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short sales: Cut your commission or else!!! - 11/16/09 03:52 PM
I have been dealing with Chase as a second lien holder on a short sale.  Needless to say, it has been a nightmare.  Let me give you a bit of history.  This home was listed in May.  I received an offer the end of May and it was submitted to both lenders, Bank of America and Chase. 
In August we received approval from BOA with a close date of 30 days.  They did agree to pay the commission that was arranged on the listing agreement.    Chase meanwhile hasn't given any indication that they are anywhere close to approval.  We pushed … (1 comments)

short sales: Had to fire a short sale client - 10/07/09 01:07 PM
I got a new listing the other day.  The client hired an attorney on the east coast of Flordai after reading his blog on Active Rain.  This client has a second home that he bought for his parents to live in. (5BR home) As usual in this market, it is way upside down.  He has it rented, but the rent is not covering the expenses.  Anyway, I met with him and his wife, went over the listing agreement and short sale issues.  He met with the attorney and they came up with a game plan.  The next day I met with … (13 comments)

short sales: Welcome to my short sale world - 06/21/09 05:54 AM
Over two years ago I decided to become a short sale listing agent.  I have spent countless hours talking with banks and learning all I could about short sales.  I continue to learn with each listing I take and contract that successfully closes.  The world of short sales is anything but consistent.  Each listing, sale and bank is different. 
I have discovered that one thing that needs to be consistent is my attitude, desire to help sellers and management of each and every file.  I have started to use a third party negotiator and that is still a work in progress.  I … (1 comments)

short sales: Are we working toward the same goal???? - 09/28/08 07:19 PM
Another short sale story.  Grab you fuzzy bunny slippers and get comfy.  I have been working on a short sale with Wells Fargo since May.  Submitted the sellers life history along with a ream of paper in the fax machine to a fax number for Wells Fargo.  Did the same thing to another fax number for the second loan, also Wells Fargo.  This file is starting to look like a Manhattan phone book, it is so thick.  After about a week, check with the bank to make sure they have the documents.  Of course they didn't receive them.........that seems to be … (4 comments)

short sales: The Price is Not Right - 08/03/08 07:01 PM
Another short sale drama,,,,can you stand it?  I am doing a short sale in a very upscale area of Bonita Springs Florida.  This is a coach home, one car garage with bundled golf.  Very lovely home, but needs some work.  I started the listing out at "market value" according to comps in the community.  Every 21 days I drop the price 10%.  Of course, because this is a short sale, it is being sold "as is" with right to inspect.  After a couple of price reductions, I received a cash offer for $50,000 below what I was asking.  I put the offer … (2 comments)

short sales: Wheel of misfortune - 07/28/08 07:55 PM
There are hundreds of people in Southwest Florida who are gambling and don't even know it.  They are betting that something won't happen to the home that they are trying to sell that is vacant and unoccupied.  You would most likely think those two words mean the same thing, but not if you are an insurance company.  To your insurance company, your home is vacant and unoccupied if no one lives there and there isn't any furniture in the home.  If this description sounds like your home or some of your client's homes, they most likely will not have any coverage … (1 comments)

short sales: Short Sale in Cape Coral - 04/11/08 09:48 PM
Another call came in the other day from a lady from California who wants to short sale her home in the Cape.  I asked her the standard questions about her financial situation, information about the house and how far behind in the payments she is.  She is quite a few months behind in her payments and doesn't know what she is going to do.  I explained to her that the bank would require lots of financial documentation beofre they would consider a short sale as well as a hardship letter explaining why she can no longer afford the home. 
She paused … (0 comments)

 
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Jackie Nary

Fort Myers, FL

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Downing Frye Realty

Address: 27180 By Landing Dr #5, Bonita Springs, FL , 34135

Office Phone: (239) 992-8711 x 738``

Cell Phone: (239) 218-0328

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