I Want A Short Sale But I Don’t Want A Sign On My Property
Many homeowners considering a short sale do not want a sign on their property. Often they do not want their neighbors and friends to know they are selling or to discover that their home is a short sale. Is there a hard and fast rule that you have to put up a sign when listing a property as a short sale? No, there is no rule. However, the bank that you are asking for a short sale does want to know that the property is being properly marketed, so if you are not going to put a sign on the property you should disclose that up front in the listing agreement so that they will be aware. And for some short sale lenders, I have to present a marketing log in which I detail all the marketing efforts I’ve undertaken to sell the home; some would expect to see the installation of the sign as one of the first actions taken.
That said, you should realize that at some point your neighbors will realize that you are selling your house, and they will probably discover that it is a short sale. You know those real estate agents who have all that writing on their cars? Well one will probably be the first person to come over to show your home to their clients — that always happens when people are trying to be discrete. Or your neighbors will realize it when they see someone climbing around on your roof for a home inspection. And, you should know that Realtors® are required to disclose that your listing is a short sale to potential buyers, so a nosy neighbor will see that information if they are looking for it. But, you never know why they are being nosy — they may be thinking of a short sale too.
It is understandable for homeowners in distress to want to be discrete about selling their house. However, it is important to remember that in order for your house to be sold it has to be properly marketed. The internet can do a great job of marketing your home, but you would be surprised how effective a good old sign is too. Although I have not yet sold a listing using an open house, I have sold listings from sign calls. Many times interested buyers just begin driving through neighborhoods looking for signs. Further, neighbors can also help sell your house, and a sign alerts them. They may want a friend or relative to move into their neighborhood. I have listed homes in areas where the neighbors were so in love with their neighborhood that they brought almost every interested buyer for the home.
If you are considering a short sale of your Santa Maria CA, Orcutt CA, or Nipomo CA home, you should seek out an experienced short sale agent to guide you through this process. There are many pitfalls that can be avoided with the right upfront advice. If you would like a short sale consultation, please call my office to schedule a meeting or a telephone consultation at (805) 938-9950.
Tni LeBlanc is an independent Real Estate Broker, Attorney, Short Sale Agent and Certified Distressed Property Expert (CDPE) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.
*Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal advice. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Not affiliated with the government. A lender may refuse to change a loan.
Copyright © 2011 Tni LeBlanc * I Want A Short Sale But I Don’t Want A Sign On My Property*
