We are often given a "heads up" by our referral sources that one of their divorcing clients will be calling to have us list their home along with some background on the case. They want us to contact them when we list the house . Our contact with their client is often more frequent...and certainly less expensive for the client.
We had gotten an email mentioning a client referral and the request to let the lawyer know when/if we had been contacted. A couple weeks later...returning to what we still refer to as the "tickle file"...we had not been contacted and looking at MLS...no other agent had listed the house.
We dashed off an email letting the lawyer we have not been contacted by the client she referred to a couple weeks ago. "My client is now considering bankruptcy, I will keep you informed." Bankruptcy...the word has the same effect as fingernails on a blackboard for us....and know that this couple must feel ....as have others that they have come to the "court of last resort" to be considering this action.
We don't offer legal advice to anyone...and sooo appreciate when lawyers don't offer real estate advice to clients. Filing for bankruptcy does not preclude doing a short sale. Listing the house as a short sale allows someone to stay in the house and not pay what is probably their largest single bill. During times of unemployment which also may mean the loss of health insurance...there are tough decisions people have to make about their priorities with more bills to pay than money to pay them. There may be children to feed and clothe, necessary medications to buy, a vehicle that must be maintained....utilities have to be paid to stay on....and the list continues.
What may also be the case....and we make no promises...is the homeowner may be entitled to a payment from the bank at closing if the house remains occupied until closing. This relocaton "funding" is a huge advantage when money is scarce and bills are not.
If bankruptcy is still legally advised...a short sale can still be done...listing the home as a short first...filing after closing or leaving the home out of the bankruptcy. We have had cases where couples were able to avoid bankruptcy by doing a short sale.
If you or anyone you know for reasons of hardship...divorce, death, unemployment...some combination of reasons...Call Sally K. & David L. Hanson, Broker Associates with EXP Realty 414 525 0563 to find out the possible option of a short sale and the benefit doing one may bring to a particular situation. If you do not live in Wisconsin, we will refer you to an experienced agent anywhere in the country. Sometimes the best things in life are FREE...a short sale may be one of them to begin the best next "happily ever after."
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