An email from a Mt Tabor Portland Short Sale Client.
This family really needed our help.
Realtor Bruce Lockwood asked me to send a quick note about how our
short sale went with them.
In a nutshell: My wife and I unknowingly bought a moldy house about two years ago. After we lived there for two weeks, my wife was so sick that we had to move out. We were first-time home buyers, and pretty much went broke buying the nicest house we could afford — so we could barely afford to rent an apartment on top of that. We spent a few months working with a lawyer, yadda yadda.. but we didn’t have many options, or legal recourse. Basically a very crappy situation. We couldn’t afford to fix the house up — it had water leakage and lots of mold in the basement, but due to technicalities (and wishy-washy disclosures from the people we bought it from) there was nothing we could do but try to get rid of it.
I forget how we found Realtor Bruce, but he came over to our apartment, got our story, had us sign some papers, and basically Bruce Lockwood turned us over to his son Richard Short Sale Specialist (they work as a team), who handled our case. It was all very hands-off (which was great for us — I was sick of signing documents and thinking about the stupid house anymore), and Richard did all the work finding clients, showing the house, etc. Of course, we weren’t living in the house at the time, so I don’t know how often he was there showing it etc… If you’re still living in the house, it’ll be a little different situation. 🙂
I think it took somewhere around 6 months to sell it, and the only time we were contacted by Bruce or Richard was to sign docs (always electronic signature, or print and scan back — never had to go in to their office or anything). A couple of sales didn’t go through (buyers backed out, for whatever reason), but finally one did… and we weren’t paying the mortgage anyway, so we didn’t really care if it took 1 month or 10.
So…… in all….. I don’t have any Realtors to compare them to, but they were very friendly and did the job! I certainly am glad it’s the only short sale I’ve ever had to do, and I don’t plan on buying a house again for a while, if ever.. but if I had to do it again, I would feel good about calling these guys.
And, with a short sale, you don’t actually pay the realtors — it all comes out of the big invisible pot of money* (at least that’s how it seemed to us).
If you have any questions, please ask me!
Good luck, and I hope your situation isn’t as crappy as ours was. 🙂
*To clarify the bank pays our commission from the proceeds of the transaction. The home owner does not pay out of pocket for our services.
Thanks again for putting in a good word for us and we wish you and your wife all the best.