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WE HANDLE SHORT SALES IN AVENTURA • BAL HARBOUR & SUNNY ISLES BEACH
There have been so many posts written about short sales on Active Rain lately. When I first started blogging on Active Rain in June of 2007 there was only us and Dan Forbes that were writing series on how to do a short sale. At that time I would say that 90% of all the comments that we received were that agents were refusing to list or sell short sales. In fact, there were brokers who dissallowed the agents in their offices to participate in Short Sales.
It only took about a year or so before agents started to realize that if they did not at least show their buyers short sales that they may not stay in this business. Although I don't believe that to be true because there are many niches to conquer in real estate- but that is another subject. There are now designations and certifications so you can call yourself a short sale expert even if you have never done a short sale through to closing.
As soon as Nestor got his real estate license in Texas many moons ago- his very first listing was a short sale and after they had an offer he closed the short sale in 2 weeks. Yep, 2 weeks is how long it used to take to get a short sale approval. We did short sales back in the 80's recession also.
Short sales are not new. They are not foreign. They have been around as long as mortgages have been around. Do you remember or still see those signs anywhere in your state from the company, We Buy Ugly Houses? They were doing short sales long before most agents knew what the term meant.
Even as short as last week, here in Florida- I was asked by a real estate agent who was setting up a showing for one of our listings, "What is a short sale?". I was about to ask her what rock did she just crawl out from under, but instead I educated her about what a short sale is and how to write up an offer for a short sale and how to explain it to her buyer.
Of course writing short sale posts on Active Rain is great for Google Juice. I have seen a huge increase in real estate agents on Active Rain writing posts about short sales and many of these posts are being featured. The only problem with that is that much of what is being written are simply not facts.
Much of what agents write about is one or two or three listings that they have closed on as short sales. While it is fine to write from one's own experiences and tell the process as it pertained to that particular short sale it is not a good idea to write blanket statements about short sales.
I highly recomment that if you are not an authority on short sales that you do not write articles as an authority. Instead for your protection and to do the consumers justice with correct information please preface your posts with disclaimers:
- If you are writing about certain customs in your state- let the public know that your post is about your state. This way a seller in Florida does not read a post from someone in California and form the wrong opinion such as- the state of California is a non deficiency state for owner occupied primary residences and the state of Florida is a deficiency state. This is a huge difference.
- I don't think that consumers understand the law in different states so if you are writing in generalities- don't! This is NOT fair to homeowners who may have found your blog online and then take your word as gospel.
- If you are basing all of your short sale article on just one or two of your closings and you are sharing that information to the nation and the world in a public post- be careful. You need to make sure that you crossed all your T's and dotted your I's. I read posts written here on Active Rain where what transpired during the short sale process was NOT in the best interest of the seller. This is not information you want to share with the world and have someone come back at you later.
- Know what a short sale is. Even today I am reading on Active Rain definitions of what a short sale that are not true or factual.
A short sale is a seller's lender agreeing to accept less than what is owed to them. Period. End of story. Nothing more, nothing less.
Anyone can ask their lender to accept a short pay off. There are so many articles giving false information on the Internet and on Active Rain about sellers' having to qualify and who can get a short sale approved and who can not. This is extremely unfair to the consumers reading your blog. You may not want to list certain short sales but the fact is that anyone can ask their lender to accept a short pay off. If you do not want to list certain short sales because of your judgment that is a call you make because it is your business but don't spread it all over the Internet that property owners of certain circumstances can not do a short sale. Your ethics may not be their ethics.
The extent to which it will be approved will depend upon the real estate agents' ability to negotiate. I will write another post about that.
I want to apologize that my short sale book is not ready. I am on my last few chapters and then it will go to the editor.
Let's Get Down To The Truth About Short Sales by Katerina Gasset is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License.
Let's Get Down To The Truth About Short Sales was first published on South-Florida-Luxury-Living.com
• Aventura • Bal Harbour • Bay Harbor Islands • Fisher Island • Golden Beach • Hallandale Beach •
• Hollywood Beach • Miami Beach • South Beach • Sunny Isles Beach • The Waterways •
SIB Realty, Llc • 18335 Collins Avenue • Sunny Isles Beach, Florida 33160
786-229-7999 CALL US TODAY! 305-935-3533
Mott Marvin Kornicki, Associate/Realtor®
OUR BLOG | PROPERTY SEARCH | VISIT OUR SITE | CONTACT US | COMPANY LISTINGS | MY LISTINGS
Mott Marvin Kornicki // Real Estate In Miami // Associate | Broker • 30+ Years
Aventura // The Waterways // Bal Harbour // Sunny Isles Beach // Florida
