Can you tell me why my short sale is still headed to the auction – Foreclosure Alert Updates

    What a great question coming to us from a Short Sale seller that is in Colorado, asking this on our Short Sale blog.  Carl, wanted to know why his home is still showing up on Realty Trac, as being headed to the auction, when he is in the process of having his real estate agent negotiate a short sale.

    Upon me asking further questions, it became more clear.  Carl explained that he and his agent had received an offer, which he has signed off (executed).  Carl also told me that he had completed a letter of hardship, had all of his bank statements, his two most recent tax returns, paycheck stubs and utility bills.  His package at this point is complete.

    He also said that all of those documents had been upload into to the bank’s systems by his agent.  His agent, after hearing Carl’s displeasure and “non believing” attitude, sent Carl the confirmation receipt and proof of the Short Sale documents being received by the bank.

    Carl was then on-line, exploring his address in Google, when he came across an auction listing that was being publisized by Realty Trac.  He panicked and called to unleash on his real estate agent.

    Here is the why Carl.  In a lot of the major banks, the short sale department is not communicating with the Foreclosure Department.  That is also the case with the Collection Department, not communicating with the Short Sale or foreclosure departments.  That is where the trouble begins.  Not to mention, the Loan Modification department is not communicating with any of these other department and visa versa.

    When Carl ran his home on-line, the Foreclosure Department is still pressing forward with what they have to do. They are not stopping because the home is in short sale.  Most banks will not.  It is up to the short sale expert, the seller has hired, to do that “damage control”.  Also, to keep in touch with the bank and starve off the property being auctioned during the shorts sale process.

    It sounds like your agent is doing the right thing and keeping you informed as to the process.  It also seems to me they do know what they are doing.  Keep asking good questions and ask your agent to keep you informed as to where the bank is in the short sale process.

    Here is the most recent activity for the Santa Clarita Foreclosure World:

    Your New Foreclosures alert, Paris911’s Santa Clarita Bank Owned Real Estate Alert, found a match.

     

    Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

    Bank Owned 516969880 17931 RIVER CIR 3 SANTA CLARITA 91387 CA CND 1268 3 3.00 08/27/2012 $155,500.00 $281,894.15

    Bank Owned 500582682 25547 MAGNOLIA LN STEVENSON RANCH 91381 CA SFR 4021 4 3.00 08/27/2012 $790,469.00 $828,291.62

    Bank Owned 704475b 19846 SANDPIPER PL 81 SANTA CLARITA 91321 CA CND 970 3 2.00 08/27/2012 $148,446.00 $132,750.00

    Bank Owned 490558 24004 BRIDGEPORT LN 3 SANTA CLARITA 91355 CA CND 1307 2 3.00 08/27/2012 $250,631.00 $337,114.45

     

    Your New Foreclosures alert, All Santa Clarita Cities – NOD filings – Updated, found a match.

     

    Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

    Preforeclosure 520634926 17419 HONEY MAPLE ST CANYON COUNTRY 91387 CA SFR 3215 4 3.00 12/19/2012 $476,472.00 $726,850.00

    Preforeclosure 503458051 18129 ERIK CT 328 CANYON COUNTRY 91387 CA CND 1089 2 2.00 12/18/2012 $153,460.00 $3,396.00

    Preforeclosure 897500b 26034 POTTER PL STEVENSON RANCH 91381 CA SFR 3174 4 3.00 12/19/2012 $611,655.00 $150,000.00

     

    Your New Foreclosures alert, 91601, found a match.

     

    Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

    Auction 509532528 11562 HUSTON ST NORTH HOLLYWOOD 91601 CA MFR 2342 4 3.00 09/13/2012 $487,580.00 $444,287.00

     

    Your New Foreclosures alert, Paris911’s Auction Alert for Santa Clarita Valley, found a match.

     

    Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

    Auction 916325b 17913 WELLHAVEN ST CANYON COUNTRY 91387 CA SFR 1196 3 2.00 09/11/2012 $265,986.00 $580,905.00

    Auction 505308615 24123 DEL MONTE DR 102 VALENCIA 91355 CA CND 1000 2 2.00 09/11/2012 $170,372.00 $157,063.00

    Auction 509607797 18145 AMERICAN BEAUTY DR 108 SANTA CLARITA 91387 CA CND 844 2 2.00 09/13/2012 $107,519.00 $249,374.00

    Auction 500581567 20000 PLUM CANYON RD 1724 SANTA CLARITA 91350 CA CND 755 1 1.00 09/13/2012 $110,842.00 $235,114.00

    Auction 505277088 20922 ALAMINOS DR SANTA CLARITA 91350 CA SFR 1850 3 2.00 09/20/2012 $324,688.00 $423,771.00

     

    Trackback from your site.

    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.

    Leave a Reply

    Contact Us Now

    Any questions, comments, or feedback

    SCVnest Radio Show (listen now)