So Tuesday I submitted a short sales contract...thrilled...excited...and preparing myself mentally for the snails pace movement that nornally occurs throughout the long process. You should have seen the look on my face when the appraiser called and requested to get into the house!
Appraisal ordered too soon for a shortsale?
As a listing agent..I was thinking that is rather strange...why the heck would the buyer get their appraisal done so quickly? Thinking as a buyers agent...I wouldn't let that happen. Too many short sales turn into foreclosures and why would a buyer do this and take a very big risk..they may never see the money back from the appraisal!
So I left the appraiser a message..explaining this was a potential short sale and what is heck is the bank thinking that a buyer should have the property appraised before their short sale purchase was approved..I submitted the package that afternoon? Have they lost their minds?
No.....No....and No!
I couldn't believe my ears and grinning from ear to ear. It was the lender who holds the mortgage and rather than drag their feet and let the property go into foreclosure or close to foreclosure. They decided to do the right thing and get the ball rolling quickly and from the very beginning.
Very different from many banks. I feel lucky and very blessed... I'm prepared for the length of time it will take to close but I can't help it and get excited.
Tuesday Bilateral
Friday Thursday Lender Appraisal Being Done!
There is a great chance I might actually get paid within a reasonable time for all of my hard work...and maybe my hourly rate will increase when handling Daytona Beach Shortsales!
I suppose I don't have to follow up tomorrow to see if they received the package! :) Although I don't think I really have to but to be on the safe side I will. :)
About the Author: Midori Miller is licensed in the State of Florida, BK645709 and currently hangs her real estate license with CENTURY 21 Sundance Realty. Midori is also a real estate trainer and an ActiveRain Ambassador and specializes in short sales for Daytona Beach real estate sellers. If you are in the market to buy or sell real estate in Daytona Beach, Florida..please contact us!
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Wow Midori! Maybe a few banks are beginning to get the message. I know they're swamped, but it seems they would like to clear their desks a lot more quickly just like we would. If they can shortcut the short sale process, good for them (and for us)!