Buying a Wellington Short Sale: Be Prepared for Disappointment!

By
Real Estate Agent with Hansen Real Estate Group Inc.
Buying a Wellington Short Sale: Be Prepared for Disappointment!

Buying a Wellington Short Sale can be a very daunting and confusing process, especially if you are not working with an experienced Wellington Short Sale Agent who can guide you through the process.  This is the seventh in a series of post, which will serve to educate Wellington home buyers about the often misunderstood process called a short sale:

Buying a Wellington Short Sale: Be Prepared for Disappointment!
Buying a Wellington Short Sale: Be Prepared for Disappointment!

While most Wellington short sales will be approved, there is always a possibility the seller may be denied or not agree to their leinholders short sale approval terms.  

A few years ago I was working with a great buyer who was under contract on a beautiful short sale.  After waiting patiently for five months we were informed the seller would not agree to their lienholders short sale approval terms and their lienholder was not budging on their terms, so the deal fell apart.  Knowing anything can happen when it comes to short sales I educated my clients about all the possible outcomes I could think of, the good, the bad and the ugly.  While my client was disappointed they were grateful that I prepared in advance.

If you are interested in purchasing a Wellington short sale and need an experienced short sale agent contact me today!


Part 1: What is a Short Sale?
Part 2: Short Sale Negotiations
Part 3: Short Sales are NOT Short!
Part 4: Expect to Pay Market Value!
Part 5: Get your Checkbook Out!
Part 6: Have your Lender on Standby


Originally posted at
http://wellingtonhometeam.com/buying-a-wellington-short-sale-be-prepared-for-disappointment/

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Topic:
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Groups:
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Palm Beach County Homes for sale- South Florida Real Estate for Sale
Wellington Homes for sale- South Florida Real Estate for Sale
Palm Beach County Pros
Tags:
buying a wellington short sale
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Rainmaker
192,082
Atlanta's Home Inspector, David Lelak IHI Home Inspections
IHI Home Inspections 404-788-2581 - Canton, GA
Experience the IHI Difference

We think it is great that you educate your clients. We have seen a few instances, where clients really are not informed about different steps in the entire real estate process, leaving them upset and confused.

July 05, 2012 08:30 AM #1
Rainmaker
683,006
Gene Mundt
www.genemundt.com - Joliet, IL
Mortgage Lender - Chicago/Chicagoland Mortgages

Michelle:  Your clients are lucky to be working with you at their side.  As I see it, much of our service in any arm of real estate, has to do with the non-tangibles, and that includes emotional support.  Preparing your clients emotionally ahead of time for the possible disappointment they eventually faced was so very important.  You were, and are, their safety net.  Good agents, successful agents ... they understand this and act as you did ...

Kudos to you!  Best wishes for a great ending result for these clients ...

Gene

July 05, 2012 08:54 AM #2
Ambassador
1,475,993
Renée Burrows
Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate - Las Vegas, NV
Las Vegas Real Estate Broker - www.urLVhome.com

Waiting is definitely the hardest part.  Unfortunately the sellers may not approve of the terms and the buyers have to start all over again!  BOO!

July 05, 2012 01:54 PM #3
Rainmaker
721,960
Larry Brewer
Benchmark Realty LLc - Nashville, TN
Nashville Real Estate

I love it, and that' what buyers need to understand about the short sale market in Wellington Fl, or anywhere, you always have multiple offers, and in most cases buyers underbid and just waste a lot of time.

July 06, 2012 07:38 AM #4
Rainmaker
365,746
Shannon Milligan, Richmond VA Real Estate Agent
RVA Home Team with Jefferson Properties - Richmond, VA
RVA Home Team - Winning with Integrity.

They should be re-named LONG Sales! I am sure the Wellington Community is glad to have a Wellington Short Sale Specialist in you!

July 06, 2012 12:10 PM #5
Rainmaker
1,237,658
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Education is key, especially with short sales.  Thanks for stopping by!

July 18, 2012 10:34 AM #6
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Rainmaker
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Michelle Gibson

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