Short Sale Sellers - If You Want to Avoid Foreclosure - "You" Must Participate

Reblogger Gabe Sanders
Real Estate Agent with Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales 3090099

Realtors can help you sell a home before a foreclosure.  But, you need to assist with the process:

Original content by Wendy Rulnick

Short sales

After this last week of trying to help short sale sellers unload their upside-down properties, I’ve experienced a whole range of assistance.  Or not.

1. Seller will not return four phone calls and two emails asking if they can do a $1000 cash contribution to dispose of a $150,000 mortgage.  Not even an acknowledgment.

2.  Seller will not upload info into Equator, after being under contract for four weeks

3.  Seller finally faxes listing agreement and short sale documents to us sent to him six weeks ago.

4.  Seller has not sent us the last two paystubs, after being under contract a month

5.  Seller contacts us with a foreclosure sale date in five weeks, has never even listed the house

6.  Seller, who is an attorney, finally faxes us listing paperwork one week before foreclosure.  Too late.

 

And it goes on.  In return, these sellers expect from their short sale listing agent:

1.       Sell their house—quick!

2.       Take care of all their lender requests

3.       Call their lender and stay on hold for hours a day, every day

4.       Repeatedly fax hundreds of documents on their behalf

5.       Keep the buyers waiting for six months

6.       Negotiate the best terms for a short sale approval

7.       Call and email them to continually ask for cooperation

 

Sellers – if you are serious about doing a short sale instead of a foreclosure, beShort sales prepared to do some work on your own behalf.  Your work will include gathering all requested financial documents in a timely manner.  (Timely manner means with a few days, not weeks. ) This will include gathering bank statements, pay stubs, profit and loss statements, tax returns and more.  This may also include filling out your specific bank’s forms.  You may have to do this multiple times. 

Consider paying $1000 or more on your own behalf to dispose of $100,000 or more debt.  Consider paying a promissory note of $5000 over several years at no interest, to do the same. Be honest.  Roll up your sleeves.  Return your real estate agent’s phone calls.  Participate.  Avoid foreclosure.  Get your short sale approved. 

It may not be convenient, but it’s your credit, and your financial future.  Take responsibility for it.

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy's Destin Real Estate Blog

Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County-  Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. 

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Rainmaker
1,524,438
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

It really is just seller motivation.  The seller will be involved in the process if they want a deal!

Mar 18, 2010 11:25 PM #1
Rainmaker
526,617
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Gabe - Thank you for spreading the word.  Cheers to cooperative sellers!

Mar 19, 2010 01:20 AM #2
Rainmaker
382,670
Matt Listro
National Credit Fixers - Matt Listro - Vernon, CT
Your Credit Repair Expert

Hi Gabe: Nice reblog - sometimes we get caught up in blaming the "banks" for such a long short sale process - I wonder how much of it is the seller's fault too.

:)

Mar 22, 2010 03:18 AM #3
Rainmaker
4,797,884
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thank you for stopping by and taking the time to read my re-blog.

Jun 10, 2015 03:18 AM #4
Rainmaker
4,797,884
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Gary, thanks for taking the time to comment it is always appreciated.

Jan 29, 2018 06:00 AM #5
Rainmaker
4,797,884
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Wendy, thanks for taking the time to comment it is always appreciated.

Jan 29, 2018 06:00 AM #6
Rainmaker
4,797,884
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Matt, thanks for taking the time to comment it is always appreciated.

Jan 29, 2018 06:01 AM #7
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Rainmaker
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Gabe Sanders

Stuart Florida Real Estate
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