How to Submit an Offer on a Shandrow Group Listing

Dear Selling Agent:

The following information should help you better prepare for submitting an offer on a Shandrow Group listing.

The information will be detailed in two parts:  1) Required Documents and Process, and 2) Buyer Offer Secrets.

Okay, this is the straight deal.

Please, please follow the process detailed below.   This will really help my team process your offer more efficiently.  No, even better, it will help your client buy a house or investment property.

Required Documents and Process

1)  Check the MLS.  The MLS is updated daily.  If the property is in back-up status, we are waiting on a signed contract back from the seller.  We typically do not submit offers until the property has been on the MLS for at least 48-hours; however, lately some clients of our clients have been selling homes occupied before they go on the MLS.

2)  All offers are to be submitted to offers@shandrowgroup.com.  Please put the property address in the subject line and use the SGi cover sheet.  You can download the pdf file here . . . SGiOfferCoverSheet.  This helps us and YOU because it creates a record of your offer being submitted with a time stamp

3)  Read the MLS directions carefully.  All offers will require the below listed documentation.  Please attach these documents in ONE PDF file.  Mongo fax works great and is usually free to agents.  If you can’t email, last resort is you can fax us at 562-364-9506 begin_of_the_skype_highlighting              562-364-9506      end_of_the_skype_highlighting.

Here is the list of required documentation to make an offer on a Shandrow Group listing:

a)  California Residential Purchase Contract with YOUR NAME, PHONE AND EMAIL on the bottom of the first page;
b)  REO or Short Sale Advisory (if applicable, and it usually is);
c)  Copy of Deposit;
d)  Proof of Funds;
e)  Pre-approval letter from the lender indicated in the MLS.  Almost 90% of the time, Shandrow Group will require a pre-approval from Nationstar Mortgage at 1-800-436-6350.   If you don’t know, they are probably your best bet.  Plus, they have “killer” loan programs for REOs.

This is just the base line.  This is what gets you “in the door,” so to speak.

If you have questions, please feel free to email them to offers@shandrowgroup.com.

Buyer Offer Secrets

Alright, onto the secret stuff.  The kind of things seasoned and experienced agents put into their offers.  I usually don’t tell people this stuff, but this will help smooth out the process for everyone.  Obviously, your client is free to write their offer any way they wish, but in our experience the following items help present a stronger offer.

First, follow the directions above.  That is really important.  Secondly, complete the CAR Purchase Contract with REO Advisory with the following items:

Page 1

1D Escrow 30 days, FHA 45 days

2A Good Faith Deposit 2% or More Preferred, made payable to “Escrow”

2I Loan Contingency Removal – 10 Days

2J Appraisal Contingency Removal -10 Days

Bottom:  Make sure your name, phone number and email are clear.

Page 2

4A Seller to pay up to $150 for termite inspection.  Don’t check (2) WPA.

4B3 Seller to pay up to $100 for NHD

4C1& 2 Smoke Detector & Water Heater compliance to be paid by Buyer.  Buyer will perform all property retrofitting.

4D1 Buyer & Seller each to pay each their own Escrow fees (if the seller is Fannie Mae, buyer to pay for ALL escrow fees)

4D2 Seller to pay Title (if the seller is Fannie Mae, buyer to pay for ALL Title fees)

4E1&2 Seller to pay County and City transfer tax (if the seller is Fannie Mae, buyer to pay for ALL trasnfer taxes)

4E3&4 (HOA & County transfer fees).  Buyer to pay all HOA documentation and transfer fees.

4E6 Buyer to pay $400 for Home Warranty

Page 4

14B Buyer Inspections Contingency to be removed in 7 Days

14C4 Buyer to perform 24 hours max

Page 6

15AE Property to be SOLD AS IS.  Seller will not pay for any lender required repairs.

Page 8

Be sure the EVERYONE signs this page and completes all contact info.  Make sure your license, contact numbers AND EMAIL are on the contract.

That is it.

I hope this helps.  Again, these are just suggestions but I have looked at at least 1,000 offers in the past few years and this is what works.

P.S.  Here is a standard counter that we send out.  This might help to get a jump on the game. . . . ShandrowGroupCounter

Good luck!

Mark Shandrow
Real Estate Broker
Shandrow Group