Unfortunately we are at a moment in time where seller’s motivations are not typical.  Most sellers in this market are being forced into short sales and there is a mentality that since they are losing on the deal they just don’t care.  If you just don’t care then why go through the trouble of listing and showing your property

You do care and have a huge stake in the outcome so make a little effort and make your deal work.

Most likely if you find yourself in a short sale situation you are not alone.  There are others on your very street facing the same reality.  In an asset manager’s mind your homes are identical even if they are not.  You likely will not get extra value as a result of working to make your home more saleable but you will get a contract and be on your way to resolving a negative situation.  Most people in this marketplace begin destroying their property and quite frankly living like pigs.  These people are not only going to lose their investment in their home, they are donating their self esteem as well.

What does that do to help the situation?

The same dynamics that used to work still work even if the outcomes are different.  If you have a desirable property worth waiting for you will not only find buyers, you will find buyers who are willing to hold on and see the deal through.  Obviously you are not going to do any renovation but simple things like cleaning and de-cluttering kitchens, closets, and bathrooms goes a long way.  Trimming bushes and planting inexpensive annuals will also improve curb appeal and invite buyers. They need an incentive to enter into the roller coaster ride of a short sale so give them one, a great house.  I challenge you to look at your situation not from a victim’s perspective but rather from a buyer’s perspective and you will find that your victim days will be numbered and you will be moving on to better times.

1.) Your lender

3.) Your representative handling the transaction.

Lenders are all over in their approach to short sales and can change strategy at any time.  Currently the general environment is that banks and lending institutions see short sales as a better alternative than holding properties through till foreclosure.  Of course they are going to force the homeowner to prove that they cannot honor the commitment they have made.  If you have the means to continue to pay banks likely will not forgive the debt just because home values have dropped.  They are not in the real estate business; they are in the loan business.  Taking back property is a last resort for them.  Currently lenders are ramping up efforts to deal with short sales.  They are finding that it saves money to deal with homeowners that are still living in the homes and caring for them.  Each lender has criterion for their own evaluation and operating structures which govern their actions and response times.

Finally, there is the representative that is handling the negotiation.  I encourage anyone interested in listing or purchasing short sale property to carefully scrutinize your representative.  All are not created equal.  At the Dohack Group we work hand in hand with an attorney negotiator who does nothing but work on short sales.  They deal with all of the lenders and know what is necessary to submit a complete package to their specifications the first time.  This assures that the timeline will be cut to the very minimum.  Additionally, we are finding that many financial institutions are increasingly willing to review the offer early in the process so that buyers know their potential for success in the end.  This is not widespread yet but is an early trend and long overdue.

When you own a Fort Myers FL home and find that a short sale is your only option, procrastination is the WORST possible idea.  The more proactive you can be in working on an alternative to foreclosure, the better. It is worth the effort and in the end it could be the best overall solution to a mortgage that you can no longer afford due to uncontrollable circumstances.  If you find yourself having these considerations I encourage you to act quickly.  The worst response is no response. The earlier you begin the better your chances of a successful conclusion.  We at the Dohack group are here to help you answer your questions and offer whatever help is in your best interest.

Unemployment in 2005 hovered around 3% and everyone was making money.  In 2009 Lee County posts 13% unemployment and many have been on the rosters for so long that they no longer are considered in the calculations.  Today we hear daily about government employees, long considered guaranteed jobs, losing their positions.  Construction jobs have all but dried up.  The result of all this hardship for many homeowners is the inability to keep up with mortgage payments.  Even homeowners with traditional equities of 20% and more find themselves upside down when property values plunge by 50%.  In the end the only way out is a Short Sale.

The key ingredient to any short sale is a purchaser.  Agents find purchasers then submit their contract along with required paperwork to a bank that is overwhelmed only to have it turned down and thus the process begins anew.  We solve that problem by stepping in and purchasing the property directly.  We are able to negotiate with the guarantee to the bank and to the homeowner that if an agreement is reached the deal will transact.  We then find buyers who are able to fix their purchase price and close with certainty in a reasonable time frame.

Clearly this is not a pleasant situation for anyone.  Having to give up a home is emotionally taxing and nobody does it without turmoil.  We are committed to taking as much stress out of the process as we possibly can by doing all negotiating and then closing the deals allowing our homeowners to turn the page and begin anew.