“Hi, we’re not happy with our condo anymore, so we’d like to short sell it.”
I experienced what for me was a Phoenix real estate ‘first’ today.
I was asked to help short sell a property of a married couple with “perfect credit” and no delinquent payments to any creditors. To further complicate matters, a tenant is moving into the vacant property, thereby creating additional revenue. They claimed their expenses exceed their income, thus a case could be made for hardship. Unfortunately, in the eyes of a lender, perfect credit + no delinquencies = no hardship.
It would not be ethical for me to take a listing that I don’t believe is sellable if the owner’s expectation is that it will be sold, nor would it be right to represent a property as a short sale when it won’t qualify. I declined the opportunity.
Might it turn into a viable short sale prospect in the future? Sure, at which time I’ll be happy to help get it sold…