Frozen In Fear

Central Florida Short Sales

In my business, there are various hats that I have to wear throughout a transaction. It’s not always smooth sailing when buying or selling a home. You may think just my client has to deal with the emotions, but the reality is, I too take an emotional roller coaster when helping some clients. The biggest and most challenging transaction for me is the short sale. A short sale is when a seller needs to sell a home but does not have any equity in the home and in fact may be very upside down.

The process involves negotiations with the lender and a lot of input from the seller. Ultimately the goal is for the lender to approve the sale of the home at today’s market value and for them to absorb the deficit without penalty to the seller. Easy right? Hardly. Believe it or not the biggest obstacle in a short sale is Fear.

I once heard that “Fear” is an acronym for: False Evidence Appearing Real. When you really dive into it, it makes sense. So many times in life we allow our emotions to blind us and become frozen in FEAR to what is really going on around us and how it affects us. Truth be told, a short sale might seem scary, but it’s just another transaction and a means to an end. While it might not be ideal, it’s not as daunting as many make it. It’s not as though you are going to be hauled off to jail because you can’t afford to keep your home and the reality is that done properly, you can repair your credit and be able to purchase another home in as little as a year or 2.

The key is to hire the right people to help you. Make sure your agent uses a professional to represent you and that they are NOT doing the negotiations themselves. Ask yourself, why would your agent take on the time consuming task of a short sale along with the liability when truth be told it takes them away from the tasks that actually help them make a living without and additional pay. Furthermore, most are not qualified to do a short sale. Their real estate license does not qualify them to do a short sale any more than me having a pair of scissors qualifies me to cut your hair.

It’s the same a choosing a specialist when you need a certain type of doctor. Done properly, a short sale can get you out of a bad situation and onto the road of financial recovery. Don’t let Fear keep you from getting your life back!

As always, I am here if you have questions!

Take care, David Dorman 321-293-2240

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