TOP TEN LIST OF SHORT SALE OBSERVATIONS

By
Title Company with Richard P. Zaretsky P.A. - Board Certified Real Estate Atty and AUTOMATED LAND TITLE COMPANY

OK all you short sale Realtors - Here is my list of the top ten short sale rules when dealing with sellers and buyers.  What is your top ten list for YOUR favorite category involved in the short sale process (lender, buyer, seller, buyer Realtor, Seller Realtor, processor, loss mitigator and servicing agent, etc.)?

My TOP TEN BUYER / SELLER observations regarding Short Sales are:

10 - A Short Sale is a tough place for a buyer looking for personal housing.

  9 - A Short Sale is not for people that just want to move.

  8 - A Short Sale is an option for people legitimately in trouble - it is not an entitlement.

  7 - Borrowers need to take responsibility for their decisions.

  6 - A hardship is not a desire.

  5 - Borrowers often mistakenly think foreclosure or bankruptcy is a better route.

  4 - A Short Sale is not a Short Cut.

  3 - As a rule, Lenders accept Short Sales based on Economic Reality .... Sometimes

  2 - If you don't ask for relief you won't get relief.

  1 - Lenders forgive those not entitled to relief ... more often than you can imagine.

Copyright 2009 Richard P. Zaretsky, Esq.

 Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make.  This article is for information purposes and is not specific advice to any one reader.

Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660  RPZ99@Florida-Counsel.com - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW - We assist Brokers and Sellers with Short Sales and Modifications and Consult with Brokers and Sellers Nationwide!  Shortsales@Florida-Counsel.com  New Website www.Florida-Counsel.com

See our easy to understand articles at:

TABLE OF CONTENTS - SHORT SALE AND LOAN MODIFICATION ARTICLES

 

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Re-Bloggged 2 times:

Re-Blogged By Re-Blogged At
  1. June Piper-Brandon 10/05/2008 01:09 PM
  2. Gabe Sanders 10/10/2008 07:35 PM
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Topic:
Mortgage / Finance
Location:
Florida
Groups:
All Things Florida
Florida Realtor® Network
PALM BEACH COUNTY SHORT SALES
Short Sale REALTORS®
Tags:
foreclosure attorney
florida mortgage foreclosure
palm beach foreclosure
mortgage modification
renegotiation
foreclosure lawyer
wpb

Comments 11 New Comment

Anonymous
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Rainer
11,150
Debra Jobin
Realtor - Licensed In RI & MA
RE / MAX River's Edge

Richard,

These are great rules.  In fact I plan on presenting your list at the next office meeting.

October 05, 2008 01:50 PM
Rainer
49,855
James G. Pycha
(R), REMAX Kauai Broker
James Pycha (R) - REMAX KAUAI

Hi Rich . .   I really appreciate your post.  Very good Short-Sale Reference Items.

Aloha

JIm

October 05, 2008 02:05 PM
Rainmaker
238,291
Gene Allen
Realtor Hampton Roads Real Estate
Resh Realty Group

Thanks for the information.  I am sure it will come in handy in the future.

October 05, 2008 03:25 PM
Ambassador
1,303,404
Jon Zolsky
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

Richard,

Read your 10 rules and you would notice first that there is an attorney behind. You know what is wrong and what is right.

Then you tice a street smart and practical person behind, You know what happens in real life, even if that is not right, or how it should be.

Then you notice a poet. They have wit in them, and they are well written.

Thanks, I am a fan of yours, I liked this post. It makes you smile, but it is quintessentially true (I wanted to say "right")

October 05, 2008 05:09 PM
Rainmaker
205,358
Richard Zaretsky
Florida Real Estate Attorney
Richard P. Zaretsky P.A. - Board Certified Real Estate Atty and AUTOMATED LAND TITLE COMPANY

Joe -

If you are in no hurry = a short sale is a terriffic way to bag a great deal on a home.  Go for it but use a knowledgable Realtor.  You can find what you need here on Activerain!

November 19, 2008 11:04 PM
Anonymous
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Rainmaker
205,358

Richard Zaretsky

Florida Real Estate Attorney
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Additional Information

Legal true life experiences, general observations and commentaries for Realtors, Lawyers and Mortgage Brokers - also see our Palm Beach County Short Sales group blog.
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