Patience on everyones part is a huge factor in Short Sales ... and persistence on the Realtor's part ... because even when the Bank tells you 'call back tomorrow during business hours' ... hang up and call back again ... 

I had been working on this so called Short Sale since Feb 6th ... on that Thursday evening ... I was trying to put a HALT on the Foreclosure SALE, it was going to happen Friday morning, April 10th  at 10:00 ... and it had not been halted yet ... it was approx 4:30 PDT when I began making my calls ... and I was callingTEXAS ... the first call ... I talked to six different people, giving them all the SAME information, the final lady put me into a voice mail ... where I left a message ... again ... and then when I hung up ... I decided I had to call again ... and after 4 times of relaying all of the answers to the same questions again ... I got a hold of Trey

I told him 'Nice Name' when he told me his name ... ( I think that was the clincher! ) and I told him the situation and he asked me to FAX the paper work to him directly and he promised he would review it ... and he told me I could call him back in 20 minutes ... I asked him what time it was there he said approx 7:35 ... I asked him what time he got off work, Trey said 8:00 pm ...  I immediately FAXED the 30 pages AGAIN ... ( I had faxed it 4 other times ... on other days I had made calls since Feb 6th )  and on the cover page I told Trey he was the only one that could postpone this Auction in the morning, I also told him on my cover sheet ... I forgot to get his direct line phone number & I had no idea how I got him the last time!  So could he please call me back ... well my FAX went through, confirmation 30 pages final at 5:52 (our time) 7:52 Treys' time ...  I worked that evening until past 10:00 ...  I went home ... no call from Trey. 

When I woke up the next morning I called the phone number for the Auction and low and behold ... the sale was postponed... until May 15th... I opened Escrow and we will be closing the 30th of April ...  Well the Bank never got back in time, We did not close as should have ... I had no direct phone number for Trey and every time I talked to Loss Mitigation it was someone else ... the buyer backed out ... 9 days later the Bank calls ... I am talking to Byron now ... he asked why we did not close ... I told him they did not answer soon enough ... the buyer walked ... Byron asked if I thought I could get the buyer back he would FAX the Short Sale terms and we could close it for sure the end of May.

So I called the buyers Realtor and of course by then the terms would have to change ... it would cost the buyers $5000 more  to tear the house down due to his cheaper labor going back to work and you know many othe rfactors ... and so between all of us we renegotiated to $32,000 cash ... and after lots more work ... we put it together ~ We began the offer on Feb 6th 2009 and we finally closed that Short Sale on 7/30/2009 How Sold CASH Contract Date 2/6/2009 Sold Price $32,000 Additional Comments SHORT SALE~sold as-is

      but that is ALRIGHT ... the original reason taking the listing on a short sale was to help out my sweet little (older) out of area lady seller who got herself into a real bind on this property! btw the home is a tear down ... had been vacant for over 4 years ... the buyer will be tearing the old home down and rebuilding on the lot... the bank is probably real HAPPY I was so persistent on this one ...  I don't think they wanted it back...  they had done their rush BPO on it back in April!  They saw the pictures!  HA! in fact when I started negotiating them accepting a short sale I sent them pictures...

now the part you are not gonna believe!  all of this on a defaulting mortgage of $35,000 the Fair Market Value of the property is $38,000 + or - and we had a $37,000 CASH offer on the Table since last Feb 6th...  pencil that one out ... ha! and I am just the listing Realtor we get to split this commission 50/50 with the selling company! and the Bank cut our commission to 5% . There was nothing Short about this Short Sale!