1. Short Sale Nuts & Bolts Power Session Brought to you by America's Home Rescue ~ Course Instructors ~ Michael & Stacy Spickes Founders of America’s Home Rescue 2008-2009 NAR Convention and Mid-Year Legislative Speakers Broker Agent Speaker’s Bureau Licensed REALTORS® Austin, Texas www.AmericasHomeRescue.com

2. America's Home Rescue ~ Nuts-and-Bolts Short Sale Training for Real Estate Professionals ~ Copyright © 2011 America's Home Rescue, LLC 5 Keys to Successfully Closing Short Sales: 1) Knowing the proper Step-by-Step Process, depending on the type of loan that you are shorting. The process for shorting an FHA loan is different than the process of shorting a VA or Conventional loan. So knowing the proper steps, and the order of those steps, is critical. Take-Away: Know what type of loan the Seller has!!

3. Copyright © 2011 America's Home Rescue, LLC 5 Keys to Successfully Closing Short Sales: 2) Knowing what components each of the Lenders require for their Short Sale Package, getting a copy of the Lenders Short Sale Package in a timely manner, and then submitting that Package, in its entirety and in a format that will get the banks attention, meet their requirements and ultimately get you an approval. Take-Away: Never submit an incomplete package!! America's Home Rescue ~ Nuts-and-Bolts Short Sale Training for Real Estate Professionals ~

4. Copyright © 2011 America's Home Rescue, LLC 5 Keys to Successfully Closing Short Sales: 3) Knowing what the Lenders have to “net” in the Short Sale. All Lenders have a bottom-line amount or percentage that they have to “net” in the transaction. Knowing that net is absolutely imperative for you, the Agent, to know so that you know where to price the property in MLS, so that you generate an offer that will be both quick, but also sufficient to meet the bank’s net requirements, cover all of your clients closing costs, as well as cover all the commissions at closing. Take-Away: Know what the Lenders need to NET!! America's Home Rescue ~ Nuts-and-Bolts Short Sale Training for Real Estate Professionals ~

5. Realtor of the Day Copyright © 2011 America's Home Rescue, LLC

6. 5 Keys to Successfully Closing Short Sales: 4) Knowing what terms the banks will and will not approve in your Buyer’s Purchase Contract. Take-Away: Know when you can or cannot get Buyer’s Closing Costs or Repairs Covered!! America's Home Rescue ~ Nuts-and-Bolts Short Sale Training for Real Estate Professionals ~

7. Copyright © 2011 America's Home Rescue, LLC America's Home Rescue ~ Nuts-and-Bolts Short Sale Training for Real Estate Professionals ~ Buyer’s Closing Costs What are the general rules regarding getting any Buyer’s closing costs covered in a Short Sale? Whether or not Buyer’s closing costs can be covered in a Short Sale depends on two things: 1.What type of loan the Seller has 2. What type of loan the Buyer is bringing What type of loan does the Seller have? What type of loan does the Seller have? FHAVA/Conv. What type of loan is Buyer bringing? FHAVA/Conv. Typically, the max allowed is 3% of Sales Price and Buyer must be offering at FMV. Max 1% of Buyer’s Loan Amount None!!

8. Copyright © 2011 America's Home Rescue, LLC America's Home Rescue ~ Nuts-and-Bolts Short Sale Training for Real Estate Professionals ~ 5 Keys to Successfully Closing Short Sales: 5) Establishing your credibility and your rapport with those Loss Mitigation Reps at the banks that will get your Short Sales approved and closed. Take-Away: Never get nasty with the LMR!!

9. Obtain Lead Closing Appraisal Qualification via Phone Listing Appointment Acceptance into Program SS Package to Lender Active in MLS Contract Approval Active in MLS Contract Appraisal Approval 5-10 Days 24 Hours 1-30 Days 5-30 Days 1-30 Days FHAVA & Conventional 5-30 Days 3-5 Days 48 Hours Establish Communication with Bank 5-30 Days Copyright © 2011 America's Home Rescue, LLC

10. America's Home Rescue ~ Nuts-and-Bolts Short Sale Training for Real Estate Professionals ~ FHAVAConventional What does the Lender need to net at closing? 88% Day 1-30 86% Day 31-60 84% 61+ Days 88% +/-85% (Based on Percentage of the Current Market Appraised Value) No less than 80% in High-Foreclosure Areas

11. Copyright © 2011 America's Home Rescue, LLC America's Home Rescue ~ Nuts-and-Bolts Short Sale Training for Real Estate Professionals ~ Short Sale Math Step-by-Step Process 1.Establish Net to Bank or “Foundation” 2.Factor in Miscellaneous Expenses/Fees 3.Factor in Commissions and Closing Costs 4. Negotiation Buffer Math Scenario $250,000 X.85 $212,500 + $1,000 + $1,500 $215,000 /.92 $233,696 /.97 $240,923 Market Value Lowest Offer MLS List Price Delinquent HOA Dues Property Taxes

12. Copyright © 2011 America's Home Rescue, LLC America's Home Rescue ~ Nuts-and-Bolts Short Sale Training for Real Estate Professionals ~ Bringing Solutions to Millions of Struggling Homeowners Bringing Solutions to Millions of Struggling Homeowners The CDRS Network is being promoted to up to 96 Million Households!!! The CDRS Network is being promoted to up to 96 Million Households!!! Strategic Partnership with Lifetime Television An Absolute MUST for your Business Plan in 2011 and beyond!!

13. Copyright © 2011 America's Home Rescue, LLC America's Home Rescue ~ Nuts-and-Bolts Short Sale Training for Real Estate Professionals ~

14. America's Home Rescue ~ Nuts-and-Bolts Short Sale Training for Real Estate Professionals ~ Limited-Time Special Pricing: $397 (Regular Price: $597) Limited-Time Special Pricing: $197 (Regular Price: $247) Limited-Time Special Pricing: $129 (Regular Price: $199) Limited-Time Special Pricing: $426 Save $370 (Regular Price: $796)