Short Sales, and the people that live in them for a year or more!

I believe myself to be very understanding and trustworthy to most everyone I meet, until it is trampled on.  People that know me tell me time and time again that I am one of the most empathetic people they know. I only tell you this to share this latest story; Short Sale, Divorcing couple of which the wife has moved out and on with her life as the husband, still in the home, does nothing but feel sorry for himself. Okay I know we've seen this scenario more than once but let me continue.

In negotiation of the second of two loans the countered back for more money than was offered from the first. The listing agent's team was able to get the second to take less requiring the owners (shorting the banks approximately $316K) to come in with $3K the wife immediately agreed and the husband cried poverty. We had viewed this home several times and in the home he has more toys than F.A.O. Schwartz, from weight sets and golf clubs to R.V.'s and dirt bikes. Can you believe, he suggested maybe we, the Realtors, could help out! AARRGGHH!@#$, can you hear that..... I'm being trampled on, loud and clear now. The listing agent stepped in and took care of it on his end, probably got a great deal on a dirt bike or something.....whatever.

Now because the first lender waited so long for the second negotiations they now wanted to close sooner than 30 days and vowed no extensions will be given, our lender says no problem we can make it happen. Now we get to the part that just leaves me F U R I O U S , the husband, still feeling sorry for himself request a rent back for 1 week because he has no time to get out. Excuse me he hasn't paid the mortgage in 11 months and still hasn't found a place? And HELLO you can't find the money to contribute to the lenders but want us to trust you to pay a rent back, and not destroy the house in the meantime?

What planet are some people from? These people are breathing the same air that we do but somehow are in a perpetual self centered Utopian state and I just don't get it.

Posted by

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Patrick Virgilio, Broker Associate, Cal BRE# 01305252

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 *I am a Realtor®, qualified to provide you with Real Estate advice; any and all  information I have provided should not be construed as Legal or Tax advice.

                                           

The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Pat Virgilio. 

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Rainmaker
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Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Patrick, I think it is called lazy and greedy.  There are some people deserved to be helped and while some of them....hmm.....you know the answer.

Oct 24, 2010 09:29 AM #1
Rainmaker
2,789,625
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Patrick, This is morally and ethically reprehensible. People use the system for their personal gain. I will not take a short sale listing unless the sellers are willing to fully cooperate with the sale. I am sorry you’re wrapped up in dealing with such a dubious character.

Oct 24, 2010 05:03 PM #2
Rainmaker
1,377,119
P.J. Virgilio Jr., Realtor 408-568-6578 Selling homes in the Greater San Jose area and South through San Martin, Gilroy
Keller Williams Realty Silicon Valley - Gilroy, CA
San Juan Bautista and Hollister as well!

Ladies,

You are both very kind in your descriptions of the owner occupant, but we all know what we would really like to say... as does the owner.

Oct 24, 2010 05:08 PM #3
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Rainmaker
1,377,119

P.J. Virgilio Jr., Realtor 408-568-6578 Selling homes in the Greater San Jose area and South through San Martin, Gilroy

San Juan Bautista and Hollister as well!
Values are UP!... ask me what your homes worth?
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