Sunday, August 7, 2011
Tenants Are Oil and Short Sales Are Water
They just do not mix! For every short sale in South Florida I have ever had, and there have been many, the homes without a tenant have sold faster and smoother by a long shot. short sale Here I am, stuck in the middle between tenant and owner, who is obviously in deep trouble with his home, and I have to deal with an uncooperative tenant just to show the property.
Granted, I don't mind doing it now and again with a cooperative tenant, but I have yet to meet one! Once a tenant realizes you are in trouble or underwater the last thing they want to do is cooperate with an agent in the showing of "their" home. Why not just ride it out until the bank takes it is their philosophy.
Part of any leasing agreement between landlord and tenant should always stipulate cooperation in the showing of a property should the owner decide to sell it. On the other hand, the owners generally don't want to ruffle any feathers, so they deal with the bull these tenants throw their way and then shuffle it off my way to. Well, that just isn't going to fly. I am a professional and should be treated that way. I do not work for the tenant and shouldn't have to put up with them. I work for the owner, and as such, should be treated with respect. The owner has to put his foot down and lay down the rules in the showing of their property before listing it and make sure the tenants are compliant before even hiring an agent.
The tenant is not your friend in this situation sellers! You are so much better off getting rid of them for so many reasons, but chiefly because your home will sell so much faster without them, thus saving you money, headaches, and saving your credit hopefully. The tenant does not care one bit about you and their situation. If they did they would be helping in the cause, not putting up roadblocks. As a short sale agent in South Florida you best bet is to take my advice and either make absolutley certain your tenant is cooperating or end the lease. You cannot have it both ways where you can keep them and their money, while at the same time sell to someone new. This type of mentality works very, very rarely. You don't need the money anyway. The bank knows you have stopped paying the mortgage and you are trying to sell, your lawyer is taking care of that. Let him do his job and your agent do his and you will be all the better for it in the long run. Remember, the tenant is not your friend.