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Short Sales is it a way to prevent foreclosure and are they understood?

By
Real Estate Agent with NP DODGE Real Estate

 

According to the article by Christine Laue in Omaha World Herald  "Omaha real estate professionals are seeing an increase in the number of short sales- transactions in which homeowners selll their houses for less than they owe on their mortgages as a way to prevent foreclosures." It is a very informative article but my question is how do I help a client who wants to sell and is willing to negotiate but there are no offers from a bonafied buyer?  Short sales are an option for some, but does not solve the problems for many sellers.

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Daniel J. Brudnok, REALTOR
Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038 - Downingtown, PA
SRES, e-PRO,ABR,GREEN,CSP

Lucy,

I agree that it may not be the best answer, however for some there is very little choice. 

If we educate better maybe we can get a better result if the average consumer knows that if they have a problem...call and discuss before your are 3 months down and have little or no choices of your own.

Nov 26, 2007 02:54 AM
Chuck Willman
Chuck Willman - Alpine, UT
NewHouseUtah.com

I've had my share of nightmare short sales and surprisingly simple ones... it's nice when they "fly" because you know you've helped both the buyers and the sellers.

May 20, 2008 05:12 PM