"I told the Buyers the Bank would replace the roof on this short sale"..said the Selling agent

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

 Short sales are a niche that not every agent chooses and we appreciate that. We give each agent and prospective upside down houseshort sale buyer written materials about what to expect with the purchase of a short sale.  "As is" means exactly that....not as you wish it to be...it is truly "What you see is what you get." That may well mean that not every kind of financing will work for every short sale. An FHA loan may have to be a 203K loan to account for some deferred maintenance....the replacement or repair of things that the homeowner cannot afford to address.

   If there are issues that the homeowner knows about...or that we can readily identify as we list the house, they are reported on the state mandated real estate condition report. We let interested parties know that for this or that reason, some kinds of financing won't work and make other suggestions for alternative financing.

 curling shingles   Roof replacement due to faulty shingles can come at any time in the life of a home.....and this was the case on a relatively "young" home. Curling shingles were obvious and a tearoff needed. We recommend tearing off any shingles but there is no choice with curling evident everywhere.

   Making a long story shorter...the selling agent who claimed to have done "dozens of short sales"  told the Buyers that the bank would pay for a new roof.  Nice thought...not reality.   Happily Ever After

    The happily ever after comes when we gave the agent a lender who would finance the house...the Buyers were able to live their dream in owning an otherwise lovely home....and the Sellers were saved from foreclosure...it doesn't get better than that.

    There is never any harm in "not knowing" the harm is in not knowing what you don't know.

    If you or anyone else you know is looking for realtors who DO know and will research what you need to know...Call the Hansons in southeastern Wisconsin for your happily ever after in all things real estate.
  

   

 

 

Posted by

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


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Rainmaker
3,319,116
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Interesting Lise...if that would appear in out MLS we would also have no showings...yicks !

Jul 13, 2015 08:00 PM #2
Rainmaker
3,254,284
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

This is just another reason why The Hansons are the best Realtors to hire in WI!

Jul 13, 2015 08:08 PM #3
Rainer
1,756,848
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Sally.  There is no more "co-broking" in my real estate transactions.

Jul 13, 2015 08:14 PM #4
Rainmaker
4,432,533
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I agree with Sheila, Home buyers in your area should hire you to be their agent.

Jul 13, 2015 08:17 PM #5
Rainmaker
3,319,116
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Interesting Conrad Allen....we would be run out of MLS on a rail if we tried to do that here !

Jul 13, 2015 08:17 PM #6
Rainmaker
2,295,389
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Sally. You know and understand how short sales work and can guide your sellers through the process.

Yes, a 203 K is a great way to handle some of the renovations and in many cases creates instant equity for the buyer.

Jul 13, 2015 08:20 PM #7
Rainmaker
1,568,422
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Sally K. & David L. Hanson The selling agent 's puffing bit at the edges of fraud. Eventually, that agent will be in a a serious civil suit. Glad you were present to properly help the buyers.

Jul 13, 2015 08:24 PM #8
Rainmaker
3,744,117
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Sally and David. You are right about this and your point is enhanced but yur type.

Jul 13, 2015 08:40 PM #9
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

Well done Sally and David.  Looks like you managed to save this transaction.

Jul 13, 2015 09:38 PM #10
Rainmaker
2,346,102
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Don't you  just love it when those agents "assume" what's going to be done.....

Jul 13, 2015 10:29 PM #11
Rainmaker
699,027
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

Ya right, the bank will .......... very funny.  Just tell the sellers agent to put the pen to the paper, but you already knew that.

Jul 13, 2015 11:17 PM #12
Rainmaker
5,579,436
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Home buyers and home sellers are in good hands when they use your professional real estate services.

Jul 13, 2015 11:48 PM #13
Rainer
270,324
Rosemarie Heindel
Harry Norman Realtors - Big Canoe, GA
Rosemarie Heindel

That seems like a ridiculous statement for the selling agent to make. Hopefully most agents who do short sales are better informed. I wouldn't want him selling my home, short sale or not.

Jul 14, 2015 01:30 AM #14
Ambassador
3,890,768
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Sally and David glad to hear that it end well, but that is the kind of false information that could have cause the deal to end very badly.

Jul 14, 2015 09:09 AM #15
Rainmaker
1,864,488
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Why would it be in the bank's interest to replace the roof?  And to expect it is odd.

Jul 14, 2015 08:12 PM #16
Rainmaker
3,319,116
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Yes Jay Markanich...odd is the kindest way to put this !

Jul 14, 2015 08:51 PM #17
Ambassador
4,016,336
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Sally and David- that is why sellers and buyers must work with an experienced agent such as yourself. 

Jul 15, 2015 01:45 AM #18
Rainmaker
1,808,667
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, these agents do not deserve to hold any title to real estate agent for giving out poor info...how is the unsuspecting buyer to know...oh, yes...they should have had a buyers agent who knows the short sale business.

Jul 15, 2015 11:17 AM #19
Rainmaker
3,319,116
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

The agent kept bragging about how many short sales he did..there was no record in mls he did any

Jul 15, 2015 11:32 AM #20
Ambassador
3,984,175
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Short sales do take an experienced knowledgeable agent that knows what the banks are likely to do. You are the ones to call Sally and David.

Jul 15, 2015 11:35 PM #21
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Rainmaker
3,319,116

Sally K. & David L. Hanson

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