The 5 Stages before a Short Sale is Considered

Real Estate Agent with eXp Realty

The 5 Stages before a Short Sale is Considered

In my daily readings I came across the writings of Twyman Towery PhD., where he noted the various stages of change anDenying foreclosure is inevitabled how it compares to grief; it is on the mark for what a distressed Seller experiences prior to listing their home to sell as a Short Sale.

  • DENIAL: Our first reaction is to deny, rather than adapt to and embrace, the change in our life

Our homes are our filled with memories and hopes this can't be happening to us.

  • ANGER:  Once we realize we cannot stop the change we become angry that it is outside of our control. If we do not understand where the anger is coming from, we can mistakenly hurt the people we perceive to be initiating the change.                 Anger results with pending foreclosure

One of the worst things is when we lose control. We all like to be in control of our circumstances. When it has become obvious that we've lost control we become angry thinking there's NO WAY I'm leavBargaining to avoid foreclosureing this home...just try and get me to go! Gggr.

  • BARGAINING: This is an attempt to avoid change by bargaining it away.

We'll contact our Lender to see what can be done. There has to be a way for them to offer forbearance, provide a Loan Modification or something; there's got to be some kind of agreement Searching for ways to avoid foreclosureto be made. Only to find out that our Lender isn't able to offer us anything that is going to work.

  • EXPLORATION:  We begin to accept that there is going to be change and explore ways to deal with the change.  Depression can become a reality during this state as we give up being able to control the circumstances. 

It's very hard to accept that we're going to lose our home. We've tried all that we could to stay put in our home and nothing worked. Now what? We're going to have to find out a way in which to move gracefully. We start searching over the Internet entering a million different search terms into Google for ways in which to avoid foreclosure. We find a lot of information about selling our home as a South Florida Short Sale. We talk to friends and family about our options; should we sell our home as a Short Sale or let our home go into Foreclosure?

  • COMMITMENT: We accept and embraced the change.  We begin to see some possible benefits of the change. 

After careful researching and consideration we've come to realize that a Short Sale will truly help us to get to the next stage in our life and start to see some hope for the future. We come to find out that it may be possible to own a new home again after only a few short years. Hey, we know how fast time can go by. We decide to talk to friends, familys and search on our own too, to find a qualified South Florida Short Sale Specialist; a few names come up and after talking it over we've selected a Short Sale Going to sell home as a South Florda Short Sale - gonna be okaySpecialist who has a track record of helping homeowners avoid foreclosure and closing on Short Sales over the past several years. We're committed and have brought a ray of sunshine back into our lives. It's going to be all right.






 Anger results with pending foreclosure

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Re-Blogged 1 time:

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  1. Mike Frazier 02/06/2012 02:47 AM
Home Selling
Certified Distressed Property Expert
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Short Sales Specialists
Silent Majority
stages of change
sell home as short sale
south florida short sale specialist
coral springs sale realtor

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Erv Fleishman
Realty Associates - Boca Raton, FL
Luxury Prop Specialist Realty Associates

Ultimately short sales are financial business decisions for the seller and the bank. The bank is more objective. The seller is frustrated. I do not agree that short sellers go through this process. To each their own. Many people are simply willing to walk and their main concern is their credit rating and how it will affect them.

Jan 13, 2012 11:11 AM #1
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I just had to deal with a distraught seller this afternoon. She is handling her situation pretty well and not blaming the bank, but looking for answers to questions. The lender isn't very responsive. Big surprise.

Jan 13, 2012 11:11 AM #2
Lang Premier Properties
Lang Premier Properties - Clawson, MI
Metro Detroit Real Estate Group

Like this post.  I think I may share this with my readers!  Thank you and best of luck to you, Lynn.

Jan 13, 2012 11:11 AM #3
Adrian Willanger
206 909-7536 - Seattle, WA
Profit from my two decades of experience

Lynn-This makes a lot of sense, I'm currently working with several people entertaining (early stages) a short sale and yes I'm seeing all the various stages. I like the part where he mentions that a short sale can help get you to the next stage of your life. Thanks for the article.



Jan 13, 2012 11:12 AM #4
Lynn Pineda
eXp Realty - Boca Raton, FL
Real Estate Promises delivered in SE Florida

Erv, the Seller you describe who would not go through this would likely be the Strategic Short Sale Seller. For purposes of my discussion here I'm speaking of the financially distressed Seller wheres you're right as these stages would not apply to the Strategic Short Sale Seller.

Debbie, yeah it isn't always easy dealing with distraught Sellers in regards to their emotions and what they're going through...its' very hard and we must have empathy.

Benjamin, thanks a lot and yes, please sure. Sometimes when it's seen in writing it can help which is my intention

Adrian, it's incredible isn't it how the distressed Seller goes through these stages. If they only know at the onset that things could possibly turn out well for them. You're welcome.


Jan 13, 2012 11:21 AM #5
Satar Naghshineh
Satar - Amiri Property and Financial Services Corp. - Irvine, CA

Lynn, well written blog. Once you understand the owner, you are in a better position to help them out. Most of my business came from approaching the owners in a manner that did the following:

1. Described their situation and the time frame involved.

2. Explored the many options to them and my willingness to help.

3. Creating a plan, including an exit strategy.

4. fulfilling  my promise to them, even if it meant that I did not profit from the transaction.


Jan 14, 2012 03:16 PM #6
Israel Barden
RE/MAX Big Bear Village - Big Bear Lake, CA

Great Blog! I sent it to a client of mine who is having a very hard time letting go, despite very difficult circumstances.

Jan 15, 2012 03:29 AM #7
Lynn Pineda
eXp Realty - Boca Raton, FL
Real Estate Promises delivered in SE Florida

Satar, thank you. You're right as it's critical that we understand the owners and what it is that they want. They've likely been tossed back and forth so many times that we must able to be counted to help them.

Israel, thanks so mucha and I'm so glad that you found my post useful in helping another distressed Seller. It is a very hard time and I really understand what they're going through. Good for you in that you're helping your client.

Jan 15, 2012 11:32 AM #8
Goran Utvic
606 Homes LLC | Chicagoland Brokers Inc, Chicago IL 60656 - Chicago, IL
We Buy & Sell Chicago Houses Fast

Excellent post Lynn. The more we as realtors can recognize the stage that the homeowner is in the easier it is to help them with a successful short sale.

Jan 17, 2012 09:24 AM #9
Lynn Pineda
eXp Realty - Boca Raton, FL
Real Estate Promises delivered in SE Florida

Thanks are so right

Jan 18, 2012 02:01 AM #10
Paula McDonald, Ph.D.
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279
Great stuff. Need to bookmark. I will suggest as well.
Jan 18, 2012 03:53 PM #11
Lynn Pineda
eXp Realty - Boca Raton, FL
Real Estate Promises delivered in SE Florida

Hi Paula, Thanks so much. I'm glad you found it useful.

Jan 19, 2012 10:52 AM #12
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Real Estate Promises delivered in SE Florida
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