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As home values decline and equity disappears, and the homeowner owes more than can be realized from the sale of his property, and does not have the funds to make up the shortfall at closing, that property becomes a "distressed property" resulting in a further loss in value vs. a similar non distressed property. A "short sale" may be the homeowner's only solution other than "foreclosure".
However, the "short sale" success rate has not been high for real estate agents or any of the participants in past short sale transactions ! When a real estate agent goes to a listing appointment and finds a homeowner needing to sell, but has no equity and no money, most agents look for the door. Those agents who do try to help the homeowner and take the short sale listing, find that not only is locating a buyer difficult, but keeping them from withdrawing their offer is even a more formidable task. Eventually, most buyers give up in frustration due to the lender delays and lack of response, and withdraw their offer to move on to other buying opportunities. The agent has wasted his time and money, and about 75% of the time, the homeowner winds up in foreclosure. The lender, being understaffed and lacking good process to handle short sales, loses thousands of dollars more through the eventual foreclosure and REO sale. It’s no small wonder why many agents avoid short sales.
Real Estate Agents! ~ You find the Homeowner ~ we'll do the work !
We are an investment company who will buy a "distressed property" listed by you, add value by eliminating the distressing factors, bringing it back to a "non-distressed" traditional market value, and then re-sell through you to a third party subsequent buyer at a discount to the market.
In April 2010, there were 1190 homeowners who lost their homes to Foreclosure in the Lee County courts. Obviously, this presents a huge opportunity and an urgent need for real estate professionals who could have helped at least some of these homeowners with a short sale alternative, but didn't ! While many agents choose to avoid short sales, others have gotten involved in short sale transactions only to find that the commission, if any, was not worth the excessive time and effort required to achieve the occasional closing, and often left the homeowner in worse shape with ongoing liabilities in the way of promissory notes and potential deficiency judgements. .... That’s where we come in ! ....
We address a specific niche in the short sale market ... insolvent * homeowners of single family homes. We make those short sales easy for the agent, with a high percent of successful closings and lucrative compensation. Very simply, the agent finds the short sale opportunity, we do the work !
* insolvent ~ personal assets less than personal liabilities
You don't need to wait 30 to 60 days to get a buyer's offer, we make an immediate purchase offer in conjunction with your new listing or existing listing, and then mimimize your time involved by managing 100% of the balance of the transaction for you, including all lender negotiations.
