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Elizabeth Weintraub

How to Stop an Auction

By December 17, 2012

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The holidays is a terrible time of the year to be worrying about how to stop an auction.

Fortunately, many of the major banks, including Fannie Mae and Freddie Mac, automatically put the kibosh on auctions this time of year. It's not because they are kind hearted or they care about humanity, it's that they don't want the bad press for throwing a family out on the street on Christmas Eve.

Even so, don't count on their feigned kindness to stop an auction. And don't wait until you are a few weeks away from an auction to list your home for sale as a short sale. A few weeks might not give your agent enough time to expose your home to the largest number of buyers much less stop an auction.

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At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.

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