It has been my privilege to assist many homeowners over the last several years in Sonoma County successfully achieve an approved short sale. About three years ago I had my first client that needed to sell, but faced negative equity.
The phrase "short sale" was just starting to get around. Having been a broker for many years I knew I needed to get more education about the process, so I found a fabulous attorney who was an expert in the are of foreclosures and bankruptcy who provided a very expensive, but excellent 5 day program. It was a fantastic experience. I then felt much more capable of helping my clients through the short sale process. The process has changed somewhat over the last several years and the process is unique to each short sale lender.
This year I have achieved short sale approval for 13 of my clients. Let me be the first to say that 2 of those clients chose not to accept that approval and I completely supported them in that decision. They made the decision because my clients have an attorney help them interpret and review the approval letters and if they feel the terms of the short sale are not appropriate for them, then we do not proceed with the sale. My clients are happy because they have control over their situation and know that their agent supports them in finding a solution that is in their best interest.
Overall, I am very happy to provide assistance to my clients who desire to pursue a short sale. The process has it's ups and downs and it is certainly not without it's complications. But, in looking over the successes this year, so far, I feel more positive than erver that short sales are helping lenders, sellers and buyers achieve their goals.