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Foreclosed-Upon Seller Says: "I Should Have Hired You"

By
Real Estate Agent with Elizabeth Anne Weintraub, Broker DRE #00697006

317 Laver Court, Roseville, CA 95661I received a phone call yesterday from a very unhappy seller whose name sounded vaguely familiar. Apparently, we had a conversation last year about selling his home as a short sale. He was now calling to let me know that although he had listed his home with some other agent, had received an offer and submitted that offer to his short sale lender, the lender had instead foreclosed. He was frustrated with his agent and felt his agent did not have enough short sale experience to help him.

His exact words were: I should have hired you.

Well, why didn't he? That was the obvious question I wanted to ask, so I did. It seemed that this guy had no intention of hiring a Sacramento short sale agent when he initially called me. He just wanted to pick my brain, ask questions and then hire a friend of his who had a real estate license. Now, he was blaming his friend that his home had gone to foreclosure. On top of that, he had taken out a home equity loan. Although this second loan had been wiped out by the foreclosure, it was not gone. Hard money lenders have the right to pursue borrowers and try to collect.

The truth is there are a lot of things that can go wrong with a short sale. Too many to list in this blog at the moment. And while there is absolutely no guarantee that any short sale agent can prevent a foreclosure, at least an experienced short sale agent might have reduced those odds. I felt sorry for the guy because he's hosed. I suggested he call a lawyer.

Here is a new short sale in Roseville. This is a remarkable home with four bedrooms, three baths, soaring ceilings, and a pool. Probably the best feature about it is the back yard. It's huge; the lot is more than 15,000 square feet at .36 acres.  It's located in the Courtside subdivision, a little bit south of Douglas Boulevard and Eureka Road.

The first floor features a tiled entry, step-down living room, formal dining room, bright kitchen with a skylight and breakfast nook, a coveted downstairs' bedroom, guest bath, and a family room with a fireplace. Both the family room and kitchen overlook the pool area.

On the second floor, you'll find 3 more bedrooms, one of which has teak hardwood floors. The master suite is spacious with curved windows and a walk-in closet. There is another closet in the master bath, coupled with a jetted tub and separate shower. All together, the home boasts about 2,521 square feet.

A heritage oak stands proudly in the front yard. The back yard has maple trees, mature oleander and rose bushes, but they are all located a reasonable distance from the pool so leaves aren't falling from overhead into the water. It's a very private yard. You really can't see any neighbors.

317 Laver Court, Roseville, CA 95661 is offered exclusively by Lyon Real Estate as a short sale at $349,000. For more information, please call your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759.

Photos: Elizabeth Weintraub

317 Laver Court, Roseville, CA 95661317 Laver Court, Roseville, CA 95661317 Laver Court, Roseville, CA 95661

 

 

 

 

 

 

317 Laver Court, Roseville, CA 95661317 Laver Court, Roseville, CA 95661317 Laver Court, Roseville, CA 95661

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Weintraub and Wallace Realtors

 

 

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

Comments (9)

Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

Elizabeth: The exact scarior you decribe has happened to me a few times. Sometimes I wonder what I could have done better in order to convince the caller that they should really trust ME to take the listing.

May 21, 2010 02:59 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Elizabeth:  I just went through the short sale brain picking that turned into, "We're going with our friend instead of you."   I imagine they will get a similar outcome, or a much more drawn out experience than they need to.  You wouldn't ask a friend whose a General Practitioner in Medicine to perform a special procedure just because you asked the Specialist how to do it.  Good luck with the new Roseville Short Sale.  Love a two story family room. 

May 21, 2010 03:02 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Hi Melissa: I suppose it's happened to me more often than I know because most of them probably don't call to admit their mistakes.

Hi Chris Ann: I never pressure people into listing with me. They either want to or they don't. It makes no difference to me which way it goes. But this was the first time that I can recall when a seller actually said he was sorry that he made the wrong choice by hiring somebody else.

sacramento short sale agent

May 21, 2010 03:15 AM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Elizabeth, very interesting that the seller called you to acknowledge he should have listed with you. Few people would have done that--makes me feel a bit sorry for the guy. Hope you have a great outcome with your Roseville house--it looks great.

May 21, 2010 03:55 AM
Daniel J. Brudnok, REALTOR
Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038 - Downingtown, PA
SRES, e-PRO,ABR,GREEN,CSP

Elizabeth,

I have a source who does rentals for a living and she gets many applications a step ahead of foreclosure....and no matter what she says to them about talking to me OR any Realtor, many choose to just lose....it is nuts.

May 21, 2010 03:57 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Doesn't really help when they are using hindsight does it?

May 21, 2010 04:43 AM
Christine Hynes
American Capital Corporation - Laguna Beach, CA
Orange County Senior Loan Consultant

This is too common these days unfortunately. People just dont realize that short sales are much different than a standard home listing, they need someone who has short sale experience in order to have the best chance of success.

May 21, 2010 10:09 AM
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

Sometimes I wonder when all the experienced agents or their clients are going to start filing grievances with their local board, for operating in a field with no experience.

They get a few letters in their files and they will be gone.

The sellers are harmed like this one was and will pay for it for years.

May 22, 2010 04:45 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Elizabeth - Every shortsale is certainly a different challenge.  Whether it is the buyer, seller orbank you must be on top of your game.  Lot's of curveballs. ~ Doug

May 22, 2010 07:11 AM