Personal Property is Not Free for the Taking in a Short Sale

A client described what it felt like to show his home in Sacramento as a short sale to buyers. It wasn’t pretty. He said he felt like he was standing up, trying to balance in a canoe, as he beat circling buyers with an oar to stop them from climbing into the boat. On the one hand, it’s nice that somebody wants to buy his home. On the other, it’s like a feeding frenzy.

For some sellers, it is painful to sell their home as a short sale. It’s not always a choice they come to make easily. After years of struggling, some reach the end of their rope and realize it’s a necessity. These sellers have often struggled through failed loan modifications, struggled with other family members and even struggled with their own conscience because a short sale doesn’t always feel “right” to everybody. When they finally make the decision to give up their home — and giving it up can feel like personal failure to some homeowners — they don’t need a buyer to come along and kick them in the gut.

What am I talking about? These are the buyers who feel it’s OK to ask the seller to leave behind personal items. Things like the refrigerator or washer and dryer, which are not fixtures. Maybe they want the dining room table or bedroom furniture. The sellers personal belongings are not part of the short sale. Non-fixtures do not remain with the home. If you spot a 1965 Mustang in the garage, don’t wet your lips and demand the keys. Don’t assume the sellers are vulnerable and will cave in to unreasonable demands. A Sacramento short sale is not a flea market. Everything you can see with a naked eye is not negotiable. Personal property is not free for the taking in a short sale.