Warning to sellers facing a foreclosure and considering a short sale for their Cape Coral home

Warning to sellers facing a foreclosure and considering a short sale for their Cape Coral home

In the past month alone I’ve been assigned several nice homes from Fannie Mae to sell in their REO division (this is after the homes have been foreclosed on).

I usually check to see if the house has been recently listed for sale and sometimes find an old short sale listing in our MLS from another agent. Sometimes the agent is clueless to the fact that the house went into foreclosure. Other times they knew but just don’t seem to care. They nearly always blame the bank for not working with them or their super offers. (aside: sometimes the bank just doesn’t want to do a short sale, we’ve all lost some to foreclosure but in the majority of the cases the banks DO want to negotiate a reasonable offer on a short sale).

What happened you ask? Well I cannot comment on the negotiation skills, diligence & persistence or experience of some of these Cape Coral agents but I can share a bit of what I have seen:

The listings HAVE:
No photos
or just 1 photo from our county appraiser’s website (grainy and usually a few years old)
sometimes an aerial shot from the county appraiser’s website

Sometimes there are a couple more photos but sometimes not. There are very often NO interior shots at all. Makes me wonder if the agent has even stepped foot inside the home.

A typical description goes something like this:
Cape Coral short sale. 3/2 home for sale in Cape Coral. This is a short sale. Bring an offer.

Yep, that is it. 1 or 2 crappy photos and a useless description of the home.

Folks! Please, take a look at how the agent is marketing your home. Even if it is a short sale it is important. Buyers want to see photos! They want to read more about the home! They wonder what is wrong with your house if they cannot see some photos of it. They wonder if it is falling apart if there is nothing nice to write about it.

Ask to see marketing pieces BEFORE you hire your Cape Coral agent. Ask to hear from past customers. Ask to see their website (hopefully you can find it through a search engine but you’d be surprised). Ask them how many short sales they’ve closed.

Then check on your listing a few days after it is listed. Did they market it how they promised? Does it look nice? Did they write something good to entice buyers? Are the photos appealing?

While I enjoy selling these foreclosures for Fannie Mae I’d really love to help you sell your home before you lose it to a foreclosure. Trust me the banks want to sell it too! During the foreclosure process the banks are spending money in court and attorney costs. They often spend money to property preservation during this time period as well. After it is foreclosed they lose money to paying water & electric bills. They lose money maintaining the yard, pool, cleaning the house. They lose money on repairs. Then once the property does sell they have typical seller closing costs including real estate commissions and past due HOA fees and/or taxes.

But keep in mind that you need a professional working for you who understands the local Cape Coral real estate market, someone who has experience working with the lenders and investors and someone who cares about helping you. The banks won’t allow your house to be sold for much less than market value so be cautious if your real estate agent suggests that they have an investor ready to buy your home. You’ll be much better off having your home listed and marketed properly for sale. Don’t waste valuable time while your home is in a state of foreclosure with the wrong agent or wrong marketing plan.

If I can be of assistance to you please let me know. There is absolutely ZERO cost to you for my services. I get paid via a commission at closing from your lender’s proceeds on the sale.

Short Sale in Cape Coral

Yours in Success,
The Florida Future Realty Team
239-542-8521
inquiry@floridafutureagents.com

Ask for our information packet to be emailed directly to you or call our broker, Susan Milner, to have your specific questions answered!

After hours, call Susan Milner on her personal cell phone at (239) 218-2229 or email directly to Mail@SusanMilner.com

~ Before you decide to sell your house as a short sale we recommend you contact BOTH a CPA/tax professional & an experienced Attorney to discuss YOUR specific situation. Laws & guidelines change frequently and you want to be sure a short sale is in YOUR best interest! ~