Brian Brumpton, Boise Idaho Real Estate

SOLD! - 2892 Kandice, Meridian, Idaho

Delivering results is what this business is all about. We managed to get this house under contract in 7 days! My client was able to relocate without haveing to worry about supporting two households. Hassle free and happily we handled all the details remotely and closed on time.

Hearing the relief in her voice when I called to let her know we had funded and recorded was a great feeling.

I was recently asked by an agent if they could outbid my current offer on a short sale that had been submitted to the bank.

The agent got very huffy with me when I explained that I was only going to submit one offer at a time to the lender and that it wouldn't be fair to the current buyers for me to simply let them be out bid after patiently waiting for me to get a short sale approved.

His reply was "You're not going to submit it to the lender even though the law requires you to present all offers?"

To which I informed him that Idaho State Law requires me to present all offers to my seller which I will gladly do. However, the lender is not a party to the contract so I'm not required to submit it to them.

Since there is not a whole lot of set standards for dealing with short sales, here's my stance, a buyer who wants to submit a higher offer is welcome to and should the lender counter back at a higher price and the first position buyer doesn't want to accept the terms, the second place offer will be submitted.

You're welcome to disagree but I prefer to work with integrity and give the buyer who has put in the time to get a fair shake at having their deal worked. I don't agree with the agent mentality to shop short sale offers to drive up the price. It might not be illegal but it sure feels unethical.

Contractually, depending on what addendums you have, you might not be able to just bump buyers will nilly whenever a higher offer comes in.

I want a buyer's agent to feel comfortable in submitting offers on my short sales and know that an accepted offer is going to be worked until it's approved or dead and only then will I go looking for other options. If you were the buyer in first position wouldn't you hope the same courtesy was being extended to you?

There's a lot of information surrounding foreclosure in Idaho.  Separating fact from fiction is not always so easy.  We created a site dedicated to helping Idaho homeowners understand the foreclosure and short sale process in Idaho. 

Start here with common myths about foreclosure in Idaho

For more inforamtion about short sales and foreclosures in Idaho visit www.HopeForIdaho.com.

Idaho short sales - 7 Mistakes to Avoid in Pre-Foreclosure

For Idaho homeowners at risk of losing there homes to foreclosure, a short sale can be a win-win for both owner and lender.  There are, however, some common pitfalls that can be detrimental to avoiding foreclosure in Idaho. 

Here are seven mistakes to avoid:

1. Waiting too long to do something.

2. Choosing to spend thousands of dollars to have an attorney file bankruptcy assuming it will make a foreclosure go away.

3. Choosing to sign away your Deed to your home to a third party and to give your home away

4. Choosing a lender Forbearance (payment plan) and not taking it. As long as you can—do it!

5. Choosing to "just walk away" and thinking "They can’t come after me after the foreclosure.”

6. Working with a person who is not experienced in the foreclosure process.

7. Not taking action now.

For a more in depth explanation of these please visit www.HopeForIdaho.com.  This is a free site for Idaho homeowners looking for information regarding short sales and foreclosure.

Idaho short sales - 6 Keys to successful short sales in Idaho

As a listing agent handling a fair amount of short sales in Boise, Idaho, these general guidelines tend to increase the likelihood of your short sale success:

1. Only accept realistic short sale offers.
2. Work with a qualified short sale agent to negotiate with the lender on your behalf.
3. Avoid inexperienced agents and scams.
4. Save time, hire the right person to represent you the first time.
5. Maintain the home and make it as appealing as possible to potential buyers.
6. Be proactive in doing your part of the short sale process.

While there is not guarantee a lender will accept a short sale in Idaho, you can start with these guidelines to increase your odds.

Idaho short sales are complex transactions and getting the right information is key.  For more information on short sales and foreclosure in Idaho visit www.HopeForIdaho.com.