Saturday, December 11, 2010

Phone Call About SS?

Good Morning! I'm up, reading, thinking, planning my day. That's my Realtor life.

Today, I'm thinking about the phone call I received yesterday from one of my peeps about short-selling their home. Met with them a few months ago, concerned that the financial hardship wasn't truly there....just the value of the property had declined.

They have an agent that is being 'pushy' (their word) with them about a supposed investor that wants to buy in their track and would possibly allow them to rent the unit once it transfers ownership.

So, they call me for my opinion.....after the listing agreement has been signed with the other agent.....who isn't even a member of our MLS. Has an active license, but, in her own words, 'doesn't do much real estate.' But, has this investor buddy.

Hmmmm.....interesting isn't it?

Well, I can't say anything bad about this person, that's just not nice. I don't even know her, and it's just not PC. So, I make a couple of suggestions. Say, watch out for double-ended escrow. If the investor doesn't come to light right away, decide if you want to pursue the closing of a SS. I say, no feelings hurt if they want to use her.

And, we close the conversation with.....'Contact your Accountant. Speak to your Financial Advisor. Telephone your Attorney.'

Each SS situation is different. And, it is supposed to be valid hardship. And, when you're almost a year delinquent, does it really matter if you pursue a SS or let it get foreclosed upon?

Your choices, just like your choice of agent to work with. Some are good choices, some may not be. Still yours.

Happy Saturday morning!

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