Listing appointment today - Owe 3 times Market Value - What do you tell them?

Hmm, tell them ya don't want their business!  We've chased these types of clients too long to come to the conclusion that clients who do not want to price their home to sell are a time suck!

•:*¨¨*:• Joe & Colleen Lane •:*¨¨*:•

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Tell them the truth.  As a professional you owe them that.  They can try to sell it short but if they can afford the payment and simply want to move to a bigger house chances are the bank is going to see that on their financial worksheet.

I have been turning down these listings.  I don't want to take on something that is over market value and waste time and money marketing something that will never sell while it's overpriced.   I suggest to the owners that they continue to live in it or try renting it out.  Good luck.

There is only one thing you can do---that's tell them truthfully about the market conditions.  Perhaps they should approach the bank about a short sale??

They owe more than it is worth. They want a bigger home. They can afford the mortgage payments. They are not entitled to a short sale. Just because they are upside down doesn't mean the bank should take a loss. If they owe 3X what they paid for the house, what did they do with all the money they pulled out of the equity of the house?

Tell them the truth. And don't take the llisting. There is no point to having a listing that cannot sell.

Richard, all you can do is tell them the truth. Unless they bring money to the settlement table, they are not going to make it happen.