Columbus Short Sales: How We Overcame The Odds To Make This Short Sale A Success

Columbus OH – Here is a success story on a short sale that the Stop Foreclosure Institute worked on for a long time. This was a very difficult short sale and it dragged out for over a year.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure. http://columbusohshortsaleadvisors.com/

The reason that this short sale drug out for such a long time is because the short sale lender thought that the house was worth more than its actual value.

Imagine that you were a bank losing hundreds of thousands of dollars on a loan. You hire an appraiser and he says the house is worth 380k. Would you accept a short sale offer for 275k? No!

We had the home on the market for six months and 275k was the highest price any buyer was willing to pay. Here is why there was such a big discrepancy between what a buyer was willing to pay and what an appraiser thought the house was worth.

The house was located in the country about 12 miles outside of town. Most people will pay more for a house that is located closer to town. Three miles to the East of this house was an upscale area of luxury homes.

Most of these homes were located in well maintained, gated communities. The person who appraised this home used those homes as comparable sales for the appraisal.

But, it gets worse. This home had no garage and was located down about a mile of dirt road and surrounded by lower priced homes. The comparable sales the appraiser used were an apples to oranges comparison.

That was why the home was not selling for what the bank thought it was worth. We submitted two different short sale packages over the course of 9 months.

Both times the bank told us they wouldn't approve the short sale because they thought the home was selling for less than it was worth.

We finally lucked out on the third short sale offer. This time the home appraised at an accurate value and the bank approved the short sale. However, the home had declined in value over the past year.

It sold for 235k. Yep, that's correct. The bank lost over 40k because they used inaccurate appraisal data to make a decision on the short sale.

The motto of this story is that most short sale problems can be solved with time and persistence. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at robin.lemmons@kingthompson.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 614-741-2495.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. http://columbusohshortsaleadvisors.com/

Thinking about a loan modification? Our Columbus loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. http://columbusohshortsaleadvisors.com/

Thanks for reading this, Rick and Robin Lemmons.

Rick and Robin is a Real Estate Team at Coldwell Banker King Thompson.

Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com

A Zest For The Best

View My homes for sale at www.rickandrobin.com.

Rick & Robin Lemmons specialize in helping Columbus Homeowners short sale and never pay the bank another penny. Columbus Loan Modification Help, Columbus Short Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.

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Important Notice

Rick and Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorsed by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Rick and Robin's personal views and do not reflect the views of Coldwell Banker King Thompson.

This information on Columbus Short Sales: How We Overcame The Odds To Make This Short Sale A Success is provided as a courtesy to our viewers to help them make informed decisions.