short Sale Pro, this is where we love to be. We’ve built up the relationships from years of working with the bankers. We know who to call and what to ask for in the negotiations. We’re equipped to get the best possible deal for your client to make the sale happen.
The question for you is “do you want to spend your time on hold with a call center or do you want to go close your next sale?” If you have the time and patience to deal with banks as we do, we’re not the right fit. If you want to focus on closing your next deal, turn the hassle of bank negotiating over to us.
Simply schedule a confidential call to discuss your situation and determine a path forward.