Short Selling a Home in Sarasota, Florida

Short Selling a Home in Sarasota, Florida

What do you do when you can't afford your home any more and you are facing forclosure?  Two homeowners in the Sarasota, Florida area decided to move out, but not the way many others have.  One of the owners, Kathy, had been working as a new home sales person in Florida, but when the market kept declining, the builder closed up shop.  So Kathy and her husband, Jorge decided to move to Texas where the new home market was slightly better than Florida's.  That's when things took a turn for the worse.

Shortly after hitting the road, Kathy's vehicle broke down on a major  highway in Florida.  Jorge stopped behind his wife in their rented moving truck to come to her aid.  Within 10 minutes, their vehicles were struck by a large truck loaded with industrial batteries.  Their car in-tow, rental truck, van and storage trailer as well as ALL their worldly belongings  were damaged beyond repair.  Kathy suffered a broken leg, but even worse, Jorge was standing in the road when the accident occurred.  He was hit and thrown 75 feet from point of impact and spent the next four months in the hospital with a multitude of injuries.

If anyone in the Sarasota area needed to be short selling a home, it was them.  Around that time, the bank filed their notice of foreclosure, so time was of the essence to sell the home short.  Their listing agreement was signed and the marketing effort began.

Finding a buyer proved to be relatively easy.  (It just proves that if the home is priced right, it will sell.)  In light of the circumstances, the lender paused the foreclosure process.  So, with the horrible accident, skillful negotiations and a cooperative lender, the home closed escrow within 4 1/2 months from the time it was listed.

The truth is, aside from the accident and all it entailed, this sale was not too extraordinary.  If you know someone who is short selling a home, you shouldknow who it is with whom you need to speak at the bank, all it takes is time and patience.

According to an article written just last month, the number of pending foreclosures grew in the 2nd quarter of this year.  That translates to a continued stream of potential short sales in the market.  So, if you are in need of short selling a home in Sarasota, make sure you find someone with the experience to make it happen!  If you are looking for a short sale, know that they are easy to find.