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)622-8739
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.
What if there was a way you could search the MLS for FREE just like Realtors
Now you can access the MLS using similar tools as Realtors. You are in control of what you want to search for, and you can search the MLS at your leisure. The information you submit in the form below can also be used to put you on an automated system where you'll be emailed all homes that meet your search criteria. You'll get internet access to a website that includes pictures, prices, and addresses to real estate that's listed in the MLS!
Click here to start your FREE home search now
