Some people have the very much mistaken impression that if a home is being sold as a Short Sale, the sellers must be dead beats...financially irresponsible Know Nothings.....No ambition to get a "real job"....Those people with THOSE THOUGHT PATTERNS ARE WRONG....Unfortunately,it has been our experience that some of THOSE people are Realtors !!!!
- There are lots of reasons for hardship and more in a soft economy than there might be otherwise. Hardship is the reason for a short sale. Some examples that we have come across in the Short Sale part of our practice include:
* Unemployment, reduced hours or compensation
* Divorce
* Job Relocation
* Illness
* Death or a parent or spouse
* Forced Early Retirement
* Adjustable Rate that adjusted beyond the ability to pay
*Option Arms or "pick a payment" loans when the lowest payment was
chosen too often due to financial condition
* Overwhelming Medical expenses - loss of insurance due to job loss
Agents....when you leave showing report...when you are with your buyers...know that the condition of the house is the condition the sellers can afford...and if you are dealing with a listing agent that knows HOW to do Short Sales....and has not just READ about it.....the house is priced to sell...the sellers are in some sort of hardship situation...recognize it, be compassionate and understanding. Buyers know that the sellers are doing the best they can due to whatever their hardship circumstance and the patience you show while waiting for the lender's approval will be rewarded with the home you want at a price you would not normally pay.
If any or a combination of these situations sound like your own situation or someone you know...call us no matter where you are in the country and we will refer you to someone who has extensive short sale training and will be able to help you avoid foreclosure. We know, we care, trust a professional.
Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS
Well said. If you had it set up to re-blog, I'd re-blog it over to my site for my readers here in San Diego, for ti applies equally here as in Wisconsin.
Sally
Let it be known; you are a very compassionate person and anyone would be in the best of hands in Wisconsin with you my friend.
Sincerely
Tom Braatz
you have to be understanding with short sale sellers, as there is very little benefit for them to jump through hoops for buyers when the sellers gain virtually nothing in selling short
I think the most important reason to be understanding is that they are literally between a rock and a hard place...Short Sale is their salvation from Foreclosure....and for that savings, jumping higher and faster is what we ALL have to do !