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Do You Know What Distressed Property Owners Need?

Reblogger
Real Estate Agent with Veterans Realty Inc BK3111936

Original content by Gary Woltal 0575737

Couple TroubleSo,

Do You Know What Distressed Property Owners Need?

We are talking pre-foreclosure, heading toward a short sale, heading toward a possible REAL foreclosure. Knocking that credit rating down 200 points possibly for 7-10 years.

Well if you said how about a bunch of money, or some other kind of quick fix, you are not looking into the hearts of people as a real estate professional.

 

We would all like to have magic wands to cure people's ills from however they got into this MESS. And do not deny it is a mess and a stressed filled time of people's lives. Divorces occur because of financial woes. And don't be snooty thinking your time in this arena couldn't take place at the drop of a hat, as there but for the grace of God go I. Look at the reasons people get "distressed" and even YOU Mr. or Ms. Snooty could be there.

  • Job loss
  • Business Failure
  • Payment increase or mortgage adjustment
  • Divorce or death of spouse
  • Illness
  • Relocation
  • Reduced income
  • Mortgage fraud
  • Predatory lending

Assisting a homeowner in these tough times we can look at these options for them:

  • Refinance
  • Sell and bring cash to closing
  • Lender workout
  • Short sale (selling for LESS than the loan balance)
  • Deed in lieu of foreclosure
  • Foreclosure
  • Do nothing and walk away

In the most desperate of times a homeowner can file personal bankruptcy and try to move on with life and not jump off buildings. BUT, back to the question. WHAT IS IT THE DISTRESSED PROPERTY OWNER NEEDS FROM US, the professionals in this industry? You may find the answer hard to swallow, looking at the "perceived EVIL banks and lenders."

But from all of us, they need COMPASSION.

If they are truly trying to bail their lives out, drowning in a sea of financial troubles, isn't it the very least we can do is talk to them with compassion and understanding? Yes, this is business. But John and Mary Doe are people. We are talking REAL LIVES here. I encourage you to put a photo of the family taped to the short sale file package. A REMINDER to everyone that touches this situation that REAL LIVES are involved here and are being impacted. COMPASSION goes a long way in life!!!

Posted by

Kari Battaglia Realtor Venice Florida

Broker Associate helping buyers and sellers since 2004.  A Venice/Englewood area Florida resident for almost 44 years. Put my knowledge of the local neighborhoods and years of experience to work for you.  My coverage areas include Southwest Florida counties of Manatee, Sarasota and Charlotte including the communities of Venice, South Venice, Wellen Park (formerly known as West Villages), North Venice, Nokomis, Osprey, South Sarasota, Siesta Key, Lakewood Ranch, Manasota Key, Englewood, Rotonda West, South Gulf Cove, Grove City, Placida, Cape Haze, Port Charlotte, North Port and Punta Gorda.

Visit my website at www.KariBattagliaGroup.com

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KARI BATTAGLIA, PA
REALTOR Broker Associate ABR AHWD CRS GRI PSA SFR
Veterans Realty Inc
Past President Venice Area Board of REALTORS 2017
941-468-3852 mobile | Kari@KariBattagliaGroup.com
 
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Comments (5)

Jamie Friedman
eXp Realty - Kapaa, HI
Kauai Real Estate Connection

Great post! Without heart I don't think we can adequately do our jobs.

Jul 24, 2010 04:50 PM
Dan Edward Phillips
Dan Edward Phillips - Eureka, CA
Realtor and Broker/Owner

Hi Kari,  Thank you for an excellent post, very well said!

Jul 24, 2010 05:43 PM
John Pusa
Glendale, CA

Kari - Home owners experincing foreclosures going through very emotional stage. Thank you for sharing a very good blog.

Jul 24, 2010 06:21 PM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

These people that are in a distress sale position really need our attention and our compassion.

Jul 24, 2010 06:56 PM
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

I am curious I notice most of your posts here are a year old or much older are you still active here?

Feb 24, 2018 03:55 PM