I have been doing short sales now in Massachusetts for several years. Invariably, I have investors that put in very offers insisting that they negotiate the short sales themselves. If they do offer a number we can live with, they will only go under contract if they can negotiate the short sale themselves.
I also know that many investors will hit up underwater homeowners prior to going on the market. They send out a form letters on yellow lined paper that look like they are handwritten…. saying something to the effect that we really love your home and would like to buy it…… What you need to remember they are sending the same letter to everyone else who is late on their mortgage in your area.
The problem with the investor who negotiates their own short sales is they do not have you, the homeowners, best interest at heart. For them its a numbers game, throw enough out there and something will stick. But what if your home sale doesn’t stick? The investor is under no obligation to purchase your home and they just leave the seller holding the bag.
I have had discussions with my primary law firm that negotiates my short sales and they agree that the investor is looking out for the investors best interest and not the homeowners best interest. As a seller you should have someone negotiating your short sale with your best interest in mind. An attorney or a real estate agent owes you fiduciary responsibility when representing you in a short sale transaction.
If you are a Massachusetts homeowner that has missed mortgage payments, or facing foreclosure or a home buyer interested in buying a foreclosure or short sale call Kevin at 978-360-0422. I will explain your possible options to foreclosure. Every situation is different and you have about five options to consider. If a short sale is your best option my short sale team will work to complete a successful short sale on your home. Combined we have successfully closed 100’s of Massachusetts Short Sales. My closing ratio is almost 10
Other Short Sale Information:
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Short Sale Realtor Services in northeast Massachusetts, the Merrimack Valley and surrounding area including the towns of Andover, Billerica, Boxford, Chelmsford, Dracut, Georgetown, Groveland, Haverhill, Lawrence, Lowell, Merrimac, North Andover, Newbury, Newburyport, North Reading, Rowley, Tewksbury, Tyngsboro, Westford, Wilmington, West Newbury.