DIVORCE, SHORT SALES AND FRIENDS....oh my!

By
Real Estate Broker/Owner with People first then business! Ran Right Realty Riverside, Ca BRE LIC #636943

I hate these. That's why they keep coming to me I suppose. I have a friend who I helped get a refinance 2 years ago and then counsel about not divorcing at that time. Don't do it says I, and give many reasons not too. All the reasons made sense at the time. Now, I get a call asking if I will help sell the home.

BATTLE STATIONS..not

The parties are on talking terms but some venom has been spotted if the subject is pushed. Having friends go through this is bad enough. At least they know that I will watch over both their interests. If this is not enough high maintenance, what is owed on the house versus what it is worth is close. So, a short sale may be coming our way.

MINIMIZE THE DOWNSIDE

Both of these people are going their own separate ways and I don't want their credit ruined when they do. Of course the only other option is to make up the difference with the bank for the short fall. Of course I may have to re-adjust the ole commission too as money is tight

MY LEAST FAVORITE COMBO

Divorce, short sales, and friends still make for strange bedfellows. In addition both of these people will be renting very soon and that market requires a credit report and references. These come along every once in a while, and I will do my best to make parting not such a sweet sorrow.....

Call me...I am here for you is all I can say

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Rainmaker
980,544
Edward & Celia Maddox
Solutions Real Estate - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

These are always tought to deal with.  A recentl one, they fought over the furniture that was still in home.

Mar 24, 2011 11:18 AM #1
Rainmaker
1,273,641
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

Hi Maddox es....I will have the peace pipe out and burning. Making them smoke it will be another matter....

Mar 24, 2011 11:19 AM #2
Rainmaker
107,943
Melanie Hedrick
Elite Texas Properties, Dallas & Collin Counties best homes! - McKinney, TX
972-816-7205

Good luck to YOU!  Both of those types of transactions can be extremely challenging to ALL involved -- let alone combining the situations!

Mar 24, 2011 11:23 AM #3
Rainmaker
453,503
John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

Richie - While we sometimes feel compelled to "help" others in what we perceive as unpleasant situations, the percieved unpleasantness may be the proper medicine.  As friends we offer our services/guidance/advice, but the end result may not be what we thought best.  But then, we can never know what is best for others.  Somehow I know you'll let go at the appropriate moment.

Mar 24, 2011 11:26 AM #4
Rainmaker
1,273,641
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

Melanie...I am suited up and ready for bear....I just hope I am not bear food....

 

John...you have spoken well on this subject. I am seeking objective ground now....thank you

Mar 24, 2011 11:35 AM #5
Rainer
279,694
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Leesburg, VA

I understand. I've done some of these and it can be a pain, especially if one has already moved out, and you have to meet eah of them in a separate location to get everything signed. It's worse when one wants to lower price, and the other refuses.

Mar 24, 2011 11:43 AM #6
Rainmaker
1,273,641
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

Jeff....I can tell you have been there and have done that....I never know what to expect. The emotions can be overwhelming for the main parties at times...

Mar 24, 2011 11:47 AM #7
Rainmaker
315,442
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

As short sale Realtors we can help solve their mortgage problem which goes a long way toward mitigating their stress level. The rest of the problems are bigger than we can handle.

Mar 24, 2011 12:00 PM #8
Rainmaker
1,273,641
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

Dave...very well said..thank you

Mar 24, 2011 12:05 PM #9
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Rainmaker
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Richie Alan Naggar Author PEARLS SERIES of books

on LIFE and LOVE plus Real Estate too!
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