"Do Your Sellers REALLY have a hardship ?" asked the Selling agent

 One of the requirements....let's say the primary requirement for doing a short sale is that the Seller(s) have a financial hardship.  We don't know anyone who buys a house with the thought of at some time, having insufficient funds to make the mortgage payments...it is not a sought after or ever desired situation by any homeowner.

   Many times there are multiple hardships which may include things like unemployment and divorce or serious illness and job loss...death of a spouse and insufficient income.  We know the reasons for each short sale we list, we have seen the financial disclosure...we know that the expenses as minimal as they may be for the necessities in life, exceed the income of the homeowner.

What the nature of the hardship is...is documented to us.  We see no reason to document it to the "world" other than in the required hardship letter to the lender when we are seeking approval of the short sale. In some cases, Divorce for example, the hardship may be public knowledge. Court records are available to anyone who wants to research them. 

We see no reason to document whatever the hardship

to the Buyer or their agent. Life is tough enough for distressed sellers  without adding unnecessary problems to make things more difficult....airring the financial details of their hardship is unnecessary.
    If we list a home as a short sale, we guaranty that the Sellers  have a hardship. We believe that experienced agents who list short sales understand their professional and ethical obligation to make that determination before taking a short sale listing.

   The short answer to..."Do your Sellers REALLY have a hardship?"...is YES.

    If you or anyone you know is unable to pay their mortgage for reasons of hardship...Call the Hansons. If you do not live in southeastern Wisconsin, we will help you locate an agent with expertise that practices in your area. 

   

 

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS