I was reading the Business section of the Washington Post when I came across an article about: Home price gains bring ‘underwater’ sellers off sidelines, relieving frustrated buyers.
It told of a great story or better said an inspiring tale of how one couple prevailed over their lender’s rejection of their short sale because of the raising home price.
Here is their story of how the huge price increases produced an unexpected retirement gift for Larry and Diane Plaster, who were resigned in January to selling their San Diego home for less than they owed the bank, known as a short sale. They owed $352,000 but accepted an offer for $290,000.
Their bank rejected the deal four months later, leading the couple to put the home up for sale again. On the second attempt, they took an all-cash offer of $380,000, yielding a windfall of $6,500 after broker fees and closing costs. The Plasters, who live on Social Security income, fulfilled a dream of moving to a geodesic dome they built in Janesville, 130 miles north of Lake Tahoe.
The former Catholic social service workers were so angry when Chase rejected the short sale that they closed their account after more than 40 years.
“Now I guess I should send them a thank-you note,” said Diane, 66.
This is an awesome story and a sign of things to come. Prices are raising and now is the time to SELL!!! Even those who were underwater are finding out they can SELL and still have some cash left over to start fresh.
If you are considering to short sale your home and would like to speak to someone regarding your situation then feel free to contact Realty Empire your Miami Short Sale Specialist at email@example.com or 786-664-7710