subject: Sarasota Foreclosures - Beware Home Warranty Scams! [print this page] Sarasota Foreclosures - Beware Home Warranty Scams!
Some real estate agents actually hurt sellers desperately needing to avoid foreclosure. If you or someone you know needs to short sell to avoid foreclosure, please pay close attention.
Facing foreclosure creates enough stress as it is without having to sort through all the BS to get the help you need.
When the housing market crashed, nearly 100% of all real estate agents in and around Sarasota, Florida, lost their "jobs."
Overnight, Sarasota real estate changed. No more throwing a house onto the MLS & selling it in minuteswith multiple offers.
No more house hunters flooding the realtor's voicemail box with requests for help buying a first homea 2nd homeor 5 investment properties apiece.
Today, homeowners need and demand realtors who know how to help them avoid foreclosure they demand realtors with proven short sale experience.
Unfortunately, realtors who raked in commissions a couple years ago are out of work today. The market turned on a dime and they do not possess the necessary skills to help people. But that's not stopping them.
Many agents feel all they need to become "proven" is to take a Certified Distressed Property Expert (CDPE) course or attend a workshop.
Case in point: recently, my friends Mike and Sandy asked me to help themyet again. Already, I had short sold two other properties for them. For their 3rd, I wasn't able to commit the time necessary to help them.
They chose a smooth-talking listing agent associated with a big-name brokerage. They expected the same results as I had gotten them Mike & Sandy failed to ask this agent the questions I had given them.
For 12 months, this "certified short sale expert" fumbled around with this listing. Mike and Sandy no longer could take it any longer. They did not want the bank to foreclose on them.
Unfortunately, this agent and his broker made it difficult for Mike & Sandy:
* Broker refused to let Mike & Sandy out of a listing agreement.
* Unbeknown to Mike & Sandy, they had signed a listing agreement holding them hostage for 14 months.
* To get out, Mike & Sandy would have to pay $1,000 to get out early.
* Further, this listing agent had overpriced the listing by $25,000...$25,000 DOLLARS!
In the meantime, the 2nd mortgagee had charged off, selling the debt to a 3rd party debt collector and the HOA had turned over delinquent HOA fees to their attorney who had "liened" the property.
When I took over, I was way behind the proverbial 8 ball. To short sell the property in the limited time remaining before auction, I had to find a buyer, prove reduced value to bank's valuation expert, negotiate settlement from debt collector on 2nd & negotiate lien release with the law firm re: unpaid HOA fees.
In just 4 months, I sold the house, removing unbearable stress from Mike & Sandy. Ironically, the former list agent had been a "top producer" during the boom years.
Unfortunately, a top-producing real estate agent during the boom years means NOTHING today. If you owe more than your house is worth, you need a Realtor with proven experience in short salesif short selling is determined to be in your best interest. Need to sell short? Call me now or visit my blog for 9 specific questions you must ask a listing agent to avoid signing a list agreement with a nice but unproven real estate agent.
