The New Short Sale
In the current real estate market here in Southern
California there seems to be 10 buyers for every home that is listed for sale.
Within an hour or two of adding a standard listing to the Multiple Listing
Service, a listing agent can have multiple offers on a property that are truly
sight unseen. This is even more so the case for a short sale listing as they
tend to attract the attention of your occupying buyers in as well as the large
and growing pool of real estate investors submitting less than asking price,
all cash offers. This couldn’t be any more the case in Temecula, CA, a well
populated commuter tow in the south west corner of Riverside County.
With short sale listings attracting droves of buyers, you
have t ask yourself, how do the occupants of these short sale properties feel
about all of this traffic? When you consider that they do not benefit from the
from the sales price being driven up by the multiple bids, the many would be
buyers invade their privacy on a daily basis, and the sign placed out in front
of their home invite questions from the neighbor about the circumstances concerning the sale
of the home. The bottom line is this; the typical short sale transaction is
highly intrusive, embarrassing and frustrating to most candidates.
While a short sale can go a long way to limit the financial
damage a home owner stands to incur when compared to a foreclosure, it would be
a much easier choice to make the short sale didn’t completely disrupt the lives
of the home owner. This begs the question; what can be done to have the home
owner reap the benefit of the short sale and preserve some measure of privacy
at the same time?
It would seem that a Realtor in Temecula has come up with
the solution to this problem. This new short sale has been called the silent
short sale. The silent short sale includes all the benefits of a traditional
short sale including settled mortgage balances on all loans attached to the
property, settling all tax liens and HOA liens, providing relocation funds to
qualified home owners in addition to limiting the overall impact on your
credit. In addition it has dramatically
reduced the foot traffic in the home and done away with the yard sign in front
of the home that send a signal to the home owners neighbors, friends and family
that they can no longer afford to stay in their home.
The first order of business for the silent short sale
Realtor is to negotiate with the lender to leave the listing off of MLS. If
this authorization is granted, the Realtor uses back channels to market the
property such youtube, craigslist and email campaigns.
Next the Realtor will avoid placing a sign in front of the
property. This will help to limit the neighbor’s knowledge of the difficult
circumstances that the homeowner is enduring.
Another aspect of the silent short sale is that the home
owner can choose to forgo open houses. This will allow the home owner to enjoy
weekends in their home, without the disruption nosey neighbors and unqualified
buyers looking through all the bedrooms, closets and cupboards.
The silent short sale transaction seems to represent the
evolution of the short sale. It marries the financial and credit benefits of
the transaction along with the comfort and the customer service that home
owners have come to expect when choosing a Realtor to assist them in the sale
of real estate.
Samuel Rath
– First Team Real Estate
29121
Overland Drive
Temecula, CA
92591
951-200-4191
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