SHORT & SIMPLE SHORT SALE TIPS - DON'T TURN OFF THE ELECTRIC AND WATER!
Yes good information. I have also found it helpful to keep the front yard looking good. Here in Brentwood California the city will start to fine you if the yard looks over grown or brown. Then they put a lein on the property which then has to be negotiated in the short sale. Most banks do not like to see this type of lien and the seller ends up paying for it in the end. It is much better to just keep the yard looking good.
This also goes for paying the HOA fees....this can kill a deal! I know sellers are in distress but it is important not to have added liens on the short sale.
I feel it is best for all for the homeowner to stay in the home and maintain as long as possible.
Shannon Coe
SHORT & SIMPLE SHORT SALE TIPS - DON'T TURN OFF THE ELECTRIC AND WATER! When you list your property as a short sale it is critical that you leave the electric and water on even if you move out of the property. I always tell my sellers this very clearly and explain that it can make a contract fall apart when the buyer goes to have the home inspection done.
Yesterday (Yes, on Sunday and Halloween) I scheduled a home inspection as we were under tight time constraints per contract. Unfortunately I got a trick instead of a treat - the seller had turned off the electric and water and now my buyer has only a structural inspection.
I notified the listing agent of the problem and am waiting to hear back from them regarding getting the utilities turned back on. As it can sometimes take 2 of 3 days here to have utilities turned on this could very well result in the buyer cancelling the contract if this doesn't get resolved quickly.
A short sale is a much better option than foreclosure so when you list your home as a short sale make sure you keep the home in great condition. Keep the home clean and free of odors, keep the yard maintained, don't take items you agreed to leave (such as the appliances, ceiling fans and lighting) and leave the utilities on so the inspections can be done.
Real estate agents work very hard to get a short sale approval so don't let the transaction fall apart so you can save a little money on utility bills - it's not worth the savings.
Terry McCarley, CDPE - Re/Max Realty Team - Specializing In Assisting Distressed Homeowners - 239-707-4575
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