Hi Folks! I sold a Lakeland Fl short sale with SunTrust recently. The lender even waived deficiency on both loans but why do I feel really not happy? They tried everything possible to keep the home, they applied for loan modification in the hopes to keep the home, as with so many other Lakeland homeowners trying to hold on, provided tons of paperwork over and over again, made payments after it was approved, only to be turned down a few month later. They even gone through court mediation. The outcome was that their only option would be to find a Lakeland short sale agent and get this home sold within 120 days or it will be foreclosed.
When the homeowners called me and sent me the necessary documents for short sale, we immediately put the home on the market at a price that would satisfy the investor’s net. I was lucky because doing a comparable market analysis I realized that the list price would most likely generate many showings. Being in direct contact with the lender’s negotiator helped since the homeowners gone through mediation, they had priority in getting a short sale approval letter once we got a fully executed contract.
Shortly after we put their Lakeland FL home on the market as a short sale, showing requests filled my email inbox and phone started to ring. We had multiple offers within a week. Once I requested to the buyers agent to submit their highest and best use, the homeowners took the best offer. Buyer did all inspections right away and was satisfied with the outcome. The sellers received short sale approval letters within days and we closed in 42 days and my sellers received $3,000 for relocation assistance at closing.
Although short sales is the way to go to avoid foreclosures, it still sucks for homeowners who try everything to hold on. There are folks who are not emotionally attached and there are folks who put a blood and sweat into their home and although we as short sale agents try to make it as painless as possible, it is not always as pain free – we are still human after all even though we are in business.
I would have much rather not sold the home as a Lakeland FL Short Sale. I’m sure the seller would have given back the $3,000 relocation assistance if they were given a choice to keep the home. Nothing is sadder for homeowners getting caught in this horrible down market when there is only two options, short sale or being foreclosed. Sometimes, I just wish I could knock some sense into their heads….
I agree with you Petra. Distressed homeowners are going through a lot of stress and pressure.. In my experience as Phoenix Short Sale Agents and you as Lakeland Fl Short Sale Agents, the only thing we can do is to help them through a successful short sale and avoid foreclosures.
Bob Hertzog
Summit Home Consultants
Phoenix Short Sale Agents
[...] all short sales are created equal. My last successful Lakeland FL short sale was as smooth it can be without any major issues, however let me show you how short sales can be [...]
Petra,
Even though they were not able to save their home, you have given them the opportunity to sell and not have the stigma of a foreclosure on their credit report. We as Eustis Fl Short Sale Agents and you as a Lakeland Fl Short Sale Agents have to be satisfied with the fact that you have given them the opportunity to sell their home and move on with their heads held high……and avoid foreclosure.
Jimmy Williams