I Helped My Destin Real Estate Competitor- On Purpose

As a Short Sale Specialist on the Emerald Coast of Florida, I sometimes run into a situation where a property cannot be saved from foreclosure.  Either the seller contacted me too late, or the property combined with the market was so fraught with problems, that a sale could not be obtained.  Luckily, we can often save a property from foreclosure right up to the sale on the courthouse steps.

I recently had a townhouse listed for sale in a gated subdivision in Destin, Florida.  The property was encumbered with association fees of $800 per month.  In my area, that is outrageous for a non-waterfront property.  In fact, to overcome objections to such high fees, the list price had to be lowered substantially, and then the numbers still did not make sense to a typical purchaser. 

Well, the day before the foreclosure sale we got a contract on the property.  My team scrambled to get it to the short sale lender, in this case, EMC.  They failed to cancel the foreclosure in a timely manner, and despite efforts to rescind the sale, they let it stand.

A few days later I got a call from the “new” listing agent, who let me know she had received the assignment from EMC.  Without hesitation,  and without being asked, I sent her all my information on the property.  I sent her details on the new association fees, the contact numbers for the association, and the name, telephone number and email address of the agent who wrote the offer.  I also emailed the buyer’s agent directly to let him know he should contact the new broker, so perhaps he could make his deal work.

I gave it my all.  I wish the new listing agent and the buyer’s agent the best.  And I hope they succeed.