Successful Lakeland Fl Short Sale Closing - Not In The Eyes Of The Seller

Successful Lakeland Fl Short Sale Closing - Not In The Eyes Of The Seller

Although short sales is the way to go to avoid foreclosures, it still sucks for homeowners who try everything to hold on. There are folks who are not emotionally attached and there are folks who put a blood and sweat into their homes and although we as short sale agents try to make it as painless as possible, it is not always as pain free - we are still human after all even though we are in business.

My latest short sale closing was as successful as it can be, however not in the eyes of the seller. I sold a Lakeland Fl short sale with SunTrust recently. The lender even waived deficiency on both loans. This sale was not successful in the eyes of the homeowner and I can't blame them. They tried everything possible to keep the home, they applied for loan modification in the hopes to keep the home, as with so many other Lakeland homeowners trying to hold on, provided tons of paperwork over and over again, made payments after it was approved, only to be turned down a few month later. They even gone through court mediation. The outcome was that their only option would be to find a Lakeland short sale agent and get this home sold within 120 days or it will be foreclosed.

When the homeowners called me and sent me the necessary documents for short sale, we immediately put the home on the market at a price that would satisfy the investor's net. I was lucky because doing a comparable market analysis I realized that the list price would most likely generate many showings. Being in direct contact with the lender's negotiator helped since the homeowners gone through mediation, they had priority in getting a short sale approval letter once we got a fully executed contract.

Shortly after we put their Lakeland FL home on the market as a short sale, showing requests filled my email inbox and phone started to ring. We had multiple offers within a week. Once I requested to the buyers agent to submit their highest and best use, the homeowners took the best offer. Buyer did all inspections right away and was satisfied with the outcome. The sellers received short sale approval letters within days and we closed in 42 days and my sellers received $3,000 for relocation assistance at closing.

I would have much rather not sold the home as a Lakeland FL Short Sale. I'm sure the seller would have given back the $3,000 relocation assistance if they were given a choice to keep the home. Nothing is sadder for homeowners getting caught in this horrible down market when there is only two options, short sale or being foreclosed. Sometimes, I just wish I could knock some sense into lenders heads....