The pandemic has put a strain on so many aspects of DeLand homeowners’ lives. For many, job loss or drastically reduced work hours has led to the inability to pay monthly mortgage payments. That’s where SFR Certified real estate professionals come in.

If unexpected life changes have you facing the short sale or foreclosure of your home, we are here to support you every step of the way. 

How Do I Sell My Home Before Foreclosure?

Contacting an agent is one of the first things you should do when you are underwater and cannot make mortgage payments.

We understand the desire to take the ostrich approach – head in the sand – while hoping it will all work out or just be over with already. However, swift action is essential to help you get the most out of your home sale and after you pay the bank. 

Short Sale vs. Foreclosure

Realtor.com explains the difference between a short sale and foreclosure as follows:

A short sale transaction occurs when mortgage lenders allow the borrower to sell the house for less than the amount owed on the mortgage. The foreclosure process occurs when lenders repossess the house, often against an owner’s will.

If you get help soon enough, you can typically “short sale” your home before the bank finalizes a foreclosure. While your credit score is still affected due to absent mortgage payments, you are far better off if you can move forward with a short sale, especially in the current seller’s market.

Choose a Real Estate Agent with SFR Certification

Short sales and home foreclosures are more complicated than the average real estate transaction. Therefore, it’s essential that you hire a real estate agent with a Shortsales and Foreclosure Resource (SFR) Certification to keep the process moving forward as expediently as possible. Time is of the essence, and a single mistake on the part of an inexperienced or unqualified real estate professional will cost you. 

This specialized certification is only available to licensed real estate agents. It is like a “post-graduate” class for experienced real estate professionals to become niche experts so we can confidently and accurately navigate our clients through a complex process at an emotionally and financially challenging time. 

Benefits of Working With an SFR Certified Agent

There are multiple benefits to short selling your home with an SFR certified agent:

1. We handle negotiations with the lender

This is such a sensitive time for you. The potential of losing your home and all that you’ve invested into it is just one stress on multiple layers of strain related to the situation that got you to this point in the first place. The last thing you need is to be emotionally engaged with lenders who only see black-and-white and are often hardened to the plight of struggling homeowners. In this moment in time, it’s best for your professionals to speak with their professionals to ease any tension or risks of emotional outbursts that could make them less apt to cooperate.

From a business perspective, it is not in the lender’s best interest for your home to go into foreclosure either. They also lose money in the deal since they have to cover the foreclosure’s expenses. So, the sooner you begin working with a licensed real estate agent who is fluent in short sale transactions, the more likely a lender is to work with you to prevent foreclose.

During the SFR Certification training, we’re taught how to expertly communicate and negotiate with lenders. And, lenders are typically so relieved to know an experienced agent is at the helm that they are more likely to work with you, extend deadlines, and become more supportive as your home moves into escrow with a buyer.

2. Professionally crafted short sale packages

A balance needs to be struck when moving forward with a short sale to avoid foreclosure whenever possible. As with any home sale, we want your home to shine and for buyers to see the very best your home has to offer without marinating it all in the frantic energy of a short sale. Buyers and their agents are keen to that, and it tempts them into low-ball offers. As your advocate, we want you to get the very best price possible to optimize your final financial standing and to appease the lender, benefitting your future financial and tax forecast.

In the meantime, we need to professionally plead your case and submit the necessary paperwork to keep the lender on board. Our short sale packages have all of the paperwork in order, including financial statements, a professionally worded letter attesting to the financial hardships that led to your inability to pay the mortgage, and copies of other relevant financial records. 

3. Direct connections to finance, tax, and legal professionals

Through our certification program, we’re introduced to finance, tax, and legal professionals who also specialize in protecting their clients during and after short sales and foreclosures. So, rather than the all-consuming worry or unknowns around “what’s going to happen after I sell my home,” you are put in immediate contact with the best of Volusia County’s professional network, who will help you move forward in whatever way serves you best. 

4. Facilitate the foreclosure process if necessary

Ideally, homeowners act in time to get into a contract with an SFR-certified agent, and their home sells. If it is too late for that, a qualified real estate agent will help you navigate the foreclosure process, including putting you in touch with the aforementioned finance, tax, or legal professionals, to ensure you have the support you need to move forward.

5. Support and representation every step of the way

We have witnessed repeatedly what a relief it is for clients who hire us to short sell their homes. Knowing the home won’t go into foreclosure and having all of the paperwork, lender communication, negotiating, etc., taken care of on their behalf is a tremendous weight lifted from the homeowners’ shoulders. 

In addition, you know your home will be well-represented because we have direct lines of communication with eager home buyers. Our ability to network with agents in our office and other real estate professionals in the area means your home is likely to sell faster than average, alleviating your stress as much as possible.

Have you gotten in over your head with missed and late mortgage payments? Are you lying awake every night wondering, “how am I going to sell my home on top of everything else I’m dealing with?” Don’t lose another night of sleep. Instead, contact Southern Exclusive Realty ASAP so our SFR Certified agents can get to work for you.