When A Home Is Lost To A Trustee Sale 吴敦义国民党主席 开窗投食被熊扒住

Real-Estate This event is can be devastating because it signals the end of the transaction. The foreclosure has happened, and the title for the property now belongs to the lender. The homeowner will have a foreclosure on their record, and will be contacted by the lender to move out, or be evicted. The buyers will be extremely disappointed having waited several months, and not being to complete the purchase of their dream home. There will always be a percentage of homes that will end up in foreclosure. The lenders may not have the staff or process to handle the large volume of short sale applications; the lenders may have overvalued the property and rejected reasonable purchase contracts, the property just did not generate enough interest regardless of the list price, one of the lienholders refused to release their lien. We recommend pre-qualifying a short sale listing opportunity by evaluating multiple criteria to determine the chances of success. However, when all of these criteria are met, and the transaction still fails to complete, we are left with the aftermath consoling the sellers and buyers, and coming to terms that we did not earn any commission from the sale. In the case of a foreclosure, we take it personally because we failed to achieve the objective of selling the property. What are the gifts when we experience a foreclosure? Lessons learned After a trustee sale, I take a step back, take a deep breath, and look for what lessons I learned during the process. I am now better able to identify which lenders do not currently have the staff or processes to handle large volumes of short sales. I can better evaluate red flag factors, such as when a junior and senior lienholder do not have a good history of cooperation. Lastly, I can evaluate whether my processes can be improved, and I can eliminate strategies that didnt work. Expanded Network In trying to stop a trustee sale, I often get connected to managers or senior staff who try to help. Even if they are not able to help in this one situation, I have the ability to build rapport and expand my network for future short sale applications. Transition for Homeowner The loss of a home, the fear of eviction, combined with the negative impact of a foreclosure on a credit report. This is what a homeowner faces after a trustee sale. As a realtor, you still have an opportunity to be of service. Be aware of what your client may need, and keep a good network of service providers who can help your client transition rental home agencies, credit repair specialists, moving companies, real estate attorneys. Look out for our future blogs/articles from our Short Sale Leadership Series content. For more information on becoming a Short Sale Leader in your community, join WHB Solution’s community of short sale experts at /members. To view our blog updates, visit /blog. To view our blog updates, visit /blog. About the Author: 相关的主题文章: