Solving the Knoxville Foreclosure Crisis
One Homeowner at a Time

Rick Smenner

RE/MAX Preferred Properties
[email protected]

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Another Successful Knoxville Short Sale

tomotley One thing I have learned about Knoxville TN short sales is no two are ever the same. We just completed a successful short sale in Maryville, TN. It was a very nice home on 26 acres very private setting and the home was in great condition. My seller bought the home a few years ago for $470,000 with 100% financing. They where transferred out of the area and had been trying to sell the home prior to calling in my team to help. It was becoming a financial hardship to maintain the home because they had been transferred. So we talked about their options and determined that selling the home using a short sale was the best option for them. We priced the home at $295,000 and were able to secure an offer pretty quickly on the home. After we had put the short sale packet together we submitted it to the lender and went to work to get the short sale accepted. Well after 4 months and some hard negotiations with the lenders we where able to get the $295,000 offer accepted and were ready to close now. This is where the fun began our buyer decided they didn't want the house after waiting 4 months to get the sale approved. My team and I learned that you never stop marketing short sales because this type of thing happens all the time. We had so much interest in the property we were able to go to another buyer who had shown interest and put another deal together for our seller. Here is what our seller had to say...... "Hi Rick, Thank you very much for representing us in the short sale of our house. Working with you helped to make a very difficult situation more tolerable. We appreciated not only how easy you were to work with and your prompt replys to our concerns, but also your professional skill and knowledge in the area of short sales. We are very grateful for your assistance in helping us complete the short sale on very favorable terms! Thank you, Tom & Nori B." What really makes our team of professionals stand out in the market place is our ability to get these short sales approved for our sellers. Perfect example is this sale was $175,000 below what my seller owed on the property and we also got them a release of liability on both the first and second mortgage. Because we have a full time negotiator as apart of our team who does nothing but negotiate our short sales we are able to get things like this done for our sellers when other can't. If you are having trouble making your mortgage payments call me 865-696-9002 or email [email protected] I can help you avoid foreclosure.

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