About Davenport's Lake Davenport Estates

I received an email from a nice gentleman yesterday who had just listed his home in Lake Davenport Estates Davenport for sale as a Short Sale last week. He and his wife got along well with the agent and they signed the listing agreement right then and there at the listing appointment.

Apparently a couple days later the seller sent over his financial documents (bank statements, pay stubs, tax returns, etc) for the lender. The agent called them the next morning and asked why they had sent those documents over and the seller explained that he thought his lender (Wells Fargo Short Sale Department) was going to need them. I won’t bore you with the whole story, but suffice it so say the agent didn’t know what a short sale was and isn’t sure what he is supposed to do now.

The seller emailed me to ask if I would guide them through the short sale process and help out their agent. Essentially they want me to negotiate the short sale with their lender for them. Since I am not a licensed mortgage broker it would be illegal for me to charge them for negotiating their short sale. And since short sales can take 3-6 months to close with lots of hard work in between, I’m not really willing to do it for free.

I told him I would be glad to help if he didn’t already have a listing agreement with another agent but he does. They have put themselves in a pretty bad position. The best I could do was to send the seller some helpful information and a link to ShortSaleSuperStars.

I sincerely hope it works out for them, but short sales are a tough business to jump into and I can’t understand for the life of me why they listed their Davenport Short Sale with an agent who hasn’t even heard of a short sale....Good luck folks.

Image courtesy of pacdog at Flickr