Today, is a good and sad day for a homeowner selling their house as a short sale. The sale was officially completed and recorded with a new homeowner taking posession. The Sellers are happy and relieved they are out from their mortgage but sad because they no longer own their home.
It's always difficult for a Short Sale Agent to sell a home for a distressed homeowner. Sellers often times don't want to sell their home but have to for a variety of reasons. So while we do our very best to fulfill our responsibilities it's sad when we finally have to call and tell them they are no longer the owners of house they once owned, filled with many memories.
Their story is a familiar one, unfortunately. House values fell, wages were cut back, and their mortgage payment adjusted. They received several offers, were in contract once but the Buyer back out. Re-listed the home and again received several offers. This time the Buyers hung in there until we closed.
The timeframes for Bank of America short sale approval improved with the 2nd offer. From start to finish it took less than 75 days. Nevertheless, it was an emotional roller coaster. Once the decision was made to sell, they had to go through lots of ups and downs before the sale was officially completed. None of which they could control.
So now it's over. They can start over, repair their credit and look forward to buying again in a couple of years. No one knows what the market will be like then but they are hoping the home values and interest rates will be where they are now or lower. Perhaps a bigger house in a neighborhood closer to work.
We look forward to helping them buy their next home when the time is right.
Diane and Doug Briggs have earned the nationally recognized Short Sales & Foreclosure Resource Certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.
They are experienced successful Sacramento Short Sale Agents covering the Sacramento Metro Area, including the areas of Elk Grove, Pocket, Greenhaven, Wilton and Galt. Hablamos Espanol. Put our experience, integrity and knowledge to work for you. Call Diane at 916-956-4912 or Doug at 916-747-1592.
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