Relocate to Wisconsin : I Will Do a Short Sale When It's Court Ordered, Said the Divorcing Wife

I Will Do a Short Sale When It's Court Ordered, Said the Divorcing Wife

    Divorce is an interesting niche in our real estate practice whch can be, understandably, very emotionally charged.

    no cooperationThe spirit of cooperation to maintain the marriage, the home and in some cases, just civil conversation, has long since been overtaken by anger and the blame for a situation that neither spouse welcomes.Upside down house

    While short sales are not as prevalent now as they were a few years ago, we see them because of our divorce niche. The second mortgage or refinancing that was done to pay for the....name that expense....has now made the mortgage(s) total more than the market price of the house.

     We are usually the people who explain why a traditional sale or refinancing the house is not possible for this particular situation and what a short sale is and how the process works.

     Misunderstanding Very often, there are misunderstandings as to what a short sale is and is not....often due to "a friend said...I read on the internet..." none of which is true.   I explained the process and the spouse listened intently. There were a number of "Yes...Buts..." with still more incorrect information as the conversation continued.   The last "Yes...But...." it would require to put together the documents that the bank requires for the short sale. Yes, of course, the Bank is forgiving tens of thousands of dollars in debt and they want the information supplied to be verified and accurate. No...No...No....there would be not more than five minutes taken for document production....the spouseno claiming the estranged spouse was at fault and could do it all. I calmly explained that was not how the process worked. Each person provided their own information as they are required to do for the court in the divorce and may be required to update paystubs and bank statements as the process progresses.

    In some cases there are lenders who require homeowners to "try" a short sale.  It is a far less expensive and less time consuming process than foreclosure...their goal is not to be further involved in real estate sales.  In those cases...No is not an acceptable answer and like it or not...the spirit of cooperation will have to prevail.  In other cases...the lender may not object and the spouse can continue not to cooperate and lose the house to foreclosure.

      If you know anyone who is going thru a divorce (likely you do given the divorce rate) know that they are best served by Realtors with divorce experience. In southeastern Wisconsin, call the Hansons, we would be honored to be of service.

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


home worth iconemail iconhome searchLinked In  facebook

Comment balloon 21 commentsSally K. & David L. Hanson • August 24 2016 03:50AM

Comments

Good morning Sally and David. Divorce can bring out the worse in people and having themmake terrible decisions! Enjoy your day!

Posted by Wayne Martin, Real Estate Broker (Wayne M Martin) almost 2 years ago

Home sellers will be in very good hands when they select you as their listing agent.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) almost 2 years ago

I agree with Roy. Home sellers  should take your advice when selling their house.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) almost 2 years ago

Roy Kelley  is right - sellers - divorcing or not- will be in great hands if they choose Sally K. & David L. Hanson to represent them in the sale of their home

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Keller Williams Capital Properties) almost 2 years ago

I am so glad that short sales are pretty much done in my market area. 

Posted by Joe Jackson, Clintonville and Central Ohio Real Estate Expert (Keller Williams Capital Partners Realty) almost 2 years ago

There are so many pieces to reassemble during a divorce. Selling a home without a Realtor who specializes in divorces will just complicate things. You're providing a great service.

Posted by Wayne and Jean Marie Zuhl, The Last Names You'll Ever Need in Real Estate (Samsel & Associates) almost 2 years ago

Good morning Sally and David. Your work is really hard and you do it with knowledge and integrity.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) almost 2 years ago

 Short sales are a challenge even when the sellers are speaking to one another!   If divorcing couples is a niche, it's not one I would embrace.   

Posted by Dianne Goode, Realtor/Broker (Raleigh Cary Realty) almost 2 years ago

Misunderstandings about short sales is common, but you two in southeastern Wisconsin are the experts!

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) almost 2 years ago

Each individually is a hard niche in its own Sally K. & David L. Hanson , add the 2 together takes a great agent like you who is willing and able to get it sold.

Posted by Scott Godzyk, One of Manchester NH's Leading Agents (Godzyk Real Estate Services) almost 2 years ago

Good morning, Sally and David --- when two major life events occur, having an expert(or two) on your side is important -- the real estate service you provide in Southeast Wisconsin is invaluable.

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) almost 2 years ago

Nice post on short sales. Thanks for sharing this, Sally and David! All the best!

Posted by Garreth Wilcock, Homes at Mueller (Sherlock Homes Austin) almost 2 years ago

Sally and David it is silly not to corporate especially since they do not really have an option, but that seems to be the nature of a div

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) almost 2 years ago

One of my least enjoyable home staging consults was a divorce situation. They were both still living in the home and not at all cooperative with each other. It was awkward to say the least.

Posted by Sharon Tara, New Hampshire Home Stager (Sharon Tara Transformations) almost 2 years ago

Hi Sally and David- emotions are so high during a divorce, they need a true professional like the two of you to help them through this period of time.  Listening to what others say or what they've heard or read over the internet can't replace speaking with true local experts who've done this type of work. 

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) almost 2 years ago

Good Morning Sally and David -  short sales can be the best way to get out.  I know a divorcing couple who cooperated and got it done 

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) almost 2 years ago

When it comes to a divorce and a home sale there is no better choice then having your assistance.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) almost 2 years ago

Some people just prefer to pull teeth by doing everything the hard way! I've been there every once in a while. Most people are fine upstanding people though. I have to evaluate people on a case-by-case basis.

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) almost 2 years ago

I agree that her assistance would actually help the situation tremendously, Gabe! P There is really no doubt about that!

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) almost 2 years ago

Sorry about the typo. I think there might be one. I know I shouldn't apologize for typos, but I'm nice and I don't know if I can edit them out lol.

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) almost 2 years ago

I've worked with reluctant spouses, often after the divorce, when one party deeded to the other and that hard-money second is still of record, and they have no idea of the consequences. I just get tough and say: let me tell you what's gonna happen when you refuse to cooperate, and I lay it all out. I've never had anybody refuse after that.

Posted by Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents, Put 40 years of experience to work for you (Lyon Real Estate) over 1 year ago

Participate