Updated: Nov 14, 2020
When I met with potential sellers that wanted to sell their home they seemed very frustrated with the fact that their home is not worth what they thought (they owe more than it is worth today), after reviewing the comparable properties and preparing a market report. The sellers had no idea how they were going to move. When I spoke to them about a potential short sale, they had no idea what a short sale is and the purpose of it. Short sales are not for everyone but can be a useful tool in selling a home that is not worth what the payoff balance is. My sellers were in the dark about it. There are so many people that do not know what options they have if they have to move and they own more than the home is worth. It is our job as agents to explain all of their options so they can make the best decision for their situation. After explaining the process to my sellers in regards to short sales, they were relieved that they had options and were very happy that they contacted me. As they said to me “We learned something new today”. As I did also.