I got a call a couple days ago from a seller that wants me to list their home, but really they don’t! You see they are in a short sale situation, not by much, but enough. They wanted to limit the damage to their taxes by selling the home themselves, saving the commission and getting a smaller 1099 at the end of the year.
What was the problem? The bank told them that they weren’t going to allow them to do a short sale unless they used a real estate agent. They were very upset by that and they were letting me know it. They wanted to do a flat fee listing, but even the bank said that wasn’t acceptable.
So, they were calling me because when they searched for short sale agents in the Beaverton area, I was all over the net and they knew I was the expert and they wanted to know if there was a way they could get around that. I told them to be honest this is the first time I’ve ever heard of a bank doing anything like that and that maybe they should contact a lawyer to see if it was even legal.
But, I also said, that if they did decide to list with me, I would promise as I do all my sellers to make the process the least painful as possible. Knowing they only reason they were selling is because they were being forced to relocate by their company and because the housing market has gone down in their neighborhood they were going to have to short sale their home if they wanted to get out of this home and into a new one in their new location.
They were hoping to get a loan from their company to make up the difference between the market value and what they owed from their company, but they said they couldn’t count on that, so they needed to go the short sale route, just in case.
I wish them the best of luck and if you have a bank that is telling you that you must list with an agent, please consider me, I would love to help. But, I do suggest you talk to your lawyer and a good CPA before ever selling your home on a short sale, there may be other options.
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)746-9573
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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