San Jose short sale agent is frequently asked: What would you do?

By
Real Estate Broker Owner with KD Realty - 408.972.1822 CA BRE#01366594

San Jose short sale agent is frequently asked: What would you do?

 

I am frequently asked: What would you do?

 

person with question mark over their head

 

My role as a San Jose real estate agent and San Jose short sale agent is to advise, inform, educate, consult, direct, refer, manage, monitor, escalate, negotiate, follow-up, follow-through, schedule, confirm, communicate, and the list goes on and on. 

 

The one thing I cannot, will not, do is make decisions for my clients. When it comes to property and termite inspectors, choice of title companies and escrow officers, third party providers for statutory natural hazards, geological, and tax data, and HOA document reviews, I am expected to know who to recommend, or choose, and I do.  I am completely comfortable and confident recommending and using the best resources I know in the business.

 

I will recommend offer price, price reductions, things homeowners can do to prepare their home for sale, to keep their home in showing condition, recommend full cooperation with agents who want to show the property … and the list goes on and on.

 

When I am asked a legal question or a tax question I recommend my client consult with an attorney or CPA to get answers to their legal and tax questions.  I will recommend a CPA, real estate attorney, bankruptcy attorney, or any other professional my client my need to consult. 

 

Home buyers and home sellers, including San Jose short sales, have a role to play in the process.  Clearly a San Jose real estate agent plays a huge role in serving their client’s needs. 

 

However, when I am asked specific and direct questions like:

1.    Should I short sale my home?

2.   Should I let the home go into foreclosure?

3.   Should I stop making my mortgage payment(s)?

4.   Will I have to pay taxes?

 

My response is never a “yes” or “no” response.  My job is to provide all the information and resources to my clients so that the client makes an informed decision to short sale their home; allow their property to be foreclosed; or stop making their mortgage payments. It is not my role or my job to make these decisions for anyone!

 

Regarding taxes:  I am not a CPA and I am not licensed to give tax advice.  I will provide the guidelines regarding lenders issuing 1099’s on short sales; discuss the debt forgiveness program which is scheduled to sunset 12/31/2012; and provide referrals to all the professional resources necessary. 

 

Pushing question markOnce I know the person has done their homework and completed their own due diligence, and have reached the place of making their own decision, I will then ask:  What do YOU want to do?

 

 

 

San Jose short sale agent is frequently asked: What would you do?

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Kathleen Daniels, Broker-Owner of KD Realty, serving San Jose and surrounding San Jose Communities in Santa Clara County - Silicon Valley. Kathleen is a Certified Probate Real Estate Specialist.

BRE# 01366594

San Jose Homes for Sale

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Topic:
Home Selling
Location:
California Santa Clara County San Jose
Groups:
Hyper-Local
Realtors®
Posts to Localism
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BananaTude
Tags:
legal advice
tax advice
san jose homes for sale
foreclosure
short sale
san jose real estate agent
san jose short sale agents

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Rainmaker
223,599
Bruce Kunz
Realtor, Howell NJ Homes for Sale
Bruce Kunz @ Veltri & Associates, 866-483-5874 x464

Well said, Kathleen, and absolutely agreed! Whether in San Jose or somewhere else REALTORS (like most other professionals) provide advise & choice - not decisions. It's solely up to the client to decide which solution is best for them.
Once that decision is made, we move can forward with more advice and support through the processes.
Bruce

June 04, 2012 06:41 AM
Ambassador
1,156,125
Kathleen Daniels
San Jose Homes for Sale - Probate Specialist
KD Realty - 408.972.1822

Norma, It’s a fine line we walk …there have been a few times where I have said “I’m not going there with you” meaning this decision is YOURS and yours alone. It’s not about what I would do … because I am not the one doing this right here, right now. 

Juli, Thank you so much! Short sales definitely are not “get out of jail free” cards.  Buyers, Sellers, agents and negotiators all have a role to play and a job to do in order to get a short sale closed.  Granted it starts with the seller’s decision to hire me … but I definitely do not do it alone. 

Lottie, Thank you. It appears to have worked.  Thanks for your kind words.  We all enjoyed the coveted Featured Post. 

Michael, Even knowing the laws and programs regarding debt forgiveness, etc. we cannot definitively say to anyone … you will have to pay or you won’t have to pay.  It needs to come from a licensed tax advisor. Thank you.

Bruce, Especially dealing with homeowners in financial distress, I always start with their end goal in mind. Ideally, what would you like to see happen … what do you want?  That is the starting point. Thanks for your comment.

June 04, 2012 07:43 AM
Rainmaker
570,044
Bill Gillhespy
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos
16 Sunview Blvd

Hi Kathleen,   Terrific review of highest/best practises for agents.  Scary to hear agents going well beyond our limited area of expertise !

June 04, 2012 09:17 AM
Rainmaker
529,470
Gary Frimann
California Broker and REALTOR
Eagle Ridge Realty / Signature Homes & Estates

Kathleen, great post.  I have seen and heard of too many agents that seem to give advice where it crosses the line on especially when it comes to taxes and/or breaching a contract (non-performing on the note).  That is just reckless.  I have a hunch a ton of lawsuits are going to be filed in the next few years.

June 05, 2012 09:05 AM
Ambassador
1,156,125
Kathleen Daniels
San Jose Homes for Sale - Probate Specialist
KD Realty - 408.972.1822

Bill,  It is scary ... for the agents and for those who receive the information which may, or may not, be accurate or apply. Thanks for stopping by.  

Gary, I tend to agree with you about the lawsuits.  The attorneys will be the next in line to profit from the mess we are now attempting to clean up.  Thanks for your comment.

 

June 05, 2012 02:07 PM
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