Another Settled Philadelphia Short Sale - thank you Google and Active Rain !
A few months ago, an out of state seller googled "top producing RE/MAX agent in Philadelphia" and found us - The Somers Team ! He had a property in Overbrook that he needed to do a short sale on. We got the ball rolling with the client with his hardship letter and obtaining the necessary information from him and determined that he was a great short sale candidate.
The property was not an easy sale even with it priced aggressively. A tenant was on her way out at the property and it was a mess. The seller did not want to pay for a clean-out as he was jammed up. There was trash everywhere and an abandoned, broken down-car in the garage. All in all, we had over 70 showings at the property !
In any event, I used the opportunity to have someone on my team handle the short sale as it would be 
a great learning experience for her. The client was fine with this as he was just thrilled that so many people were helping him. Long story short, another agent from our office brought the buyer, the deal was accepted and submitted to the bank. And then the waiting... and the waiting... At the last moment, we demanded from the bank an answer and received the short sale approval. The buyer's agent went above and beyond by helping clean out the mess at the property as well as arranging for the removal of the old junked-up car. Now that is what I call client service ! He will have a client for life.
The good news for us is that our record of Philadelphia short sale listings going to settlement remains at 100 percent ! Every deal has settled ! Now that is what I call a high closing ratio ! So for all the folks that are nervous or hate short sales, not for nothing, these deals do close !
Also, this is another example of the power of Google and blogging on Active Rain ! After all that is how the seller found us! And on an even more positive note, all the Agents involved in this deal helped save one seller from a foreclosure, helped another buyer receive a great deal and helped the City of Philadelphia by avoiding having a boarded-up property in the Overbrook neighborhood !
We often hear the negativity in regards to short sales but there are also many positives that are happening daily. For this blog post, please comment or share your experiences in terms of what is working or what has worked with the short sales that you have been involved with.
For related Philadelphia Short Sales blog posts see below:
Short Sale Challenges and Success in Somerton
Short Sale Success in Philadelphia - Third Time was a Charm !
Philadelphia Short Sale Success in Fishtown !
Short Sale Specialists in Philadelphia - what is a short sale ?
Short Sale Specialists in Philadelphia - Plan and Prepare for Success
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If interested in buying or selling properties in Philadelphia, contact Chris and Stephanie Somers at thesomersteam@yahoo.com or 215-400-2612 . You can connect with us on Facebook and Twitter . For investment properties, check out our new investor site at Philly Investor Hub !
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Active Rain, Google and Your Experience are obviously a winning combination. Congratulations!
Great testimonials. People need to hear information like this, and sometimes if we don't promote ourselves, no one will know what we are capable of. Great work - I feel it is only right that everyone know the acceptable job you do!
So cool guys!
The power of the combined is awesome, isn't it?
Thanks for sharing your experience with the "short sale" now maybe some Agents will have a better understanding and think that they too can take some training and be able to help all of these sellers!
Cindy - Thanks ! It is great to have that "winning combination" for success !
Steve - Very true. I guess to a certain point we can also highlight the deals that did not go well too. Or provide ways to learn from those experiences. I just think with all the negativity I see and read about short sales, it is important to know about the positives as well. The deals are hard work but they are still worth it. Especially worth it as I see great value in helping your city avoid that one more foreclosure or one more board-up.
These short sales are certainly a challenge.
Good job in dealing with them!
your friend in Charlottesville Virginia!
Shelia - The power of the combined efforts of people working together is awesome, indeed. Yes, I think with training or even experience in dealing with these short sales, more agents would have a better perception about the process.
Charles- You are right ! They certainly are not for everyone, but at the same time, are important to know as they bring about potential opportunities to the agents that specialize in them and help the communities avoid foreclosures in their respective neighborhoods.
I have one now but I am dealing with a mitigation company.middle man...bank accepted the short sale and now ....that they changed their minds....not fun...Happy yours closed it takes a lot of patience and persistence..Thanks for info
HannahWilliams your friend inPhiladelphia
Great stuff guys! The Google Goons have smiled upon us mere mortals yet again. Never underestimate the power of Google juice. Or the Somers'!
Your team did a great job! That includes Google and AR as well as your agents!
Congrats Chris! So far I have been pretty lucky as well and have a 100% success rate.
Hannah - Hang in there. They ususally make it through if all the parties can be patient. Is frustrating though the bumps along the road.
Tim - LOL, thanks ! The Google juice is addicting indeed.
Michael - This one certainly ended up being a team effort which was great.
Bill - Thanks ! And congrats to you as well with your perfect record. Hopefully by writing this we will not trip it up : )