Short Sale Negotiation

The beginning of the year is always a little slower for us agents… so it gives me ample time to expand my real estate brain. My bottom is a bit sore from sitting through another four hour class today, but it was worthwhile education.

Short Sales are nothing new. Buyers are asking me about purchasing short sales, they want to know if they are good deals and how long does it really take to close on one? Yes, they are good deals, yes you have to wait, no, it’s never a sure thing you will get the house. However, the class was about helping sellers negotiate a short sale – so while it is fresh on my mind…

Whether you are facing foreclosure, or just debating a short sale, please, please talk with an attorney who specializes in distressed properties. A real estate broker can help you with determining your home value and of course selling your property, but no real estate agent can tell you if a short sale is the right choice for you. There are other options. Some people choose foreclosure, some bankruptcy, some various other remedies. The attorney giving the class today said about 35% of the people who come to him for advice are good short sale candidates.

I am not going to get in the details because WA State has a wonderful guide for homeowners to help understand short sales. Please read it!

McFerran, Burns & Stowell, P.S., the law firm that hosted the class today, has a free      Real Estate Legal Line on AM 570 KVI, every Sunday 10am to 11am.                                       Call them with questions (206) 421-5757 or 1-888-312-5757                                             They also offer $150 Attorney Foreclosure Consultations.