Use the short sale to stay in the house as long as possible

By
Real Estate Broker/Owner with Regal Realty of the Treasure Coast LLC

Use the short sale to stay in the house as long as possible!

Many homeowners when faced with the dilemma that they can no longer afford the house, and they have no money saved up, and they need to move, decide they will use the short sale to stay in the house as long as possible. 

As agent we are very sympathetic to the situation of the home owner and their family, but it is not ethical that we take a short sale listing on the basis that the owner will use the short sale to stay in the house as long as possible.

This is deceiving the mortgage lender, that all is being done to reduce the financial damages. 

It is not fair to potential buyers who view the home hoping that it may be a potential new home for them. 

Even worse, have the buyer go into contract on the house and the seller is not doing all within their power  to bring the sale to a close by the transfer of title  ownership from themselves to the new home owner. 

If the mortgage lender is of the opinion that the homeowner is using the short sale to stay in the house as long as possible they may just foreclose.

To avoid this an real estate agent should never take a listing when the objective of the home owner is to use the short sale to stay in the house as long as possible.

Posted by

 

 

I am  certified from the National Association of Realtors for being a Short Sale and Foreclosure Expert. 

If your are looking to sell or purchase a home in South Florida CLICK HERE to contact me to assist you with your real estate needs.

 

                              

  

Merline Pennant

Realtor/Broker

Direct Line: (772) 985-7653

email: Merline@RegalRealtyTC.com

Website: RegalRealtyTC.com

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Location:
Florida
Groups:
Posts to Localism
Local Expert
HyperLocal Neighborhood and Community Posts
Inspiration Station

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
3,983,611
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Hi Merline, You really are the short sale expert. I look forward to reading more about this topic.

Nov 19, 2013 11:29 AM #1
Rainer
121,969
Merline D Pennant - New homes, Short Sales and Pre-foreclosures
Regal Realty of the Treasure Coast LLC - Port St Lucie, FL
New City, New Towns, New homes

Lots more to come Debbie.

Nov 19, 2013 11:37 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
121,969

Merline D Pennant - New homes, Short Sales and Pre-foreclosures

New City, New Towns, New homes
Port St Lucie Your Treasure to Discover. Find Out NOW!
*
*
*
*
Spam prevention

Additional Information