10 Things I Heard This Week, About Short Sales, That Suck.....

It's tough to do business with short sales it can be emotionally draining.  I really admire agents who focus on the short sale market.

Mental and physical stress is standard procedure on just about every short sale.  It's a shame because it doesn't have to be that way. 

BB - All we can do is try to help these people.  There is so much distress as a result of what has gone on, and like you, I've heard many of these same things.

BB, it takes a special agent to help people in these situations. Thankfully they have you to get them through this.

How about my parents 72/78 lost their house to foreclosure after 3 buyers waiked out on the short sale, and the bank would give no further extensions.  So they put down one of the children (aka 13 year old dog) and moved into a rental, only to have 7 months after they moved in, a knock on the door.... yes an NOD was being served on the owner.  Who STOPPED making payment the second they moved in.  SUCKS

The best we can is here is can you try to help me.

Hi Bryant,

The pain is pretty wide spread these days.

Our best solutions are not removing the pain. They just ameliorate it.

Thanks for the post

Phil

How about. .

form a homeowner that did not make a payment in 18 months!

"My attorney wants $5,000 and he says he will save my house. . please take it off the market today!"

I think it's great that you are helping people.  Short sales are tough!!

Yeppers... after three years of doing short sales... I've come across all of these statements at one time or another. Precisely why I tell other agents not to get into doing short sales just for the money.

I heard some of those this week as well. And by the sounds of it, Mass is only getting started! Interesting enough, I just took a class on short sales in order to also respond: "Yes, I can help"! : )

That is the best part!

Bryant, the challenges and emotions involved in a short sale does make them suck.

Bryant, Interesting yet understandable.  My latest short sale said #3... "I feel like a loser."  She lost her job do to complications from a pregnancy and having to deal with issues after the birth of her daughter.  
We are working through the Short Sale and she now realizes that the health of her daughter is more important than a house. 

This is tough to read. It is about truly helping people out.                              

great post showing a side that I never see...

from the buyers angle, we only see that the short sale seller wants to take all the fixtures...interesting point of view.

Eve in Orlando

10. The bank would not take a short sale with a $159,000 sales price but just sold the condo at auction for $90,000... Brilliance

HI BB - I've heard all of those (except the attorney one, think goodness) and I've heard some more.  The effect on marriages is devastating and somethingthat is not discussed enough.  I kow of several of my past short sale sellers who divorced eith er during or shortly after the process.  There ought to be some personal counseling required in addition to the handholding I can give. I don't know who would pay for it, but the stress for families is overwhelming.

Every sellers situation is different, many brought on the short sale scenario themselves. Others have a legitimate reason for having to short sale. They all should consult an attorney. There was a report recently on tv saying lenders, investors, collection agencies are now going after people that did short sales and signed promissory note that they quit paying, or had deficiency judgments filed against them. They said they would be garnishing wages and checking accounts of short sellers. I don't know how hard they will go after them, but it didn't sound good. I bet many short sellers will be forced into bankruptcy to stop the collections. Who knows?

Yeah, short sales do suck and people have terrible circumstances.  It's nice that there are folks out there like you (and my husband) to help. -Kasey

Great post Bryant! Short sales do SUCK!