Squatters Make it Hard, Elpis Makes it Easy

As any realtor can attest to, trying to sell a home with non-cooperating squatters inside is a difficult and extremely frustrating situation. Last year, Eitan handled a case under these complex circumstances. The first time the realtor tried to close this transaction the short sale facilitator simply did not possess the skills needed to seize the small windows of opportunities afforded in a transaction like this. After many months, the deal died, and the clients had to reapply for short sale. The case seemed as if it would never close! 

After Eitan got his hands on the file, it took about six months to close the deal. Eitan stayed heavily involved throughout the entire process and was able to negotiate a cash for keys deal with the squatters to have the home vacated. The home they were dealing with was an estate, belonging to an elder man, who simply wanted to move on from the horrible death of his only daughter. In every short sale deal there are always many people involved, including; agents, banks, sellers, buyers, mortgage brokers, title clearance officers, and lawyers. It is not always easy keeping everyone updated given the sheer number of people involved yet somehow Eitan managed to do just that. He did an excellent job in all aspects of the transaction. 

After the home was sold, the elderly man was happy that a difficult chapter in his life was closed, the agents were happy with their commissions being paid after 18 months of work, and the lawyers were happy they didn’t have to draw up any more contracts, and thus concluded another successful deal for Eitan. 

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Quick Short Sales ARE Possible

A widely unkept secret in the short sale industry is that there is no such thing as a quick short sale. Eitan seemed to turn this logic upside down with this deal closed in late 2016.

After an elder woman moved out of state and stopped paying her mortgage, she was forced to sell her home or she would fall into even greater debt. Since she did not really understanding the importance of a short sale, her son took control of the situation, hired a realtor who in turn got Eitan involved. The home was currently occupied by tenants, making it difficult to show the home to potential buyers. It was a fairly difficult situation but Eitan was able help coordinate showings, which was quickly followed by a viable offer.  The offer was quickly approved. All the meanwhile, Eitan handled clearing title for this property, most complex of which was obtaining a Satisfaction of Mortgage from a company that went defunct in 1980’s. 

What should have been a long process only took about 2 months to close on the deal. Everyone appreciated his efforts and his great expertise in getting the deal closed, and multiple referrals were sent Eitan’s way in the coming months.

Communication is Key

The saying goes in real estate “Location, location, location.” In short sales it should be “Communication, communication, communication.” There is no doubt that communication is one of the most important factors in closing a short sale deal, and Eitan is second to none in providing this to his clients.

A real estate agent, Mitra Mijani, was helping a man in Brooklyn short sale his home, but the deal came to a halt when the man in charge of negotiating with the bank was not doing his job. The deal kept dragging along and was in open for about two years before Eitan got involved. Once he got his hands on the file and became the new negotiator with the bank, he was able to help close the deal within a few months. Eitan handled the case very professionally, in a timely manner, and made sure to keep the communication lines open with everyone involved.

Everyone involved really appreciated Eitan and were able to see the difference between his expertise versus the other negotiator prior to his arrival. Mitra, said, “I’m the type of person that once I start something I must finish it and Eitan is the exact same way! I had a wonderful experience working with Eitan and would recommend him without hesitation.”

Goodbye Squatters, Hello Happy Clients!

It’s perhaps the best joke in the industry: “When’s the last time you had an ‘easy’ short sale?” Unfortunately, the real life consequences and people involved with failed short sale transactions are not laughing. One such distressing situation arose with a couple of retired elderly homeowners in Long Island.

When the homeowners decided to move out of state, they left their house vacant hoping for a quick sale. Once the home stood on the market for a while, they began falling behind on paying their mortgage and decided to do a short sale. Of course, as can become a familiar theme, squatters beat legitimate buyers to the property. 

After Eitan got involved in the case, the homeowners put complete trust in him and granted him authority to make critical decisions on the best route to proceed. Eitan quickly involved the police and the squatters were evicted immediately (before they attained any rights). Shortly after, the realtor was able to begin looking for buyers to sell the home. 

With 4 liens on the property by various credit card and collection agencies, clearing title was perhaps the most challenging aspect of this deal (even more than the two mortgage liens). Eitan was handling the case very well by negotiating with the bank, the lien holders and the agents to make sure the home got to closing. Eitan kept in excellent contact and made sure to always update everyone who was involved. He did an excellent job in helping close this difficult case! Highly recommended!

From One Happy Client to the Next: Elpis Gets Results

When a mother of one left home to work out of state at her new job, she was both excited and nervous. Excited that she had a chance to work in a field where she found much opportunity, but nervous because the home she currently owned was to be left vacant with the mortgage still needing to be paid. It quickly became clear that she desperately needed to sell her home. Paying the electricity and utility bills for an extra residence was unsustainable financially. Squatters were quickly becoming an issue, and she was banging her head against a wall thinking about how to secure the property. She desperately needed help to sell home!

For four years, beginning in 2013, she attempted to sell her home through a short sale. All the real estate agents, lawyers and the banks she dealt with were unhelpful, seemingly just taking her money without providing any results. She was ready to give up. After suffering huge financial losses, as well as family hardships, she seemed resigned to her fate; she would never be able to sell her home, and would be foreclosed on. 

In 2016, a glimmer of hope finally appeared after Eitan received and reviewed her file. He immediately began working on her case, handling all aspects of transaction, and keeping all the parties involved in line. All of a sudden, it felt like progress was being made and that someone knowledgeable, who actually cares, is bringing the file towards resolution. Within a year, the file was closed and her home was sold! 

She no longer owns the house, and after four long years has been relieved of her mortgage debt that had racked up hundred’s of thousands of dollars in interest alone. The client states, “By doing this deal, he gave me back my peace of mind. Now I can finally see the light at the end of the tunnel.” Finally she feels like she can move forward, start rebuilding her credit, and start a new chapter in her life!