Don't Let An Untrained Realtor Handle Your Knoxville Short Sale….
I just had a meeting with a homeowner who had been trying to sell his home on a Knoxville short sale for last 5 months. They had listed their home with a friend who was in the real estate business. My fellow Realtor was a good agent but inexperienced a doing short sales here in Knoxville.
They put the home on the market and obtained an offer from a qualified buyer but that was the only thing that he had done right. Once they had that is where the nightmare began for this homeowner. His agent had never done a short sale but thought it would be “a breeze”. Their agent contacted the lenders to find out what information they needed to get together in order to submit the offer to the lender. The agent dropped the ball and was slow at getting the information to the lender. Instead of putting together a detailed short sale packet and sending it in all at once. The agent got some of the information together and send it in piece meal a little at a time.
Next thing you know 5 months have gone by the lender still doesn’t have a complete packet, the buyer has walked away and foreclosure proceeding have started on the home.
We were called in to try to save this homeowner from foreclosure and get another short sale going on the home. We only had 2 weeks till the sale so we got on it right away to get the sale stopped for our sellers.
The lender was Wells Fargo on the first and SunTrust on their second mortgage. Wells had started the foreclosure proceedings so that is who we had to deal with to stop the foreclosure. Once we got in touch with Wells we found out Fannie Mae was the investor who owned the mortgage. So in order to stop the sale we had to get their permission to do it. We talked with Wells and explained in great detail
what had happened and were confident we could obtain another offer on the home and make this a win-win for everyone. The problem was Fannie Mae you never know what they are going to do when it comes to stopping a sale. We have had success with them and times when they said no way. Well unfortunately in this situation they said no to us and our seller lost their home to foreclosure.
This is a perfect example why if you are in trouble don’t trust an unskilled professional when it comes to a Knoxville short sale. Short sales are a step by step process and if you miss something you can end up in trouble.
My team is the absolute best at it in the Knoxville Area. We can get the job done for you and avoid what happen to this seller. Our services cost you nothing. We can review all your options with you and you can decide what solution is best for you. Call me at 865-696-9002 or email me at [email protected] let’s talk
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