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SHORT SALES

By
Real Estate Agent with Realty World J. Pavich R.E. 674937

With the number of people deciding about going into foreclosure or paying their mortgage today, Realtors have to be as much a counselor as a sales agent.   Being a responsible agent, it's important to point out to the unfortunate sellers the pros & cons of this type of deal and to warn against unscrupulous "Mortgage Assistance" companies.

 I've found that getting the listing is not as important as letting the people know the possible repercussions, as well as the relief they will get in doing this type of deal.   I know, and have spoken to, quite a few people who have decided to go with the short sale and others who have decided to stick it out and make arrangement to be in forebearance with their mortgage companies.  It's strictly a matter of INFORMATION!! 

 I'd rather skip getting a short sale listing if the sellers can manage to work things out!  The market has such a glut of short sales right now that are going nowhere.  Why add another???   The seller usually can work things out within 6-8 months with a repayment plan and then be able to sell with a clear title -- and because you took the time to give them the information -- you now have a thankful seller and a whole commission!

Let me know if you agree with this idea!

Al Maxwell
Keller Williams - Marietta, GA
Real Estate Agent
I agree with you. We should not benefit from some other's misfortune. I only help if it helps them also.
Jan 28, 2008 11:33 PM
Karel Rogers
Real Estate Staging Unlimited - Reno, NV
Thanks for the post, there are less short sales than 6 months ago so hopefully soon this topic will disappear...
Jan 28, 2008 11:34 PM
Joel Bennett
Long & Foster Real Estate Inc. - Columbia, MD
The Joel Bennett Group
Short Sales are starting to decline a little.  Hopefully the governments stimulus package gets things moving in a better direction
Jan 28, 2008 11:51 PM