Over the past few months the number of phone calls that we’ve received from people that “need” to “short sale” their homes has grown dramatically.
When we get these calls the first thing that we talk with clients about is to see if they have a desire to stay in the home and if they have discussed their situation with an attorney/tax accountant that is familiar with their situation. Each situation is different and the ramifications for doing a short sale (or foreclosure) may be different. As Realtors, we are not in the position to give this advise and we could go ahead and list the home without asking this but we are here to do what is in the best interest for the client…which is always to be informed first.
The first thing we usually do is sit down with them and help them contact their lender. Many homeowners don’t realize that this can be done but you can usually determine if the bank is willing to look at a modification or refinance, or determine if a short sale may be possible and get the short sale package sent to them in the mail. By having a conversation with the bank the homeowner will be aware of more of their options and we’ll be more confident that listing the home as a short sale is the best route for them. This is a simple process, all you need is your loan information and bank’s phone number.
What many homeowners don’t know is that a short sale isn’t available by the bank for all sellers. The bank has to determine if the seller has a real need to sell the home short and we have seen homes get listed…receive an offer…sit at the bank for months…only to be rejected because the bank felt the seller didn’t actually qualify to sell the home short. This is not a winning situation for anyone involved, it only wastes time and raises false hopes for the seller and buyer while clogging the system for sellers that actually qualify for a short sale. Having the conversation with the bank up-front saves time and energy by all involved.
Our first goal is to keep people in their homes but we are experienced with the entire short sale process, from listing to closing and would be happy to discuss your situation with you! Just call us 7 days per week at 530.227.0345 or email contactus@sellingredding.com for a no-obligation free consultation.
Clint Cronic, Broker and Mindy Cronic, MBA
Owners, Next Generation Real Estate Services
942 Merchant Street Redding, CA 96002
contactus@sellingredding.com (530) 227-0345
www.sellingredding.com www.reddingblogs.com
www.reddingblogs.com/foreclosuresandshortsales
CA DRE License #’s 01314114 and 01458166
