Short Sale Red Flags 2-Minute Real Estate Video

By
Real Estate Broker/Owner with Preferred Home Brokers 00402040

When it comes to short sale help, it's crucial you know about the short sale red flags in selling your home today!  Whether you're a home seller in California or anywhere for that matter it's important you to know some of the short sale riskspitfalls and scams in the marketplace when it comes to selling your home.

In CA we have a statewide (if you're using a CA REALTOR) "SHORT SALE INFORMATION ADVISORY" that helps you understand several things, including some of your SHORT SALE OPTIONS on page one.  Followed by some of the "POTENTIAL IMPROPRIETIES" that are identified on pages 2 and 3 of the advisory.

Typically the improprieties may include promises by some who identify themselves posing as "rescuers" making promises that may include:Short Sale Red Flags

  • Promising to let you remain in your home after close of escrow.
  • Promising to protect your credit.
  • Promise to provide you money (cash for keys) at closing
  • Guarantee to stop your foreclosure.
  • Suggest you NOT talk with your lender.
  • Suggest if you sign over your deed to them (maybe an LLC or a Trust) they will negotiate with your lender for you.

         EVERY SINGLE ONE OF THESE ARE RED FLAGS!

So if you're a home seller looking for knowledgeable competent real estate help, contact me Lynda@PreferredHomeBrokers.com or text or direct me at (714) 595-1494.  I'm a CDPE, that means I'm a Certified Lynda Eisenman CDPEDistressed Property Expert working with upside down home owners. You can work with me, or any of the PREFERRED REALTORS at Preferred Home Brokers in Southern California. We've been in business for over 35 years working successfully with home buyer and sellers. Now if you're a home seller anywhere, check out HomeSelling101.com for more great home selling tips. And if you find this 2-Minute Real Estate Video, please subscribe to my YouTube Channel!

 

CA Broker License #00402040

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Ambassador
1,889,398
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

It is so horrible Lynda that those sharks out there want to take advantage of people in this distressed time with their home. Excellent video and all your bullet points summarize it so well.... No one can GUARANTEE a foreclosure won't happen. That would be like having a crystal ball with the market....

Mar 18, 2012 09:28 AM #1
Rainmaker
552,739
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co

Hi Gary ~ You are right about others taking advangage os distressed sellers.

Not long ago I had a client from the past who had several neighbors that signed up with a company in SoCal, paid them $2,000, then deeded their home to this "company" to negotiate a short sale. Afterwards the sellers would remain as tenants (not a chance) and then buy the house back in 5 years!

Mar 18, 2012 12:52 PM #2
Ambassador
1,654,644
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Lynda great information here for those who are in a vulnerable housing situation.  So many out there will take advantage of a bad situation, so knowledge is key.

 

Have a great week.

Mar 18, 2012 09:46 PM #3
Ambassador
702,521
Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

Lynda, you do such a great job with your 2 minute infovids.  I like the way you talk openly about some of the pitfalls that sellers could so easily find themselves in.  Well done as always!  An expert indeed!
Pamela

Mar 19, 2012 02:59 AM #4
Ambassador
2,011,304
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

You are the one to watch to learn how to do these types of videos. Short sale sharks abound...beware.

Mar 19, 2012 09:09 AM #5
Rainmaker
552,739
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co

Hi Jennifer ~ You're right, knowledge IS the key!

Pam ~ Thank you so very much.

Debb ~ Thanks and you're right about the sharks...Short Sale Sharks sounds like a great title for a post.

Mar 19, 2012 11:06 AM #6
Rainmaker
4,314,507
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Lynda, it is always best to use a Realtor with experience and if a seller is thinking of selling via short sales, they should call Lynda Eisenmann!

Mar 19, 2012 12:20 PM #7
Ambassador
2,011,304
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Anyone who wants to learn how to do this type of video - Lynda is the one to emulate. YouTube Thursdays

Mar 19, 2012 11:47 PM #8
Rainmaker
552,739
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co

Hi Joan ~ You are so right, I see agents taking on these listings (all too often) without understanding the process and issues along with short sales.

Debb ~ Thank you for the kudos.

Mar 20, 2012 12:59 AM #9
Rainmaker
763,463
Steve and Jan Bachman
RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax - Herndon, VA
Realtors - Northern Virginia

Oh mercy is there a lot to watch for!!! Great patience is needed on all sides. We are HOPEFULLY bringing a short sale listing of ours to settlement next week.

It has been ONE YEAR almost since it went on the market and such a bunch of crazy stuff occurred that 3 books could be written.

Call Lynda...she will watch out for your interests and bring sanity to what can be a crazy process.

Mar 22, 2012 03:08 AM #10
Rainmaker
552,739
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co

Hey Steve...almost a year! Good luck to everyone for hanging in there that long. At this point, we're seening some improvement on our end, at least that's the way it looks now. Thanks kudos!

Mar 22, 2012 02:41 PM #11
Ambassador
1,553,981
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Lynda  In my 36 years there have always been people in our industry that try to take advantage of the unwary.  It has gotten much, much worse.  Your video is a welcome warning to sellers in your market

Mar 24, 2012 01:40 AM #12
Rainmaker
1,607,755
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

Short sales are not for the faint of heart for sure, we have a closer that handles all ours and she rocks

Mar 24, 2012 09:46 AM #13
Ambassador
1,523,279
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!
Reminds me of the TV show Shark Tank.
Mar 24, 2012 01:00 PM #14
Rainmaker
552,739
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co

Hi Karen ~ Sadly to say, those who take advantage of what they see as an opportunity happens all to often in business in general...short sale sharks are just the latest.

Joyce ~ So very true.

John ~ Maybe, yet I think we know the "sharks" are just that,..they don't pretend to help others, only themselves, as opposed to those who pretend to rescue homeowners in trouble.

Mar 24, 2012 02:45 PM #15
Rainmaker
1,338,877
Nick T Pappas
Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Hun... - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Lynda, yes there are those who will prey on the desperate...certainly heard enough horror stories to know that....just need to keep getting the word out there.

Mar 27, 2012 01:45 PM #16
Rainmaker
1,074,028
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

There is no doubt there are a lot of shady investors out there that will do whatever they can to make a buck!

Mar 27, 2012 09:50 PM #17
Rainmaker
821,718
Maureen Bray Portland OR Home Stager ~ Room Solutions Staging
Room Solutions Staging, Portland OR - Portland, OR
"Staging Consultations that Sell Portland Homes"

Lynda ~ Sellers in Orange County will appreciate your helpful info on short sale Red Flags, and they would be very smart if they made sure that you are their Realtor!

Sometimes you just have to wonder how the scam artists sleep at night?

Apr 01, 2012 04:08 AM #18
Rainmaker
552,739
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co

Nick & Bill, You're right, we all need to help get the word out.

Maureen ~ Thank you so much!

Apr 01, 2012 06:03 AM #19
Rainmaker
710,723
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Lynda

Go visit USResidential.com

One of my friends told me about them, and is seriously contemplating going with one of their programs. Makes me nervous as hell, and I have given her some cautionary what-ifs. Have you heard anything about them?

Apr 06, 2012 03:03 PM #20
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Rainmaker
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Lynda Eisenmann

Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co
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