I received a call from a potential client last week who found me on
. She needed to sell her home as she has now entered the foreclosure process. She had found me on internet through
and needed someone in the area that was knowledgeable with the process and how to help her. She is going to have great difficulty in selling her property as she feels that she needs to net 20,000.00 from the sale. She bought the property 18 months ago with 100% financing. She has not made a payment in the last 6 months so with penalties, interest, and legal fees the payoff is about 15,000.00 more than the loan amount.
She had bought the property directly from a national builder with no buyers agent and they talked her into almost every upgrade that they had to offer. She paid 240K for her home and the same model on the same street closed at 191K. I told her the facts as gently as I could and her one big hangup is that in my brokers contract we ask for a 6 month listing period. She did not feel that she should sign for 6 months as she had previously listed the property and it did not sell during the listing period.
The biggest complaint that she has and the drawback to her agreeing to list the home is the length of the listing period. I told her that We could adjust the listing period to 90 days because of the time year that we are in but my dilemma is how to tactfully tell her that she doesn't have 6 months and may not have the 90 days to live in the property.

