sacramento short sale agent
Although it is rare nowadays to list a short sale because there are so few in Sacramento anymore, it doesn’t mean I change how we handle a Natomas short sale offer. The same rules apply, same principles and same practice. I know there are other listing agents who might grab the first Natomas short sale offer that comes along, but that’s not how I advise my sellers.
Having sold more short sales than any other agent in a 7-county area over the past 10 years, my experience as a top Sacramento short sale agent speaks volumes. We don’t want to drag the process out any longer than necessary. If the buyer refuses to conform to the practices we put into place, they are not a viable buyer for us. It blows my mind that buyer’s agents fight us, but they often do. They don’t think ahead, they don’t stop to consider the harm they cause, to the seller and the listing agent and everybody else in the transaction, when their buyer is not fully committed to the process.
It’s been a long time since I’ve had a bank try to discount our real estate commissions, but a Guild Mortgage short sale shows the bank is not in tune with Sacramento short sales. All of the federally insured mortgages, including the HAFA short sale program, pay 6% commission but not a Guild Mortgage short sale. By the time I’m through paying my assistant for handling all of the paperwork, the net result is pretty minimal.
The MLS instructions allow the buyer’s agent to share in that forced reduction. Sometimes, depending on the transaction, including how much work I have to do on the buyer’s side, I let the buyer’s agent share in that reduction, but I have not done that for a long time. Generally, I am generous. I often will absorb the full hit myself rather than pass it along to the other agent. Especially if that agent has cooperated fully with the terms.
The reason I am writing this blog is so I can email it to buyer’s agents who call me with the question: What’s going on with that Carmichael short sale? Because it’s too convoluted and crazy to talk about otherwise. Yup, I also wanna see what happened in black-and-white myself because I can’t quite believe it myself. The good news is this home is now available to buy as a short sale in Carmichael, soon as as we get the cancellation from the buyers.
Our first set of buyers for this Carmichael short sale were just “practice” buyers. Not really willing to wait out the short sale process for an FHA short sale, which is like the horror of all horrible short sales, even though they promised. Next. My team and I fought and escalated and argued and got the trustee’s sale postponed. New buyers entered the picture, investors, represented by their agent mom. Submitted offer, which clearly stated mom represented the buyers. Many lenders allow that relationship.
Because agents rarely write a Sacramento short sale offer nowadays, especially if there is a similar home that can close escrow sooner, it is not unusual for an agent to overlook how a seller and her listing agent may view the terms submitted. In fact, now that I think about it, many agents, it seems, tend to ignore the other side of the transaction. They don’t always think ahead or consider how the offer might be received, you know, they seem incapable of predicting how the seller may react. They just know what they hope to accomplish when they barrel forward, guns blazing, and then wonder why their offers are continually rejected. Must be somebody else’s problem, not theirs.
Home buyers absolutely should hire an experienced Sacramento short sale agent to buy a short sale, there is no doubt about this fact in my mind. I don’t say this simply because I have listed (and therefore sold) more short sales over 7 counties than any other agent, which makes me the top Sacramento short sale agent in this area. By a wide margin. I say this because agents who don’t deal much with short sale banks and are not on top of the new laws, are placing their buyers in a disadvantaged position.