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"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 ... more
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