Are You Interested In Selling Or What??

Great!!!  You are referred a new client!!
You get a call from a new client and you are told that someone referred you.  You do your research prior to the Listing Presentation and you learn that the Seller has not made a mortgage payment in a few months.

You ask all the right questions to render some anticipated advice.

You provide your expertise.
The Seller is unemployed and does not qualify for a Loan Modification.  They are inclined to do a Short Sale as they want to protect their credit from reflecting Foreclosure.

They have not been served yet but you make them aware of what they will be faced with; letters from the bank, letters from the bank's attorney, a Sheriff knocking on their door, more letters and more letters.

The Seller is counting on you.
They feel relieved with your explanation but understand the market is real tough.  Their expectations of a sale are not great.  As the weeks go by and along with your periodical reductions, you continue to inform them that you are confident that there will be plenty of showings once it gets to a certain price level.

They continue to show signs of concern that nothing will happen and they will be foreclosed.  They are served and now the level of concern went up a notch.  You continue to put them at ease as you just hit that price level where you expect some activity.  Your marketing campaign kicks in at a higher notch and now you've got 5 to 10 people calling for showings every couple of days.

You pull through as you predicted!!
The Seller now has had 20 to 30 Buyers preview the property and offers are being promised.  You receive the first one.  The seller is very happy and somewhat relieved.  You know what you are doing so this was expected.  Buyers keep calling but now it's not as easy to schedule a showing.  The Seller doesn't return phone calls as often and is out and about more often.

You call one day and ask if they are going to be available and they tell you they are going to be out.  You mention that you need their signature on a second offer and they come clean and state they are at home that it's okay to stop by.  You kinda get the sense that they thought you were calling for another showing.

You end up with three offers and feel very comfortable with what you've got based on recent sales.  You get a phone call that the bank wants to order a rush BPO.  They actually want to schedule it in 3 days.

You call the Seller all excited for them because of moving now to the next stage....the BPO.

What do you mean you can't?
The Seller's response....."Oh, I'm sorry.  I'm going to be busy packing and preparing for a trip that I am scheduled for and I am going to be out for two weeks.  Can they come three weeks from now?"

Mr. Seller, it's a 15 minute, quick inspection and we'll be out of your hair; I try to express.  I'm sorry they say, it's just going to be too hectic for me that day.

As you know, we have several challenges with these Short Sales.  You have to price it right, you're racing against the clock, especially when the foreclosure proceeding has started.  You hope the bank will be prompt and receptive and is not just sitting on it's laurels hoping the $700 Billion bailout will get them off the hook at the full loan amount.  The last thing you need to worry about is a Seller that is so nonchalant about a real estate transaction that may affect them more negatively if we can't consummate it.

I often read articles about the frustrations being experienced in dealing with the banks.  There's just no place for a Seller to hinder a process that they in fact are counting and depending on you executing for them.

Now Monday, I have to reschedule the "Rush BPO" the bank was interested in executing for almost mid-November!!

Are You Interested In Selling Or What??

Sergio Rebollo Jr.
Miami Short Sale Specialist
Exit Prime Realty
www.SergioRebollo.com