Getting contradicting advice about short sales - who should you listen to?

By
Real Estate Agent with Keller Williams Realty Louisville East (502) 664-7827
https://activerain.com/droplet/7Db

You are in a financial bind. You ask people for advice. Did you notice many give advice even though…

  1. Some have vested interests.
  2. Some don’t see the full picture, only their narrow area of expertise.
  3. Some wear expensive suits but have never done a short sale, and think that short sales are too good to be true.
  4. Some sincerely want to help but don’t know the reality of short sales and how to avoid foreclosure.
  5. Some can’t imagine your emotional or financial position.

Who are the people who give you advice about avoiding foreclosure and minimizing the damage to your financial and emotional life?

Many of these advisors are well intentioned, but you need to evaluate them based on the five criteria listed above.

  • Friends
  • Relatives
  • Your lender who is foreclosing on you (are they on your side or adversarial to you?)
  • The media
  • Bankruptcy lawyers
  • Tax attorneys
  • CPA’s
  • Co-workers
  • Realtors who are friends, family or went to middle school with you, but are not trained in short sales
  • Realtor who sold you your home, but is not a short sale specialist
  • Realtor with the biggest ad in the Yellow Pages, but has never done a short sale
  • Realtor who ranks high in Google, but doesn't know short sales

Or

The reality is you need a team to help you optimize your position

Your team should include;

  1. A Realtor who is a short sale specialist who has a proven track record.
  2. A tax advisor.
  3. A lawyer who understands debt issues.

Some strategies solve problems but create new ones. Good advisors will help you construct the best options and solutions.

You are the captain of your own destiny but you must get comprehensive and compassionate advice.

I wish you the best in this most important decision. If you are in the Louisville area, please call me any time, any day of the week at (502) 664-7827

Posted by

 

 

Dave Halpern, Realtor

The Dave Halpern Real Estate Group

Keller Williams Realty Louisville East

Website David.DavidHalpernRealtor.com

(502) 664-7827

 

 

View Dave Halpern's profile on LinkedIndave_halpern twitterhalperndave_facebookDave Halpern QR CodeLouisville Foreclosure Realtors Dave Halpern

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Topic:
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Groups:
Short Sales Specialists
Short Sale REALTORS®
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Tags:
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Rainmaker
259,511
Kathy Denworth
Century 21 Schwartz Realty - Islamorada, FL
Realtor in the Florida Keys, Islamorada, Key Largo

Great, unless you have taken one or two of those " go to this class and you know it all" courses. There are so many "experts" that were told they are one by some instructor it is frightening.

Mar 23, 2011 03:02 PM #1
Rainmaker
376,650
Carla Harbert
www.LorainCountyHomeSales.com - Avon, OH
RE/MAX Omega: Lorain-Medina County Area

Short Sales are a process that takes time, experience, great education and follow through. It's not for everyone.

Mar 23, 2011 03:53 PM #2
Rainer
177,169
Nicole Monary
Sellstate Next Gen Realty - San Diego, CA
Nicole Knows San Diego Neighborhoods

We started an inner office WordPress blog where we share our experience and trade off valuable lender contacts.  We have a meeting once a month called "Shorty's Lounge" to discuss blocks we may have run into and brainstorm solutions.  It has been invaluable to our agents.

Mar 23, 2011 04:43 PM #3
Rainmaker
1,267,563
Al & Peggy Cunningham, Brokers
RE/MAX West Realty Inc., Brokerage - Brampton, ON
Our Family Wants To Help Your Family!

Dave, this was such good advice...always use an expert and someone who has experience and has been there done that............many times! 

Mar 24, 2011 09:48 AM #4
Rainmaker
841,108
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

Good morning Dave, thank you for sharing all these great points with us.

Have a nice and productive day.

Mar 25, 2011 12:11 AM #5
Rainer
478,183
Not a real person
San Diego, CA

Whatever you do, don’t listen to your friends and relatives, even if they've gone through a short sale themselves. Each situation is different, and the best person to help you is a short sale specialist!

Mar 26, 2011 02:25 PM #6
Ambassador
1,509,742
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Looks like you have a good team built.  Many people have lost their home here when it wasn't their intention & they were told by "friends & relatives" to default to get a loan modification

Mar 27, 2011 04:52 AM #7
Rainmaker
2,189,950
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

That's it in a nutshell, Dave. They need a good short sale agent, a real estate lawyer who understands short sales and a tax accountant. Everybody else can go jump in the lake for all the good they'll do them.

Mar 29, 2011 04:03 AM #8
Rainmaker
2,316,116
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Getting the wrong advice on short sales can be catastrophic.  Using experts will give consumers the correct information to make informed decisions.  Excellent tips Dave!

Apr 02, 2011 02:45 AM #9
Rainmaker
210,832
Renae Bolton
Marketing 4 Realtors - Garfield Heights, OH
I'm your Professional Real Estate Marketing VA!

Excellent advice, Dave. So many well intentions have led to disaster for home owners in precarious situations.  The best route to go - is straight through an experienced real estate agent!

~Renae

Apr 05, 2011 03:30 AM #10
Rainmaker
1,279,027
Donna Foerster
HomeSmart Realty Group - Parker, CO
Metro Denver Real Estate Assistant

Very well written Dave and good advice.  There are too many people that believe they are doing good research, but they don't have good data.

Apr 10, 2011 10:30 AM #11
Rainer
334,224
Paul Gapski
Berkshire Hathaway / Prudential Ca Realty - El Cajon, CA
619-504-8999,#1 Resource SD Relo
 

yes they look so nice but Foreclosures are such tough on to stomach.

Nov 02, 2011 03:46 AM #12
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Dave Halpern

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