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Are Short Sales The Only Thing You Sell | Springfield Mo Real Estate

By Kay Van Kampen

Real Estate Agent with RE/MAX Broker, RE/MAX 1999033519

May 20, 2012 12:41 PM

Are Short Sales The Only Thing You Sell | Springfield Mo Real Estate

Going to a listing appointment last week, I knew before sitting down with the sellers, they were upside down on their mortgage and already behind......they had explained that on the phone before we arrived.

As we started talking about their situation, they asked: Are Short Sales the only thing you sell? Why do you think we need a short sale? We have equity in our home and not going to give it away. The other agent told us it was worth much more.

I'm sorry, I explained. With you being behind, we must agressively market your home to avoid foreclosure. Did you let the other agent know your situation?

They are still in the thinking stage on what to do. Hope they don't wait too long!

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Conrad Allen

Re/Max Professional Associates - Webster, MA

Webster, Ma, Realtor

Hi Kay. The foreclosure clock is ticking when no payments are made.

May 20, 2012 08:23 PM

Liz and Bill Spear

Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH

Transaction Alliance Cincinnati & Dayton suburbs

Kay, Hopefully they come to their senses quickly. Some years ago we had sellers who were behind and didn't tell us. Fortunately plenty of equity, and we wondered why they didn't counter when that first offer came in. We found out when we called to get pay-offs. Fortunately more than enough equity that everything worked out and closing wasn't a problem.

May 20, 2012 08:45 PM

Toni Weidman

Sailwinds Realty - Trinity, FL

20+ Years Selling Homes in New Port Richey, FL

Kay, I hope they see the wisdom in your words. They will be even further underwater if they wait too long. I think most folks these days are happy they can do a short sale but some are "old-fashioned" and don't see the writing on the wall.

May 24, 2012 09:56 PM

John McCormack, CRS

Albuquerque Homes Realty - Albuquerque, NM

Honesty, Integrity, Results, Experienced. HIRE Me!

Good Sunday afternoon Kay - I wanted to drp by to wish you and yours a very safe and happy Memorial Day weekend in all you do! Best regards John

May 27, 2012 09:09 AM

Karen Kruschka

RE/MAX Executives - Woodbridge, VA

- "My Experience Isn't Expensive - It's PRICELESS"

Kay I've been involved in two similar situations, In both cases when my offer was submitted the sellers told their agent they would rather go to foreclosure and took the home off the market

May 29, 2012 08:53 AM

Terri Poehler

Realtor - Coral Springs, FL

Coral Springs Real Estate Agent

Kay, they are going to be devastated when they are thrown out because the home no longer belongs to them!

May 30, 2012 07:29 AM

Ed Silva, 203-206-0754

Mapleridge Realty, CT 203-206-0754 - Waterbury, CT

Central CT Real Estate Broker Serving all equally

Kay, some sellers still think they can make money even when they are underwater. My last 2 listings were short sales that the sellers hadn't been approached by the previous agents. They were told to sell the house and pay the difference, with commissions, even if it meant to cash in their retirement accounts.

Jun 01, 2012 12:28 PM

Kay Van Kampen

RE/MAX Broker, RE/MAX - Springfield, MO

Realtor®, Springfield Mo Real Estate

Conrad, I wish them the best of luck. Hope I don't get a call too late.

Jun 03, 2012 10:06 AM

Liz and Bill, it's been several weeks and I found out they listed with another agent.

Jun 03, 2012 10:07 AM

Toni, I feel I made the sellers angry, approaching them about a short sale, but the writing is on the wall. They are very behind, without a way to bring the loan current.

Jun 03, 2012 10:09 AM

Thanks John, Father's Day is next. We live for holidays! LOL!

Jun 03, 2012 10:10 AM

Karen, I don't understand the reasoning behind some of these people. I'd rather save my credit if I was in their shoes.

Jun 03, 2012 10:12 AM

Terri, I'm sure the sellers aren't prepared for that. I just hope it doesn't happen.

Jun 03, 2012 10:13 AM

Ed, I've seen that too. Some agents haven't been educated on short sales.

Jun 03, 2012 10:14 AM

Bill Gassett

RE/MAX Executive Realty - Hopkinton, MA

Metrowest Massachusetts Real Estate

Kay it sounds like the seller is in denial. If have run across this a few times. Good luck!

Jun 03, 2012 09:34 PM

Are Short Sales The Only Thing You Sell | Springfield Mo Real Estate

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