Think Experiences doesn`t count? Guess Again...

Sometimes people list homes with their relatives and friends. They don`t really know if they`re qualified or not.
Selling a home involved in a "Foreclosure or Short Sale" requires someone who has experience in dealing with these type of transactions.
Bringing the home to the closing table is difficult,it requires time and the knowledge to ask the right questions to the lenders.

Two days ago a client came to our office seeking advice on how to proceed with a short sale that has been in limbo for 7 months! Apparently, the reason the sale hasn`t been approved is due to "Sale Price, Liens placed on the home by the HOA and citations from the city of Davie, Florida.
The agent who took the listing wasn`t too familiar with dealing with liens,nor did they know about the citations the city levied on this home.
They also didn`t recommend an attorney who could assist with the transaction.

The owner has been served with Foreclosure and will eventually see their home sell on the court house steps.

Could this have been prevented?
When dealing with a "Short Sale" the first 60 days are crucial! Either you`re satisfying the lender or the HOA within that amount of time or face the possibility of not closing.
Lenders, have committee`s who prioritize homes with the right paper work, they don`t like to chase paper work. In the "Loss Mitigation" department papers tend to get lost or misplaced on a daily occurrence.

Without the correct follow- up, it`s almost impossible to get these transactions closed.
The seller who came to our office needs to hire an attorney to deal with the city and the HOA.
Had this been done once they received the offer, i`m positive this home would have closed already.
The hiring of a Realtor does matter.