(914) 723-8900 jphilip@jphilip.net

We can help with short sales. There are many means by which we can help, but this particular one was unique in many respects.

First, if you are upside down and you need help, we strongly urge you to surf over to www.nyshortsaleteam.com to check out our brokerage-level short sale solutions. There are many reasons for recommending that short sale sellers go on the MLS and regular market, as short sales are virtually always subject to lender approval, which can take 4-6 months, and we don’t feel right out tying up a property that long for an uncertain outcome.

That said, the a short sale seller had their home on the market for several years with no luck. It was a complicated situation, but finally a buyer appeared on the scene, made an offer and signed a contract. It went to the lender for approval, and a few months later the mortgage bank attempted to negotiate a higher price, and the buyer withdrew from the transaction. It was surprising that a buyer would walk from a desirable home on a cul-de-sac in Pocantico Hills schools, but withdraw they did.

There was now an approved short sale at a known number, but no buyer! We stepped in, paid the amount that the mortgage lender was willing to take, and with a few required administrative bits of housekeeping done, closed on the property. The seller got a credit from their lender to help them move, and avoided foreclosure.

Everyone won, and that is how we like to do business.