Short Sale Hurdles “Believe me, it’s not what it is.” –What the cheating husband says to his wife when he’s caught in the act; New Yorker cartoon Short sales have a (very deserved) reputation for presenting Buyers (and their agents) with multiple, patience-testing hurdles. Because the owner owes more than their home is currently worth —...Read More
“Preapproved Short Sale” (and Other White Lies) If your parents don’t have kids, you won’t either. What’s that line got to do with real estate? Put it this way: if your listing doesn’t get showings . . . it ain’t going to get offers (or a Buyer), either. In a nutshell, that seems to describe...Read More
Warning: Use of “May” May be Problematic For the uninitiated, let me decode “possible short sale”: The odds of it not being a short sale are about as high as the following bad things not having occurred (which is to say, infinitesimal): “I may have scratched the car.” (wife to husband — or vice versa)...Read More
Mom, Apple Pie — and No Banks Probably the most popular term on MLS at the moment — right after “mint,” “move-in condition,” and “experienced short sale agent” — is “traditional seller.” No, that doesn’t mean the owners believe in “Mom and apple pie,” dress conservatively (no face jewelry or tattoos), or otherwise have an...Read More
Houses on the Verge (of Foreclosure) As sales pitches go, it’s not quite as lame as the infamous National Lampoon cover at right (“If You Don’t Buy This Magazine, We’ll Kill This Dog”). Still, you wouldn’t exactly label as “enticing” a house that sought to attract Buyers with this hook: “Hurry! Act now before the...Read More
“It’ll Go Fine — Really” Short sales deservedly have a reputation for being aggravating time sinks for home Buyers (and their Realtors!). Even when they work out — which is less than one-third of the time — the Buyer can easily wait months for the bank(s) holding the mortgage(s) to agree to take a haircut...Read More
