Wednesday, November 14, 2007
Thinking Outside Short Sale Box Works
Dear Sue
I was a victim in my own mind until I read your column, Thinking Outside the Short Sale Box. I believed that short sale or foreclosure were my only options.
As a small general contractor I was turning work away three years ago. I hadn’t been without work for over twenty years. I had a couple of really big jobs lined up that were going take me through the next year when my clients all got cold feet at the same time. Suddenly my cash flow was gone.
I had a few properties to sell but I had very little equity in them. My first thought was to dump them and do short sales. When I read your article, and you gave so many options, I decided to start with my lender. I called them and I asked them what alternatives they had to short sale or foreclosure.
I was relieved when they said I didn’t have to make payments for two months. It gave me time to regroup and pick up some lucrative remodeling jobs.
I consider being able to keep my home a blessing. Thinking outside the short sale box works!
Relieved Randy
Dear Randy
Relentless news reports have made short sales or foreclosures a troubled homeowner’s only solutions.
Stressed out homeowners are so caught up in their financial woes that they are blind to any other away out of their predicament.
Remember, the present financial situation is temporary!
A foreclosure or short sale does not have to be the default solution!
Dear Sue,
After reading think outside the short sale box, I refused to accept on offer on my home that put me in a short sale position. Instead, I countered an offer that I received. My agent reminded the buyer’s agent that if we had to do a short sale the lender might not accept it.
We countered back at the amount we needed to break even. Our counter offer was accepted and everyone was happy.
Happy Hal
Dear Hal,
Congratulations! I want to caution all of you to listen to your agent. That particular counter may not always be the way to go.
Every transaction is inherently unique. Your agent will help to evaluate your particular set of circumstances and advise you accordingly. That is the value of a good real estate agent.
Thinking outside of the short sale box can be a matter of good Home $$'s and Sense.
I was a victim in my own mind until I read your column, Thinking Outside the Short Sale Box. I believed that short sale or foreclosure were my only options.
As a small general contractor I was turning work away three years ago. I hadn’t been without work for over twenty years. I had a couple of really big jobs lined up that were going take me through the next year when my clients all got cold feet at the same time. Suddenly my cash flow was gone.
I had a few properties to sell but I had very little equity in them. My first thought was to dump them and do short sales. When I read your article, and you gave so many options, I decided to start with my lender. I called them and I asked them what alternatives they had to short sale or foreclosure.
I was relieved when they said I didn’t have to make payments for two months. It gave me time to regroup and pick up some lucrative remodeling jobs.
I consider being able to keep my home a blessing. Thinking outside the short sale box works!
Relieved Randy
Dear Randy
Relentless news reports have made short sales or foreclosures a troubled homeowner’s only solutions.
Stressed out homeowners are so caught up in their financial woes that they are blind to any other away out of their predicament.
Remember, the present financial situation is temporary!
A foreclosure or short sale does not have to be the default solution!
Dear Sue,
After reading think outside the short sale box, I refused to accept on offer on my home that put me in a short sale position. Instead, I countered an offer that I received. My agent reminded the buyer’s agent that if we had to do a short sale the lender might not accept it.
We countered back at the amount we needed to break even. Our counter offer was accepted and everyone was happy.
Happy Hal
Dear Hal,
Congratulations! I want to caution all of you to listen to your agent. That particular counter may not always be the way to go.
Every transaction is inherently unique. Your agent will help to evaluate your particular set of circumstances and advise you accordingly. That is the value of a good real estate agent.
Thinking outside of the short sale box can be a matter of good Home $$'s and Sense.
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