Working Short Sales is not always an easy job but it is one of the most rewarding facets of my 20+ year career. I feel blessed to have recently received the following letter of recommendation from a recent client. I wish them all the happiness for the future!
I wanted to take a minute to write a recommendation for anyone considering working with Colleen Fischesser. It is imperative to work with a real estate agent who can respond at a moment’s notice, assist in overcoming any obstacles during the home buying/selling process and fight for you every step of the way. Colleen is that person and she went above and beyond for us to make a stressful situation a fantastic experience.
We needed to do a short sale with our home due to job relocation and the current state of the economy. We purchased our home at the peak of the housing market and were having to sell at about the lowest point. Colleen came highly recommended to us so we gave her a call. She came right over and explained the whole process to us and we signed with her on the spot. I have worked with Realtors before but none that had the knowledge, personality and persistence that Colleen has. She was extremely well prepared and versed on the short-sale process and explained everything in a way that was easy for us to understand. She was very pro-active and always available to answer the million questions we had along the way. Colleen worked diligently to ensure the process moved forward and with ease. All in all, a process that was described as a nightmare by many went very smoothly thanks solely to Colleen. She stayed on top of everything, contacted our lenders almost daily, responded to our calls and e-mails within minutes and kept a positive and realistic attitude the entire time. She even agreed to take a TINY commission and talked the buyer’s agent into taking the same when our lenders balked at the standard rate. She wanted to help us sell our home more than she cared about what she made in the process.
Even in this tough housing market, we were able to sell our home within 3 months and have since relocated. Colleen’s dedication along with her skill, knowledge and experience were invaluable throughout the process. Even now that we’re moved she keeps in touch making sure everything is going well for us. Colleen is someone who will look out for your best interests and will help you make the best deal on your sale or purchase. It was an absolute honor and pleasure to work with Colleen Fischesser and I would highly recommend her company to anyone who is thinking of buying or selling a home.
Trent and Jennifer Shoun
If you want to do a short sale in the Sacramento area, Elizabeth Weintraub is the pro to call! Not only has she written a book on the subject, but every week she helps more and more homeowners avoid foreclosure through the short sale process. In addition to being a high producing Realtor, Elizabeth is a very prolific blogger.
Recently she wrote a blog post entitled “The Number one Short Sale Question“. (For her, the number one question she’s asked is if a home seller should stop making payments.
When talking with sellers in Maple Valley and throughout South King County about helping them Short Sale their house, the number one question I seem to get is “How long is this going to take”?
Sellers who are serious about short selling, are looking to the future….anxious for the time to move on and start over with a clean slate. For many owners, getting the short sale process completed is akin to removing a huge monkey from their backs. I’ve had several owners thank me profusely for helping them through the process.
My answer to their question is almost always the same….”It depends”. There are so many variables with a short sale transaction that there’s one answer which applies to each property. Here are some of the things which affect timing of the short sale process:
- How many liens are against the property (In most cases there is a first and a second mortgage which must be negotiated, but sometimes there are other liens-such as utilities, or judgments which must be worked out as well before title can transfer to a new buyer.
- Who are the lenders on the mortgage(s)? Many lenders have added staff and are getting much better at streamlining these packages. But others are still completely in the dark. WHO your Lender and Investor (not necessarily the same two entities) can make the process move quickly or at a snail’s pace.
- How cooperative will you be in providing me with requested paperwork? Many sellers who begin the process, are tired a few months down the road. When I get close being issued an approval letter, the Negotiator will often request updated financials. Or if I’m hammering a Lender to waive deficiency rights, sometimes I’ll request my client to write a new, updated hardship letter. The longer it takes to receive this information, the longer the process takes.
- How Committed is the Buyer? It’s not unusual for short sales to close with the second, or even third buyer in the transaction. This can interrupt the process, depending on stage of negotiations and lender involved.
- What’s the Experience Level of the Listing Agent? There are so many inexperienced agents in the market right now, attempting short sales when they have never successfully negotiated one in their entire career. On the other hand, there are some slick-willy “mega agents” who approach Short Sales with the Spaghetti Strategy (list as many as we can, throw them in a bunch against “the wall” and see how many stick). These agents are the ones to avoid at all costs if you’re looking to buy a short sale….the process will be beyond frustrating!
I’ve gotten short sales approved in 3 weeks and others in 4 months. Sometimes getting the approval isn’t the longest part of the process..it’s just the major piece in the short sale puzzle.