Special offer

The caller wants to buy the house! Now all we have to do is find the seller!

By
Real Estate Broker/Owner with Richard Weisser Realty

 

When the homeowner disappears, the house decays quickly and mercilessly.This happens more and more frequently these days. A homeowner finds themselves in desperate straights and attempts to sell their house. There are no offers, and the listing expires.

The homeowner abandons the property, assuming imminent foreclosure and yet the property just sits there, vacant and decaying.

The property then descends into the Hades of real estate “No Man’s Land.” The lender has not taken title, and the owner is nowhere to be found. The former listing agent does not have a clue because the client did not communicate their intentions before disappearing.

And of course, now interested buyers are calling about the vacant house wanting to make an offer. And I would love to accommodate them.

If I could just locate the owner!

 

Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Richard, Your scenario is happening more and more often...prior to our current issues, we faced expired listings that were off the market when a buyer came back in to the picture - those deals can be worked, but the walk away is a hard one to resolve.

Sep 30, 2010 01:03 AM
Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Richard,

Interesting conundrum you face there. I guess it depends on how much and good a detective you want to be.

Rich

Sep 30, 2010 01:20 AM
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

Richard, interesting problem to have...

Sep 30, 2010 01:21 AM
Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional

Steve...

It seems that all you can do is wait ...while the house falls apart. Thanks so much.

Rich...

Apparently, I'm not THAT good! lol and thanks.

Michael...

It happens a lot more often than you would think. Thanks so much.

Sep 30, 2010 01:53 AM
Broker Patty Da Silva Da Silva
Green Realty Properties® - 954-667-7253 - Cooper City, FL
Top Listing Broker

An uncooperative seller makes any attempt to help literally impossible.

Richard, I enjoy your photography tremendously.

Sep 30, 2010 01:59 AM
Manuel Monserrate
Raleigh, NC

I wish re agents would be allowed to place a tracking device on their clients when they take a listing.... Hmmmm..... Maybe someone can figure a way to work that into a listing agreement.

Sep 30, 2010 02:09 AM
Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

A sad sign of the times.  Perhaps this is a lesson to us all when we list a home in having this discussion with the seller.  Let them know the importance of staying in touch even if the listing expires.

Sep 30, 2010 02:33 AM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

well Richard it's especially an issue if you didn't have the listing...many times i've found a buyer for an area that doesn't find what they want & i contact the expireds in the area...i do go to the town hall to see if foreclosure proceedings are imminent before i start any interest in the property for a buyer though...it's an issue

Sep 30, 2010 03:08 AM
Kathryn Maguire
GreatNorfolkHomes.com (757) 560-0881 - Chesapeake, VA
Serving Chesapeake, Norfolk, VA Beach

It is simply amazing to see all of the things going on in this crazy market.  More and more people are just throwing up their hands and giving up.  Good post!

Sep 30, 2010 03:26 AM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Richard....it's terrifying to think of the market getting worse, but it certainly is becoming more realistic, isn't it??? 

Sep 30, 2010 03:51 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Richard,I love the comments from #6.....putting a tracking device on clients...:)

Sep 30, 2010 05:33 AM
John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana

Thats one problem I haven't had as of yet.  A homeowner MIA.  I have had a hard time finding out who's in charge to make decision on short sales.

Sep 30, 2010 06:37 AM
'The Diamond Group' 'A Cut Above The Rest'
The Diamond Group @ Keller Williams - Lubbock, TX
Lubbock Texas Real Estate

Richard, I haven't seen that in our market, but it sure is a scary scenario

Sep 30, 2010 07:45 AM
Sussie Sutton
David Tracy Real Estate - Houston, TX
David Tracy Real Estate for Buyers & Sellers

Yeah I have prospect that I spoke to today who said he must sell his 3 year old home and buy a newer home (w/5 bedrooms) as his family has grown. BUT HE MUST SELL HIS EXISTING HOME!

Well roll up my sleeves and get after it!

Coming to you from Texas,,,

Sep 30, 2010 07:45 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I seam to have a lot more problems with disappearing buyers.  NOt to say that the sellers don't, but I have not had this problem.   LUCKY ME!!!

Sep 30, 2010 09:03 AM
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

Richard, That can certainly be a dilemma, a ready willing and able buyer but no seller in sight. Best of luck in finding that seller so you can put a transaction together.

Sep 30, 2010 10:38 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Yes Richard, we had a similar situation. Buyer was ready and willing to make the deal and seller is MIA!

Sep 30, 2010 07:22 PM