Search Dayton Home Values Dayton Ohio Home Search Search Dayton Featured Homes

Dayton Short Sale Expert’s Advice Not Taken…

Sad Story of Dayton Area Short Sale

Here is some quick background on the story.  I met with clients months ago and listed their home that was in the early stages of foreclosure.  So we did in fact list the home as a short sale or pre foreclosure.  After about a month on the market they called to take the home off the market saying that the bank was going to work things out and they did not want to sell.  This sounds like great news and a way to avoid foreclosure… well it can be, but all too often I see that it is in fact not a way to stop foreclosure at all.  What often happens is the bank just does not offer enough to make it work for the home owner or what they are told on the phone is not what comes in writing.

 

So, the home owners take the house off the market thinking everything will be great and they can get back on with their lives.  I warned them that often things to not work out and that I would be happy to assist with the discussions and review things with them that the bank sends over.  My best advice in avoiding or stopping another Dayton area foreclosure was that we keep the home on the market while the discuss things with the bank, that way if things did not work out we had a “plan B”.  I really don’t fault them, they were doing what they thought was best, but things did not work out and now we have lost months and are so much closer to foreclosure. 

 

We are going to re list the house as a pre foreclosure / Dayton Short Sale and try to stop the foreclosure by selling the home prior to the foreclosure sale.  That will be harder as we lost months of the pre foreclosure time.  Lucky for them we really are short sale experts and will market the home very aggressively in an attempt to sell it prior to the foreclosure sale.  Read on below on some of my thought about this all to common situation…

 

Can you stop a Dayton Area Foreclosure?  What are the problems?

  • Yes you can but often what the bank works out with you just is not enough.
  • What you are told on the phone is not what is in writing.
  • What they tell you is true but you just don’t qualify.
  • Things change from when you talk to when the work out package arrives.
  • There are plenty of short sale scams out there as well.

 

Dayton Ohio Short Sale Expert Advice…

  1. Always talk with you attorney and/or account in addition to your realtor.
  2. Your Realtor should, no MUST be a real short sale expert.
  3. Listen to your “gut” if what you are being told by different sources differs then keep asking questions.
  4. What is the level of experience in dealing with foreclosure, pre foreclosure and/or shorts sales?
  5. What current training and/or experience does the person advising you have?
  6. If it sounds too good to be true… then it just may be…

 

What could have been done to avoid the possible foreclosure?

  •  Really evaluate all the advice and information.
  • Keep the home listed as a Short Sale while talking with the bank.
  • Call me even sooner when they knew things were not going well with the bank.
  • Get the home back as a Short Sale as soon as they knew it may not work out with the bank.

You see, as a homeowner selling your house as a short sale you are still in control.  You never HAVE to sell it.  If you list it the understanding it that you will but you are still in control and have options.  I will keep you posted on how things go…

 

You have options when it comes to avoiding or stopping foreclosure!  A short sale is often the best and something you really need to discuss with an experienced short sale expert.  We specialize in the Dayton and Cincinnati Ohio areas as short sale expertsand would love to talk with anyone to offer or assistance.  If you need to stop a Cincinnati or Dayton foreclosure click the link below for a free consultation.

 

Stop Foreclosure



  1. Breton

    Hey very nice blog!! Man .. Beautiful .. Amazing .. I will bookmark your blog and take the feeds also…

Leave a Reply