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How Many Times Do I Have to Sell This House or is the Third Time a Charm?
Among my dozen or so short sale listings in Sacramento, sits a darling home in Orangevale that begs to close escrow. The first go-around brought 4 or 5 offers, half of which vanished by short sale approval. The banks approved the sale very quickly, too, in about 5 weeks.
Upon approval, we were down to 2 buyers, one of which had offered substantially more than the other, so the bank chose that buyer.
But that buyer hired a doofus home inspector who insisted the home had been through a recent flood. Nope, the sellers responded, there had been no flood. What had happened was the removal of 6-inch baseboards, which were replaced by smaller baseboards. This left an exposed unpainted line on the walls around the room that looked like a flood line to the inspector. Hey, wear your glasses, why doncha? Regardless, the first buyer freaked out and canceled.
The second buyers were real estate agents who were planning to cosign on an FHA loan for their son. This time we got short sale approval in about 3 weeks. Halfway through escrow, the son bought another home. Fortunately, the second buyers decided they would move forward anyway and buy the ... more

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