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Ginny Gorman's Blog

By Ginny Lacey Gorman | Agent in North Kingstown, RI

Short Sale is a Must - Time of the Essence

Short Sale is a Must - Time of the Essence.  These are the words that came out of my mouth the other day withRI real estate short sale signpotential RI short sale clients.  They reached out to me after finding my  short sale posts.  Can you help us make this Rhode Island real estate decision, they asked?

It must be your decision to short sale your home.  I can advise, layout the framework for the process, provide the advantages and disadvantages of the short sale process and have you decide...do you want a short sale or foreclosure?  You owe more on your mortgage and home equity than your home is worth ( knowing that it is a nice home, i can estimate sale price range).  For me, the obvious choice is a short sale now. 
The homeowners are confused, disheartened since the banks would not work with them or modify their loan, ask if they can just catch up the mortgage payments and then the REALITY discussion happens.  You have fallen 3 months behind on your mortgage and equity loan and can not bring it current from the assets you have.  You have received your Notice of Default (NOD) from the bank.  I need to stop the foreclosure process for you NOW, do you understand this I ask?  Time is of the essence right now.
Short sale real estate signBoth of the homeowners are still having trouble processing their financial situation.  Things happened that were beyond their control.  I need to view the home I say, come up with a marketable price to get an offer, then into a purchase and sales agreement and get the short sale process going NOW.  The short sale is a must I tell them!  Where would the money coming from to bring you current?  Not sure, they say.
One of the sellers ask if they can think about doing the short sale for 3 weeks?  You do not have 3 weeks now.  The bank is moving forward on foreclosure steps.  You really need to move forward and put the house up for sale.  So I gave them the number of the short sale attorney I work with to call.  They know him well.
Their financial advisor just told them it would be best if they sold their home now. They are not getting the time of the essence situation here.  They are still not processing what has happened to their financial lives.  But they need to process it all quickly.  I know my team can help them.  
 If you are facing a similar financial RI home situation or have a family member or friend who is, have them call me at 401.529.7849 today.  We need to talk about short sales because time may be of the essence for them too in the land of RI short sales.  Short Sale is a Must - Time of the Essence.
Ginny Lacey Gorman is a North Kingstown Realtor who works and knows the North Kingstown RI geographic area of homes for sale, schools, happenings, important tidbits of information and  businesses well.  Waterfront, water view, ocean front, luxury and coastal Rhode Island real estate are her specialty.  If your considering Buying, Selling or Relocating to Rhode Island and need a real estate Professional it would be my pleasure to help you!    When you are in need of an internet savvy RI realtor® who sells homes in this real estate market, call Ginny today at 401.529.7849.

As North Kingstown short sale agents, she and her team helps clients navigate successfully the rough short sale waters throughout RI, contact Ginny if you are having trouble paying your mortgage.  When you are in need of an internet savvy RI realtor® who sells homes in this real estate market, call Ginny today at 401.529.7849.

This blog © and its contents is original to Ginny Lacey Gorman

Ginny L. Gorman a purveyor of Fine RI Real Estate   

Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich, Westerly RI and beyond ...  I sell dreams!  because there is no place like home...the RI Realtor in the Sparkly Red Shoes.

Looking for a terrific Rhode Island Realtor?  Let me GOOGLE one for you!


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cell: 401.529.7849   office: 401.884.4100 ext.268   Ginny Lacey Gorman, Realtor


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