"You have to Convince My Ex to do a Short Sale" Cried the Former Spouse

By
Real Estate Agent with EXP Realty 414-525-0563 57026-90 Broker

 In the not so long ago....and in some cases,  continuing saga of divorce decrees, the Marital Settlement Agreement (MSA) read that within x period of time, usually 2 years or less, it was agreed that the house which was marital property, would be sold or re-financed by one member of the about to be, former couple. The sdivorce houseame language had been used for years and became an 

"automatic ending for divorce."

   What was no longer "automatic"  with the decline of the housing market....was that the house had equity.

  upside down houseThere was no option to refinance.....and the sale did not mean sharing profits....it meant a short sale...and in some cases when spouses choose to "get even"....allow the house to go into foreclosure.

    No one buys their home ....with the anticipation of doing a short sale any more than they take a trip down the matrimonial aisle imagining a divorce....not an planned or desired event.

       We are seeing a resurgence of short sales...not to the level of a few years ago....but they are back witquestion markh more frequency than they had been in recent history.  

    In part, this is due to the "wait until the market comes back" belief.  The part of "back" that homeowners do not face is....back from where.... It is not back 

from a place of imaginary...or perhaps once the reality of equity.  It is back from now...and what price the market will bare now.

   Will we convince your spouse to do a short sale ? We will pperson with megaphoneresent the facts of the process...we will help them look at their financial situation....we will encourage them to seek legal counsel if they wish....and all we can do is inform...the "convince" has to come from the spouse themselves.. he/she has to be "convinced" that selling the home as a short sale is the best thing that can be done.

  Signing the listing is a very small part of the cooperation required by both people in a short sale. We will need financial disclosure and a host of other paperwork as the lender may require promptly during the process....OR the lender reserves the right to close the file. listing contractThe spouse who feels that he/she has been forced into making the decision becomes uncooperative with timely production of documents....and a great deal of additional time is spent in gathering this information. 

             We are the only certified  Real Estate Divorce Specialists in Wisconsin....We have earned our CDPE certification and have a successful closing short sale record.  Whether you have the mansion on the lake and need Luxury agents...or the home in the suburbs that has not regained the value you owe...Call the Hansons and let's figure out together what your next step is to begin your happily ever after.

Posted by

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Rainmaker
3,041,287
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Just a time bomb waiting to explode.  I personally would not touch it and I don't know of anyone around here who specializes in those transactions

Jan 24, 2015 08:20 PM #9
Rainmaker
2,346,102
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Divorce can get so ugly and no one benefits when one party is so uncooperative.

Jan 24, 2015 08:31 PM #10
Rainmaker
4,797,927
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Sally and David, I admire the patience and perseverance that you must have to deal with these scenarios.

Jan 24, 2015 08:39 PM #11
Rainmaker
3,319,116
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

We have jsut come to think of it as normal...and normal transactions to be half the work !

 

Jan 24, 2015 08:55 PM #12
Rainmaker
762,937
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I've worked with divorced couples on short sales, and it can be annoying and a waste of time if one of them decides not to cooperate. One husband packed up and moved to Canada in middle of a short sale once, told his x he wasn't signing anything, so that ended that one.

Jan 24, 2015 08:55 PM #13
Rainmaker
3,319,116
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

If Jeff Pearl, you have the support and cooperation of both attorneys, which is our case most of the time...as well as the Judge...that is key. If there is an issue to start with ....we sometimes shy away from even beginning the process.

Jan 24, 2015 08:59 PM #14
Rainmaker
3,746,168
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Sally and David. I don't envy you in these situations. Hard to imagine the amount of time you spend and may never be at the closing table.

Jan 24, 2015 10:04 PM #15
Rainmaker
3,319,116
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

No Sheila Anderson....with 2 exceptions in 150 such transactions...we ALWAYS close.....and those two....the Sellers decided not to sign one more piece of paper...and the Lenders and Buyers were willing...That is why when we see trouble in the beginning....just say BYE !

Jan 24, 2015 10:26 PM #16
Rainmaker
3,244,401
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

There are always so many other items, like this, in a short sale...never easy!

Jan 24, 2015 11:42 PM #17
Rainmaker
3,319,116
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Yes Kristin Jhnston...details details....and everyone involved has to be ready to do whatever the bank says in a heartbeat !

Jan 25, 2015 12:26 AM #18
Ambassador
942,257
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Sally and David, this is so true.  When push comes to shove, sometimes the person getting shoved would rather jump overboard than cooperate. 

Jan 25, 2015 02:36 AM #19
Rainmaker
2,535,407
Rebecca Gaujot, Realtor®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Sally and David.... Wisconsin is lucky to have you the Real Estate Divorce Specialists!!

Jan 25, 2015 03:07 AM #20
Ambassador
3,891,448
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Sally and David you are in the business of helping people buy and sell house.  I am in the business of getting people a mortgage.  Our jobs do not include convincing others to do things outside of that.

Jan 25, 2015 06:25 AM #21
Rainmaker
3,319,116
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Arm twisting is not one of our talents, goals, tactics...

Jan 25, 2015 07:49 AM #22
Rainer
8,208
Ryan Tranchita

Hi Sally and Dave,

Very interesting read.  I constantly see you all over the place.  Keep up the good work and I look forward to hearing more from you. 

Jan 26, 2015 04:47 AM #23
Rainmaker
3,319,116
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Trust us Ryan Tranchita...you will continue to us everywhere....including hoisting adult beverages at happy hour...see you there ?

Jan 26, 2015 05:09 AM #24
Rainmaker
985,408
Beth and Richard Witt
Long Island Cash Home Buyer - Huntington, NY
Long Island Cash Home Buyer 516-330-6940

Hi Guys... Short sales are enough of a headache... add divorce to it and you deserve a big gold medal...  Happy Day

Jan 26, 2015 08:58 PM #25
Rainmaker
1,966,302
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Special sensitivity to families, couples splitting up and heading down different highways. High emotions and your cool, calm, help them mediate not litigate attitude gets the best solution possible. Whether they know it or like it. Down the road looking back at the wreckage divorce can cause will make them sing your praises. Thank you for helping them back on track.

Jan 26, 2015 09:36 PM #26
Rainmaker
1,808,892
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

Sally & david, I have experienced this many times...and one time where the ex would not cooperate but had quit claimed the deed to the other ex...the bank proceeded with the short sale anyway...never thought they would do it but they did...cooperation by both is the best way!

Jan 27, 2015 05:42 AM #27
Rainmaker
3,319,116
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

For us Ginny Gorman..our lawyer allies and judges are the very best in getting things done.. !

Jan 27, 2015 09:52 AM #28
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Rainmaker
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Sally K. & David L. Hanson

WI Realtors - Luxury - Divorce
For All Things Wisconsin Real Estate...Call the Hansons
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