How can Real Estate Professionals Help the Distressed Homeowner?
Now the majority of all Real Estate Professionals have dealt in some way with a short sale. It seems that since there are so many on the market that undoubtedly a Realtor in the area will write one up for a buyer. I think many Realtors out there, enjoy their career because it is about helping people. Well now is the time they are needed the most. Helping people out in the community. That's huge!! As Real Estate Professionals it is their job to educate the homeowner on their options.
Many sellers know the words "Short Sale" because it is all over the media. But, do they know it applies to them if they are losing their home to the foreclosure process? Do they know that a foreclosure will be more detrimental to them then a short sale? Do they know that even though they received the Notice of Default and Election to Sale letter that they may still have time to do a short sale? It's true. Many homeowners have given in to a foreclosure once they get that letter that gives them a date that they will be selling YOUR home on the courthouse steps. It is NOT too LATE for a homeowner to list their home as a short sale. They need to find a QUALIFIED Realtor to guide them in this process. Homeowners need to be careful in their selection and make sure they list with a Realtor that knows what they have to do to negotiate with the lender(s) to accomplish what is in the best interest of the seller.
A short Sale has been referred to by more than one real estate professional as a dignified solution to a financial crisis. The reality is that many homeowners today owe more on their home than what the home is worth in today's market. Homeowners in this situation usually do not know what to do. If a homeowner has exhausted all other options like a mortgage modification or refinance to name a couple. It may be time for them to do a short sale. Many factors are contributing to the hardship many homeowners are facing. Job loss, cut in pay, relocation, illness, business failure, and too much debt. These are just a few reasons.. The bottom line is that the homeowner can no longer afford their home and needs help from a professional who will guide them through the process of a short sale.
Make sure that you get an expert. You will be able to unload some of the stress and not feel so alone. Seek out advice from an attorney and of course your CPA. It sounds like a lot of work but in the long run it will be over with and you can start the next positive chapter in your life.