Not every seller is ready to do a short sale. You would think that by the time a seller puts her home on the market that she’s thought through the process, but sometimes not. Sellers can get cold feet or have a change of heart; it’s known as seller’s remorse and it’s not always the seller’s fault. Sometimes, it takes listing a home as a Sacramento short sale before a family member will offer to help.
The trouble with that is sometimes the help offered by family is not much more than a BandAid. The help can be temporary assistance or it can mask the present situation without offering a long-term solution. A permanent solution is to reduce your principal balance. If a financial alternative doesn’t accomplish that, it’s not really an alternative. In those types of situations, a seller is often putting the gun to her head — just not pulling the trigger until later.
An agent friend in northern California said yesterday that Wells Fargo and Chase are planning to rollout new short sale programs this fall. There are a couple of short sale rumors that they are handing over short sale leads to their REO agents. The banks’ thinking, no doubt, is all Sacramento real estate agents are the same, which is pretty insulting to some of us. Some of us are very different. For starters, I get my nails done at a nail salon versus the usual method of chewing them off with my teeth.
It seems like I have to fix a lot of things that don’t work right. It’s not necessarily that they are broken as much as it is they simply don’t work correctly. Stuff goes haywire. In fact, I am so used to things that don’t work right that I have become somewhat complacent. I don’t get upset over it. I just fix it.
Almost nary a day goes by when I don’t run into some short sale negotiator telling me the bank won’t authorize seller credits on the HUD. Since when did a bank negotiator become a HUD expert anyway? I realize they don’t know how to read a HUD. If they had to prepare a HUD from scratch, they’d be up a creek without a paddle. Yet, here they are telling me to remove fees that are not credits under the assumption they are correct. They’re not correct. This problem has become so commonplace that I keep a stock answer prepared and ready to email. They don’t work right.
Elizabeth, how do you do it? That’s what a seller asked me yesterday. She was very ecstatic that her short sale closed but it wasn’t an easy road. She thanked me for making the process less painful than it could have been. For many Sacramento short sale sellers, I am their rock. I’m not just a Sacramento short sale agent. I am the individual these people rely on to help them through the emotional upheaval. Don’t let anybody kid you, surviving a short sale can be like crawling naked through shattered glass.
Some people are very uncomfortable being fawned over. My husband is one of those. He especially dislikes being fawned over by insincere people in roles of servitude. I first noticed his distaste for this many years ago when we checked in to stay a night at Adare Manor, a castle in Ireland, County Limerick. Guests are treated like royalty at Adare.
First, they seat you in an oversized antique chair. You’re too good to stand in line at reception. Then, a row of butlers gently wave fans in your direction and pluck grapes from the overhead vines to place into your mouth, one at a time. A hand-maiden removes your shoes to wash and massage your feet. A concierge rushes over to hand you a glass of chilled champagne. My husband squirmed. I, on the other hand, pointed out the fact my left shoulder still had a tinge of tightness and could use a bit of manipulation. OK, that’s not really what happened, but it’s the impression I was left with — that’s how lovely it was.