A Short Sale Buyer Can Find That “Pot of Gold” With A Short Sale, By Having Patience.

By
Real Estate Agent with RE/MAX of Naperville

 

A Short Sale Buyer Can Find That “Pot of Gold” With A Short Sale, By Having Patience

 

Short Sale Rainbow
We all know about the famous Irish folklore that says there is a “pot of gold at the end of the rainbow” -- appropriate for today as it is pouring down rain while I am writing this post. I’d relate the reward that a short sale buyer can reap by having patience during the short sale process to that “pot of gold at the end of the rainbow”.

 

Take a short sale listing of mine that recently closed in Aurora, IL. My short sale seller originally purchased the townhouse for $200,000, and the short sale buyer was able to purchase the townhouse that was partially rehabbed for $115,000 -- the short sale buyer’s patience paid off.

 

I’m not saying that the short sale buyer was not wanting to throw in the towel many times -- because she was. But we all, including the buyer’s agent and buyer’s attorney worked together as a team to get the short sale buyer to the finish line.

 

I believe, with that some prep work -- the short sale buyer can reap the reward that can be found by having patience during the short sale process.

Here are a few things that a short sale buyer can to prepare before entering into a short sale purchase:

  • Plan ahead -- if the short sale buyer has a target move date in mind, then start the purchase process early.
  • Get qualified for a mortgage.
  • Knowledge is power -- find a buyer’s agent that is knowledgeable about the short sale process -- not a negative Nelly that says, “oh no short sales do not work” because that agent is not looking out for the short sale buyer’s best interest. The short sale buyer’s agent can guide the buyer through the short sale process and help with any questions along the way.
  • Most importantly -- have patience, patience, patience -- a short sale is a process, there is no doubt about it.



If a short sale buyer has the knowledge and resources to make it to the finish line, then they will reap the reward that IS at the “end of the rainbow”.


Posted by

Maria Mastrolonardo is a full time Illinois Realtor-Associate with RE/MAX of Naperville specializing in Short Sales. She has been helping home-buyers and home-sellers since 1997. She can help you with any questions or information regarding Short Sales for the Western Suburbs of Chicago which includes but not limited to; Naperville, Aurora, Downers Grove, Lisle, Plainfield, Bolingbrook, Warrenville, Wheaton and Woodridge.

To reach her call/text at (630) 248-6077 or mmastrolonardo@gmail.com

 

You can also find me here!

 

                                    

 

RE/MAX of Naperville is not associated with the government and our services have not been approved by the government or your Lender. Your Lender may not agree to the change of your loan and/or a Short Sale.

Photo: Microsoft Clip Art

 

 


 

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Rainer
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Mihir Gandhi
First Team Real Estate - Placentia, CA
Real Estate in Placentia - North O.C. CA

Maria:  Patience is a virtue and it definitely pays off especially in short sale scenarios.  Without patience short sale is a no-no!  I am happy that some of my clients had that patience and came out way ahead!

May 25, 2011 07:15 AM #1
Rainer
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Tamara Schuster
Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois - Naperville, IL
Realtor Broker - Naperville

I love the plan ahead, knowledge is power and patience as they are the keys to success.

Jun 01, 2011 12:27 PM #2
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Rainmaker
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Maria Mastrolonardo

Realtor, Naperville, IL Real Estate
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