Coldwell Banker Howard Perry & Walston Unveils SAFAssist, Short Sale and Foreclosure Assistance

June 16, 2011 - PRLog -- RALEIGH, NC – In keeping with the entrepreneurial spirit that has driven the company to become one of the leading full-service residential real estate firms in the nation, Coldwell Banker Howard Perry and Walston is very pleased to unveil SAFAssist, a timely program designed to assist both home owners and real estate agents throughout the short sale process, allowing home owners to avoid foreclosure when threatened, while allowing real estate agents to do what they do best… Market and sell homes. The SAFAssist program features numerous resources and services that have proven to be invaluable to all parties involved, with its availability to Coldwell Banker Howard Perry and Walston customers and real estate agents at no out-of-pocket cost topping the list. Read on to learn more!

“Our motivation in devising SAFAssist was two-fold,” says Roger Bernholz, General Counsel to Coldwell Banker Howard Perry and Walston. “First, we wanted to address the pressing needs of home owners who need to sell, even though they are ‘underwater’, and especially those who generally have no choice but to sell their homes when they find themselves facing foreclosure. Second, we wanted to support our sales associates. Proper understanding and management of a short sale is very technical. Home owners in this situation need legal advice, and many can’t afford an attorney. SAFAssist provides legal and administrative assistance to these owners, keeping our agents from being in the middle of what is oftentimes a complicated process. The fact that the program is available at no out-of-pocket cost to our customers and our agents is a wonderful component that has been extremely well received.”

SAFAssist launched in mid-January, with Coldwell Banker Howard Perry and Walston Market Title Manager Karen Ross directing the program. “Although we knew a significant portion of home owners in the market were in need of a short sale, we’ve had far more demand than we expected,” says Karen. “SAFAssist is one of many differentiating factors Coldwell Banker Howard Perry and Walston offers in the marketplace. Some companies offer short sale and foreclosure assistance, but ours is the only one with no out-of-pocket costs and a local, independent attorney. We work with Gurley & Cookson, PLLC, a Raleigh-based law practice that represents the sellers, negotiates the short sales and helps North Carolina residents keep their homes long enough to sell and avoid foreclosure.”

“One of the most rewarding aspects of the program is the comfort factor it provides,” Karen continues. “When home owners find themselves facing foreclosure, they’re typically stressed to the max, as you can imagine. SAFAssist alleviates a tremendous amount of that stress. We walk each client through the process, taking care of their paperwork and keeping them up to date on what’s taking place. The attorney talks with each client in person, if at all possible, to learn about the client’s specific situation to determine the best course of action. The attorney is paid by a charge that’s deducted from the client’s proceeds at the time of sale; the program isn’t ‘free’ but it’s available at no out-of-pocket expense. We thoroughly explain up front that the attorney is paid by a reduction in what the seller and lien holder will receive at closing. With our credit counseling to help minimize the credit impact and help the client repair credit, a staff of experts to act as a liaisons between the client and the many parties involved in the short sale, and legal assistance to properly guide everyone through the process, clients are very willing to take a reduction in the sale’s proceeds to have these and other extensive services provided to them. The program is designed to keep costs relatively low, with the goal of a successful sale with minimal credit damage to the client. Real estate agents with clients in the program don’t get bogged down in negotiations in which they are often untrained to perform; these agents can instead focus on the work they do best: marketing and selling homes. It’s a win-win program all the way around.”

Where does this leave agents who’ve earned the Short Sales and Foreclosures Resource (SFR) Certification through the National Association of Realtors®? Very happy, according to Roger and Karen. “Agents with this designation have a good understanding of the short sale process, but still, they’re not attorneys,” says Roger. “We’ve found them to be delighted to have this assistance available, especially at no out-of-pocket cost. It keeps them from being expected by clients to practice law without a license, and it has no effect on their commissions. What’s not to love? And their expertise allows them to deliver better service and information, too.”

“Short sale buyers most certainly exist in the marketplace,” Roger continues. “Properties in short sale programs are required to be marketed as such. Buyers recognize that there are bargains available through short sales; most know they need to be patient with what is typically a longer process than a non-short sale purchase. Through working with our SAFAssist professionals, buyers recognize the increased likelihood of a successful short sale, in a decreased period of time than they could otherwise experience. As Karen said, it really is a win-win program.”

What about builders? Do they qualify for SAFAssist? Absolutely, say Roger and Karen. “If a builder’s homes or lots are listed by a Coldwell Banker Howard Perry and Walston agent, they are eligible for the program,” says Karen. “Outside agents can refer listings to our company as well. The critical factor here, as with home owners, is that sellers must show a hardship. It may be that they’re not actually behind in their mortgage payments, but they must show a necessity to sell and an inability to pay all that is owed.”

“The situation of home owners owing more than they can sell their home for is not a new phenomenon,” says Roger. “It’s just so much more prevalent today than ever before and the shortage in sales proceeds is often much larger than people can pay. There is no ‘one size fits all’ approach in working with short sale clients…. We approach each situation on a case by case basis. We’re just glad we’re here to help.”

Since the program’s inception, the SAFAssist team has worked with hundreds of clients in every price range imaginable, in all parts of North Carolina. Troubled owners of beach and mountain properties are especially drawn to the program; banks have been found to greatly prefer the negotiation of paying off these loans for less than the balance due over foreclosure procedures. The aptly described “win-win” SAFAssist program is indeed an excellent solution for owners, agents, and even buyers. To learn more about the program, call Coldwell Banker Howard Perry and Walston at (866) 462-7055 or visit www.SAFAssist.com.  

Rebecca R. Newsome, MIRM
Constructive Marketing
919-810-2504
rebecca@constructivemarketing.net
www.constructivemarketing.net

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Conceived by Rebecca Newsome in 1999, Constructive Marketing is a proactive solution to marketing needs. Public relations, editorial branding, developing marketing campaigns, media planning, & event coordination are just a few areas of expertise.