Do you want to sell or play games? A Short Seller who knows the system...

More often than not many people who are involved in a Short Sale can`t believe their home needs to be sold.
Some want to prolong the sale as long as possible,while others understand the reality it`s time to move on!
Our job as Realtors is to get the home sold.
Our job description requires us not to chase you down, beg or plead with you to sell,the sale price is determined by the lenders,not you or I!
We`re dealing with a client who has received 3 offers and refuses to sign off.
He`s indifferent to the offers, feels the offers should be higher and worse, i`m the second agent he`s pulled this crapola with.
Rather than continue to argue, we called him to discuss our future together.

The conversation is as follows;

Me: I`m at the point where it`s time we say goodbye. There`s no hope selling this home if you continue to refuse to sign the offers.

Short Sale Seller: The offers aren`t what I expected. I`m not into signing.

Me: The offers are intended for the lenders to review, not you! You`re caught between a rock and a hard place. Not much left to say.

Short Sale Seller: I still have a say here.

Me: Well that's not entirely true anymore. You`ve stopped sending the lender a mortgage payment each month. The responsibility of getting this home sold is really not yours.

Short Sale Seller: I want to stay in the home as long as i can. Your job is to prolong this!

There you have it. A seller who feels they can manipulate the lenders,Realtors,and buyer`s because they wish to remain in a home they`ve defaulted on months ago.
It takes all kinds in this world.Rather than argue, it`s easier to Terminate the listing agreement,than continue on..

Seller objects to a $900 settlement with lenders! Blames everyone for "Not doing their job"..

One for the books! A Short Sale in which the lenders agree to allow the sale of a home, a closing which can be completed in 30 days and a seller who decides to balk at the fact they must concede to the lender a whopping fee of ,drum roll pleeaazeee of $900 dollars.

Worse, the seller called to blame me as well as the attorney representing them for, are you ready, "NOT DOING OUR JOBS"..

After living in a home for over 1 year our seller has to finally vacate. Not too happily I must confess. They seem to want to prolong this insanity,I guess if you could why not?
The seller hasn`t made a single mortgage payment to the lenders, now faced with the harsh reality of vacating and compromising to the lenders a $900 check, the seller takes the "HIGH ROAD" and lays blame,nice,huh?

The conversation is as follows:

Seller: You folks didn`t do you`re job! I`m disgusted with you and the attorney!
Me: Are you kidding? You`re off the hook with the lender, the sale is finalized, you owe the lender $900 and you walk!
Seller: I don`t want to pay anyone,nor do I have the money!
Me: You haven`t made a mortgage payment in over a year!
Seller: I haven`t worked in over a year as well.
Me: Who`s fault is that?!
Seller: I couldn`t find a job. I don`t have anywhere to go!? What do I do now?
Me: I`m sorry for you`re circumstance, it`s time to move on. I suggest you beg,borrow or steal for the $900 to clear your name!
Seller: Clear my name? I owe everyone!

That was it! A seller who refuses to work, a home we finally sold and $900 in payments to the lender the seller flatly refuses to pay!
Some days it`s not worth waking up! Yesterday was one of them...

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.