REAL Exclusive Magazine

Cristy Carrington Lewis Named Lead Account Manager For Short Sale Division.

Michael Saunders & Company announces the formation of Short Sale Division. Rejoining Michael Saunders & Company as the new division’s Lead Account Manager is Cristy Carrington Lewis. Lewis will combine her experience as an award-winning real estate agent with a focused legal background that includes extensive experience facilitating short sales for a Sarasota law firm. “Our goal is to unburden our clients and their agents from the massive amount of time and effort it currently takes to facilitate a short sale,” Lewis says. “Ultimately, our mission is to make sure that everything possible has been done on their behalf to complete a timely and successful short sale transaction.”

 “Agents have been known to spend upwards of 120 hours on a single case; only to see their efforts on behalf of their clients add up to nothing when the lender refuses to budge,” said Michael Saunders from the firm’s headquarters in downtown Sarasota. “The process is extremely fluid, poorly-defined; and without a clear set of procedures for agents or sellers to follow. A callback might be inadvertently missed, which can rotate your file back to the bottom of the pile. Under the best of circumstances, you need the patience of Job, the persistence of a marathon runner and the nerve of a tight-rope walker to manage a successful short sale.”

“Cristy’s experience helps unravel much of the mystery and frustration that surrounds the short sale process,” adds Drayton Saunders. “These types of sales are negotiated at least twice; first between the buyer and seller, then between the seller and the bank. Cristy knows exactly how to guide our clients, customers and agents through the blizzard of required paperwork; and will help make sure that all the necessary documentation is accurate, complete and submitted properly to the appropriate lender. As long, vexing delays are the norm after a contract is presented to a bank for formal approval, we use the best software of its type in the country to routinely track and speed progress on the case.”

“I look forward to the day when we have closed the last short sale in our market,” Michael Saunders added. “Until then we will continue to provide the professional resources needed to navigate today’s highly complex market.”

Short sale:
A short sale is a transaction in which the proceeds from the sale of a property at current market value are expected to fall short of the balance owed on the loan securing it. In such a sale, the bank or lender is formally petitioned to approve a discounted loan balance once financial hardship on the part of the seller is proven. A buyer is then able to purchase the home at the agreed-upon price, which is at or slightly below the going market rate.

Photo: Cristy Carrington Lewis