Gainesville Short Sales – Why do Short Sales Not Close?
Gainesville Short Sales – Why do Short Sales Not Close? How many times have you heard about that bank short sales do not close? When I speak with clients who are interested in getting a great deal through buying short sales, they are consistent in saying that short sales either do not close or take over a year to short sale. I also hear this from Gainesville Real Estate Attorneys who refuse to handle short sales. Additionally, there are agents that act as if they understand short sales and make demands about timelines and statements without understanding how the timelines work and short sale process actually works.
What is the main reason you are not closing your Gainesville short sales? Do you truly understand how to short sale?
- If your ratio of closing short sales is not over 90% then you should not be listing short sales and you should refer them to a Gainesville Short Sale Agent that achieves this success rate or better.
- Are you completing an evaluation with each seller prior to listing their home for a bank short sale. This critical first step will provide you the information whether the home will close or not.
The last thing anyone should do is sacrifice a homeowner by getting a listing without taking into consideration you are gambling with their home and livlihood. Not every homeowner will qualify for a short sale or are willing to dedicate themselves to the process.
Here are a few steps each Gainesville Short Sale Agent needs to verify and clarify prior to taking a listing:
- Review the short sale package the seller turns into you – this should be completed prior to listing their property for a short sale and it will reveal whether there will be any issues that need to be addressed before listing the home.
- Make sure the seller understandts the short sale process – You will know upfront if they are motivated to provide you the information necessary for you to help them through the process and if they are committed to participate, if you complete the intake properly there should be no reason for the short sale not to close.
- Do not give up on the lender, do not give up on your seller (remember this is a very emotional process), do not act like a debt collector. This means you need to be the advocate, the one that brings the parties together for a successful close, the short sale agent that is dilligent, consistent, honest and assertive.
|IF the seller is going to get foreclosed on next week- you don’t LIST the short sale!|
|The odds are in your favor if you know how to negotiate a short sale that you will get your short sales closed.|
If you do not then you need to take a good negotiating course and short sale course such as the one offered by Katerina Gassett who has authored Short Sale Success. Do not take the listing if you lack the experience. Additionally, you can work with an experienced agent and help them with their bank short sale listings. Yes they are time consuming and can be tough. There may be days you speak to over 10 people at one short sale bank to get the right answer or to speak with someone who knows what they are doing!
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Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.