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#202847 - 02/14/08 07:24 AM There are no White Knights in a Foreclosure!Seller seeks a miracle.
realestatefla1 Offline
Veteran Member

Registered: 11/10/05
Posts: 1038
Loc: Florida
It`s hard to believe,when a person who is facing Foreclosure can`t come to terms with the fact they either sell their home or loose it to the bank.

Many Homeowners can`t come to terms with Reality and look to blame the world,rather than blame themselves. I sat at a listing appointment in which the client has had two years to sell their home,only to learn they refuse to sell unless the buyer agrees to purchase this home at the sellers terms.

Now facing "Foreclosure" they`re looking for a miracle.

No matter what I told this person where to list the home, they countered with excuses. We specialize in handling Short Sales and Foreclosures throughout Miami-Dade,Broward and Palm Beach. There are no miracles in a foreclosure,nor will a White Knight suddenly appear with a suitcase filled with cash! Realtors are only as good as the clients they represent. Dealing with an unrealistic seller isn`t an option,especially in a market like we`re facing today.

I showed the seller the Comps where to list the home, left our "Listing Agreement" and asked the seller to "Sleep on it", time is of the essence I explained and the clock is ticking with the lenders.

The seller looked at me as if I was crazy. His last words to me were " I know someone will pay me for what this home is worth", I just need to find a Realtor who understands how beautiful my home is". I wished him the very best of luck!



Edited by realestatefla1 (02/14/08 07:24 AM)

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#202966 - 02/14/08 03:16 PM Re: There are no White Knights in a Foreclosure!Seller seeks a miracle. [Re: realestatefla1]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 8473
Loc: georgia
Yes unfortunately seller do not understand short sales.By the time the end is coming they suddenly change there tune but by then there is not enough time to do the short sale and the bank will not extend the foreclosure date unless they get cash from the seller or buyer so if the deal falls through they won't have to pay additional costs to restart foreclosure.

Ones with equity that are not upside down will wait until the last week as well but at least a cash investor can close in 3 days.Usually they aren't motivated until the last 1 to 2 weeks from the sale date.I usually visit a month out and leave a card,when they call for a cash offer at the ninth hour I call the shots on price or they get foreclosed on and it really is that simple.Some people's credit is trashed so they don't care and some have alcohol,mental,or drug problems.You simply move on to the next property.

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