Short Sales and Divorce...

By
Real Estate Agent with Keller Williams 414-525-0563

  Since a part of our practice is devoted to short sales, divorce can be one of the situations we find prevalent. It can be that the lack of finances due to unemployment or underemployment has put a strain on the family's finances.

     Often, one member of the couple "knows' that if she/he just asks one more realtor....they know the equity they imagined...they wanted, they needed to start over will be there somewhere....after all the "assessment is....the appraisal was....they got the home equity loan for...so it HAS to be true....that same bank that gave them the loan can't now say it appraises for less....Sometimes divorce not only shatters the relationship, it also dents the dream of starting over with the money from the sale of the home that was marital property. 

 

divorce

We often find realtors who have been hired by a friend of one member of the couple....who has told them what they wanted to hear....and has held up the progress of the divorce, the sale of the property and the opportunity to begin their lives over....the house isn't selling because it is priced too high. It doesn't begin to compare to other homes in the imagined higher price range.  The husband/wife doesn't understand how just one more thing could go wrong......the good news is that a short sale can make starting over easier....not immediate...but possible a lot more quickly and easily than a foreclosure.  In southeastern Wisconsin...if your home has been on the market for 120 days or more without an offer...you have held the price line that you want...that you believe you need...you are most probably delaying your happily ever after. Just like you wanted to know the truth about your relationship and made the decision to end it....sometimes ending this chapter of your life with the sale of a home.....a traditional sale of a short sale...is the best way to start the next chapter of your life.

 

Posted by

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS

Sally K. & David L. Hanson  

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Rainmaker
543,273
Toula Rosebrock
Diane Turton, Realtors, Forked River, NJ - Lacey Township, NJ
Broker/Sales Associate, Realtor, Lacey Township,

ToulaRosebrock,com

Hi Sally & David:

I'm in the middle of a nasty one...waiting for the settleman in order for my buyer to purchase a home!

In fact, sometimes, divorce and short sales, go hand in hand.

Nov 02, 2009 07:15 AM #1
Rainmaker
1,426,197
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Short Sale - CDPE, REDS

It's difficult for people to maintain a household on one income...nasty is often where these things end up !

Nov 02, 2009 07:32 AM #2
Rainmaker
1,409,825
Kristin Johnston, Waukesha Realtor 414-254-6647
RE/MAX Realty Center - Waukesha, WI
Waukesha County Realtor, RE/MAX Buyer Agent

Well done again you guys!  I have been thru this too (on transactions, not me personally!!! ) and everything you say is true!

Nov 02, 2009 08:16 AM #3
Rainmaker
1,426,197
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Short Sale - CDPE, REDS

What you want...you have to have...you need....is not always what you get....

Nov 02, 2009 09:43 AM #4
Rainmaker
246,849
Katrina Madewell
Charles Rutenberg Rlty- More than 5,000 agents(813) 777-1196 - Tampa, FL
Tampa FL Homes for sale | Tampa Bay - (813) 777-1196

THIS reminds me of a listing I have now where the husband and wife are getting a divorce.... crazy story, over priced from go, turned down multiple offers (over several months) and now they are left with a short sale getting ZERO.

I really should loose sleep over people that won't listen, but I can't help it!   ugh!

Nov 04, 2009 12:05 AM #5
Rainmaker
1,426,197
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Short Sale - CDPE, REDS

If most realtors got paid by the hours of sleep lost on Short Sales...we would all be rolllling in Money ! Good to hear from you !

Nov 04, 2009 05:54 AM #6
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Rainmaker
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Sally K. & David L. Hanson

WI Realtors - Luxury - Short Sale - CDPE, REDS
For All Things Wisconsin Real Estate...Call the Hansons
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