sacramento short sale agent
Whose problem is it when a Chase FHA short sale takes more than a year to close escrow? I get so many calls from home buyers wondering why is that Carmichael short sale still for sale month after month, and I feel like telling them to go look in the mirror. Yet, this home I only sold 3 times, so that’s about right, on average it works out to about 4 months for each buyer. I am one of the few agents in Sacramento who will handle a short sale, which is why I have sold more short sales than anybody over the past 10 years.
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.
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.
The short sale buyers who purchased my seller’s home in Antelope really lucked out on a terrific deal in several ways. As the top Sacramento short sale agent, of course I represented the sellers. The buyers were represented by someone else. We went on the market at the end of March, yet it took us 3 weeks to get an offer for this short sale. Even in a limited inventory market, there were still other homes in Antelope to buy that could close right away, so many buyers passed by this gem. Few want to look at short sales when there is an abundance of regular homes for sale.
We just closed a short sale with a tax lien in Elk Grove. Tax liens are not a new thing; often when people fall into financial troubles, they end up owing the Franchise Tax Board (California state taxes) along with the usual suspect, the I.R.S. If things are so rough that you can’t make your mortgage payment, you probably can’t pay the I.R.S either. When you don’t pay the government, federal or state, the government files a tax lien against you, which is recorded in the public records of the county where you own property.