|
San Diego Short Sale Info |
| Print |
|
San Diego Short sales
Homes sales have fallen dramatically. Why aren't more short sales being completed? What happens if at the currently listing price you are not short but the offers you are recieving will require you to bring money to the table? Why are seconds starting to hold out for big money?
How many homes has your Realtor sold in the last three months? how many have been short sale? What percentage of his listings are those sums?
This is a critical time. You and your Realtor should not be experimenting. Homes that sell and homes that sell short are being sold because some Realtors have been smart enough to adapt, negotiate and win.
Our firm has referred listings out all over California and Florida. We have seen many short sale programs in action. Very few are designed to do the job propertly. Most are cobbled together from old techniques which no longer work. Being a nice person and having great customer service does nothing for lenders.
This market calls for smart, very skilled, persistent,business minded people. Many Realtors are unwilling to do short sales properly because they wish to keep the other homeowners and listings in their neighborhood happy. A good short sale Realtor has to be willing to get your listing sold. That may mean lowering the price and pissing off the neighbors. (especially if the seller does not have to worry abou the tax implications.)
First a California Realtor must design a program to find buyers in a slow market California real estate market. (very few Realtors know how to sell homes right now. Last years techniques are not working. If you don't believe us ask your Realtors how many short sales they have closed in the last 3 months.)
Finally, before you sign the listing agreement - ask for a copy of the listing agreement. Review it for the following:
1. Your right to reject the lenders terms and conditions:
2. Your right to cancel the listing at any time upon advice of your attorney. (your lender may have just agreed to accept a deed in lieu of foreclosure.) :
3. Clauses which should supplement the California Association of Realtors short sale addendums.
If you would like more information about what should be in a good short sale program fill in the form below and let us know.
Update: we are still seeing many Realtors using old forms or very one sided forms.
Make sure your Realtor uses the most recent California Association of Realtors forms and that your Realtor knows how to use the forms correctly. Then make sure you supplement those forms with your requirments. A Realtors stock forms do a great job of protecting the Realtor but not you. Finally Do not sign the San Diego Association of Realtor short sale addendum without the advice of an attorney. You may lock yourself into a disaster.
|
|
Last Updated ( Sunday, 25 May 2008 )
|
San Diego short sale info