Can you help me buy a house Until my Short Sale Closes ?

By
Real Estate Agent with Keller Williams 414-525-0563 57026-90 Broker

  We furnish both buyers and sellers of our short sale listings with information...in the case of Sellers...a whole folderUpside Down House that has everything from the forms that they will need to complete to the steps involved in the process of a short sale.

    People see and hear what they want to see and hear...and the reality of what can mean down sizing...a different neighborhood....a different lifestyle dictated by the hardship of a short sale comes at different times for different people.

 Hardship     We explain to Sellers at our first meeting, that while we understand that buying another house when you are doing a short sale...may be akin to getting a marriage license immediately following a divorce (in Wisconsin the ink has to dry on the divorce decree for 6 months to remarry.)  BUT ....there will come a time when they become the Boomerang buyer and will bounce back to becoming a homeowner again some time inBoomerang the future....just as marriage may well be better the next time around.       The bittersweetness of an accepted offer on their short sale means that the reality of moving can now be measured in days not months...and the hunt for a new home begins. One they envisioned would include a yard for Rover and a fireplace for Ms Kitty ...so that everyone would feel at home.  Sometimes that "new home" does not mirror those "start over" dreams immediately.

      There is no "one answer" for how long you have to wait to buy a home after a short sale because there are lenders that keep their loans in house and do not have to play by the federal rule book when it comes to mortgages.  We have made it our business to seek out those lendersanswers...there is a not a "one size fits all" situation in rebuilding your life after a short sale.  Some require larger down payments, higher interest rates...But shorter waiting periods. 

    Know that we have a wealth of resources for boomerang buyers or buyers who are now Buyers after a divorce and have not ever purchased a home on their own.  We are here to help you ....not just with the sale of your home, but with Fresh Startstarting over and becoming a homeowner again.

     If you or anyone you know is looking to "start over" OR for reasons of hardship, needs to do a short sale, Sally & David Hanson, Broker Associates at Keller Williams in Southeastern Wisconsin would be honored to be "at your service."

 

Posted by

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


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Rainmaker
2,142,268
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Good morning Sally and David. You are there with the right advice for those who have been caught short! Enjoy your day!

Jul 15, 2017 06:42 AM #1
Rainmaker
1,277,112
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Realty One Group - Carlsbad, CA
Presence, Persistence & Perseverance

Sally K. & David L. Hanson Great approach to this issue, and add to that that normally, owners dealing with a short sale are in arrears which makes it profoundly difficult to buy anything else for a while.

Jul 15, 2017 06:44 AM #2
Rainmaker
1,533,253
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

You are definitely knowledgeable about real estate in your area, people would be wise to give you a call.

Jul 15, 2017 06:50 AM #3
Rainmaker
3,017,111
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Sally K. & David L. Hanson ,

Once again you have presernted solid information for those in a short sale situation!

Jul 15, 2017 07:12 AM #4
Rainmaker
2,138,678
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Sally and David,  Interesting blog and I wish I knew more about short sales because it only a matter of time again and we will have lots.

 

Jul 15, 2017 07:45 AM #5
Rainmaker
3,953,554
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thanks for sharing your experience. Many short sale sellers do not fully understand the impact of the transaction.

Jul 15, 2017 08:07 AM #6
Rainmaker
2,583,104
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hi Sally and David --- yet another refreshing post with your always clever and insightful musings.  

Jul 15, 2017 10:04 AM #7
Ambassador
1,186,646
Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Gateway to the Lake" 503-755-2905

Sally and David, this is full of GREAT info and I learned something today, so I'm SURE that your buyers will as well. 

Jul 15, 2017 10:17 AM #8
Rainmaker
3,478,143
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Anyone thinking of buying or selling a house in your area should call you. 

Jul 15, 2017 02:23 PM #9
Ambassador
2,862,434
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Sally and David- I've said this before but if I were a seller or buyer with any of these issues, I would want to know that the Hansons were there to walk me through this. 

Jul 15, 2017 04:28 PM #10
Ambassador
3,110,667
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Sally and David, I can't imagine someone doing a Short Sale and have the kind of down payment a portfolio lender or hard money lender is going to want for the new purchase.  But I guess there are all sorts of reasons for doing a Short Sale and if they have the means for purchasing again it may work the second time around.

Jul 15, 2017 07:08 PM #11
Rainmaker
2,067,455
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Sally.  I did only one short sale, the sellers had owner financing immediately on another place.  Sad thing is three years later they filed for bankruptcy

Jul 16, 2017 01:53 AM #12
Rainmaker
1,221,676
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Sally and David - you are a wealth of information for people who really need it 

Jul 17, 2017 03:53 PM #13
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Rainmaker
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Sally K. & David L. Hanson

WI Realtors - Luxury - Divorce - Short Sale
For All Things Wisconsin Real Estate...Call the Hansons
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