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Mama Liz Says --Short Sales are Scary In Many Ways

By
Real Estate Broker/Owner with Liz Loadholt- AgentOwned Realty- Covering SC
originally posted on Real Estate Brokerages

Mama Liz's Signature

Liz Loadholt
Broker, SC Certified Trainer, Relocation Director
Co-founder of AgentOwned Realty ]
Liz@AgentOwned.com


843-725-5007


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Show All Comments
Cynthia Larsen
Cotati, CA
Independent Broker In Sonoma County, CA

Hi Mama Liz, I haven't seen you for awhile. Short sales can in fact be scary to navigate. I just represented a buyer in one and it closed a little after two months. The listing agent really knew what she was doing which really made it nice. Good luck with that situation of yours.

Jul 21, 2010 01:26 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville
I've NEVER list a home for short sale and let my seller sign a contract with a buyer who wanted to negotiate with bank. That's nuts. You're advise for them to see an attorney first before signing that type of contract is spot on.
Jul 21, 2010 04:19 PM
Liz Loadholt
Liz Loadholt- AgentOwned Realty- Covering SC - Mount Pleasant, SC
Realtor--Broker-in-charge - Trainer--Relocation Director Covering SC

Cynthia ---  good to see you --- it is extra nice when the listing agent knows what they are doing.

Jul 22, 2010 10:18 AM
Liz Loadholt
Liz Loadholt- AgentOwned Realty- Covering SC - Mount Pleasant, SC
Realtor--Broker-in-charge - Trainer--Relocation Director Covering SC

Tammy --- I agree with you --- it is nuts --- I try to advise all of my agent-owners, but it is very difficult to touch each one of them.

Jul 22, 2010 10:19 AM
Liz Loadholt
Liz Loadholt- AgentOwned Realty- Covering SC - Mount Pleasant, SC
Realtor--Broker-in-charge - Trainer--Relocation Director Covering SC

Tammy --- I agree with you --- it is nuts --- I try to advise all of my agent-owners, but it is very difficult to touch each one of them.

Jul 22, 2010 10:19 AM
Lisa Udy
Platinum Real Estate Group - Logan, UT
Logan Utah Realtor

I've only had to represent a buyer 3 times in my entire career on a short sale. I had no idea buyers would want to negotiate with the banks. I would definitely not recommend it. I would definitely recommend they talk to an attorney. This is too bad for the seller...

Jul 22, 2010 10:34 AM
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS

The short sales rules (which are zero) change constantly, and the number one way we can help people is by talking about how we can help, and how short sale sellers can protect themselves.

Jul 23, 2010 12:56 AM
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS

The short sales rules (which are zero) change constantly, and the number one way we can help people is by talking about how we can help, and how short sale sellers can protect themselves.

Jul 23, 2010 12:56 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA
Sounds like you are describing a short sale flip. Notify the FBI in your area and notify the short sale bank that you have a buyer that wants to pay more. Also, check title. The seller has probably already deeded over the house to the investor. It's a mess. This would mean a violation of the seller's due on sale clause. I had one of these earlier in the year. Still reeling from it. If it's a short sale flip, you need to notify the fraud division of the short sale bank.
Jul 23, 2010 11:45 AM
Liz Loadholt
Liz Loadholt- AgentOwned Realty- Covering SC - Mount Pleasant, SC
Realtor--Broker-in-charge - Trainer--Relocation Director Covering SC

Lisa --- nice to see you --- thanks so much for stopping by.

Jul 25, 2010 07:27 AM
Liz Loadholt
Liz Loadholt- AgentOwned Realty- Covering SC - Mount Pleasant, SC
Realtor--Broker-in-charge - Trainer--Relocation Director Covering SC

Carol ---- thanks so much for stopping by --yes, short sales are scary.

Jul 25, 2010 07:28 AM
Liz Loadholt
Liz Loadholt- AgentOwned Realty- Covering SC - Mount Pleasant, SC
Realtor--Broker-in-charge - Trainer--Relocation Director Covering SC

Chris Ann ---- thanks so much for stopping by -- yes, it is a short sale flip --- there are so many of these going on right now -- this particular case, the buyer recorded his contract with the seller -- you have given great advice.l

Jul 25, 2010 07:30 AM
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