Don't List Short Sales- If You Don't Know How To Do A Short Sale!
Seller's who need to sell because they cannot afford their monthly payments, do to some type of harship, should definietly consider a short sale. Unless, of course, they can arrange some type of re-negotiation with their lender. They shouldn't wait until they start getting foreclosure notices. Contact your lender right away. The banks do not want to own real property. An agent with experience can get the job done.
I have experience with short sales in South Jersey, Atlantic County. My short sale package is complete and reviewed by the lender the first time. Antoinette Murphy, GRI, RE/MAX Atlantic, Absecon, New Jersey Contact me directly at 609-412-5703 www.BuyOrSellnj.com
Don't list those short sales unless you know what you are doing! STOP! Do not pass Go until you know!
We listed a home while we were helping homeowners with their foreclosure options at the HOPE Taskforce Workshop this past Saturday.
This single mom who had been divorced since they had purchase their home can no longer pay her mortgage payments.
She had her home listed with an agent and this is what the agent told her:
- Countrywide turned down your short sale because you do not qualify.
- Countrywide turned down a $115,000 offer on your house.
- You need to give me your 401K and IRA account statements.
- You can not longer do a short sale because Countrywide was just bought by Bank Of America and so they are not going to do any more short sales!
SO the agent cancels the listing and leaves this lady hanging out to dry.
This was totally irresponsible and NOT true. The truth is:
- Countrywide turned down her short sale because of missing documents that the homeowner did not know were missing and the agent did not collect.
- Countrywide did not accept the $115k offer because the last sold in that neighborhood was over 250K! DUGH!
- Countrywide does not require IRA statements and IRA's in Florida can not be forced to be cashed out to pay deficiencies.
- Countrywide is still doing short sales, we close them each month and they are still answering the phone as Countrywide. Bank of America also does short sales.
This agent did NOT do the following:
- She never told the homeowner what she was listing the house for.
- Never gave the lady a copy of her listing agreement.
- Never took any photos nor asked the homeowner for any photos for mls.
- Communicate with Countrywide other than sending in an incomplete package.
- Did not keep in touch with Countrywide and follow up.
- Did not do a CMA on the property.
- Put the wrong number of bedrooms in the mls and left all the other fields blank.
SO why did this agent even take this listing in the first place? What for? I don't get it!
If your home is in foreclosure or you can no longer make your mortgage payments choosing the right agent is not only more important than ever, it is crucial to the outcome of your short sale.
Please ask questions and find out if the agent you are choosing knows how to do short sales!
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Contact Nestor Gasset and Katerina Gasset, CIPS, Realtors®, International Properties and Investments, Inc. Licensed Realtors® in Florida at 561-753-0135 to list your property for sale or to purchase a property in Wellington, Royal Palm Beach, Loxahatchee, Lake Worth, Hypoluxo Island, Lantana, West Palm Beach and the rest of Palm Beach County Florida and Port St Lucie Florida. We are accepting referrals.
Call us today at 561.753.0135 or Toll Free 800.444.3316. Contact us by email if you prefer by clicking on email me on the right side of this page under our profile.
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P.S. If you are listing your home as a short sale in Palm Beach County Florida and Port St Lucie Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 561-753-0135 to find out more about Palm Beach County Short Sales and Port St Lucie Short Sales.
Copyright © 2008 By Katerina Gasset, All Rights Reserved.* Don't List Short Sales- If You Don't Know How To Do A Short Sale! *
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