In about an hour I’ll be heading up to Stetson Valley (not an actual valley, just a subdivision on the north end of the real Valley … which actually is a basin … but let’s not get into that today, okay? Okay) to take some preliminary photographs and set a price on a new short sale in Stetson’s patio home section.
There is zero chance I will not have the place under contract quickly. In fact, there’s virtually zero chance I won’t have electronic stacks of offers in my Inbox within 48 hours of entering the home into the MLS. That much is certain.
But there remains one very large area of uncertainty and that’s the lender in the equation – PHH Mortgage.
Sometimes PHH is in a good mood and approves short sales with a minimum of hassle. Other times, PHH can dig in its heels and make things more difficult.
In that respect, they remind me of my children.
Which way is it going to go this time? Who can tell? Even six years into a market where short sales have been prevalent, documentation and paperwork and processes and response times all seem to change constantly.
Having said that, there is no possibility of success without the effort. And it’s worth attempting to get the short sale approved versus simply letting the house go, at least in this owner’s case.
For you, the final decision may different. Make sure you talk to someone before you make it.