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Why You Gotta Lie to Me? Short Sales in Distress.....

It's bad enough that Hawaii Short Sales take a long time but of course with patience forthcoming on all ends. The buyers wait patiently, the sellers hoping they'll be helped and all agents diligently doing their jobs to ensure a smooth and successful transaction.

Until the lying starts..........

Documenting every conversation and getting everything in writing is next to impossible if the negotiator does not return calls or give a courtesy email. We rely on speaking to 'representatives' who go back in the file to read what was 'said' or done before that phone call.

But I do my part and document everything.

The appraisal was ordered? The second appraisal had to be ordered because the first one expired? Funny, but no appraiser is calling to gain access to the property so another call is placed to the bank. They give a number to a mainland appraisal company only for them to say there is no such order.

So, what does one do when your patience has finally run thin knowing you were lied to? Hmmm...nothing left but think. This is a VA Short Sale so an email is placed to our local VA Loan Guaranty Officer explaining what's happened and what do you think? Did I get an answer? Right away! And they checked their orders for appraisals and there weren't any. Did they stop there? No! They put in an email to the negotiator and what do you think....there's an appraiser going out there on Wednesday.

Who knows if the buyer for our listing is going to hang around for this last stretch ......

but at least I found out how to go about helping our veterans when there are some that just won't.

If at first you don't succeed.....try, try and try again.

Posted by Celeste "SALLY" Cheeseman HAWAII Relocations & Real Estate on 09/28/2009 07:19 PM

Comments (28)

hawaii short sales, mililani real estate, honolulu real estate

Originally posted at: Hawaii Real Estate & Relocations : Why You Gotta Lie to Me? Short Sales in Distress.....

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28 Comments on Why You Gotta Lie to Me? Short Sales in Distress.....

SEP

Sally, you have been hanging around Master Photoshopper Craig too long, LOL, great picture!

Yes, a good spanking is what they all need. You know, spare the rod and spoil the child... seems to be true in this case. They should be lined up, smacked, their mothers called, then smacked again. I never hit my kids by the way, but there is a limit as to what one can really take.

Way to go Sally, now you have the panic button under your control!!!

Sally..You look Great as a Bull Fighter..Yes we do have to get in there and take the Bull by the Horns sometimes..Hopefully in time to save the deal...

HELPFULHANNAH

Sally,

I'm not sure I ever heard you speak of doing a short sale so I'm not sure how many you've experienced. I can tell that pretty much everything you said happens in with short sales. Unfortunately ...most of those things can be a pain in the butt to fix...some buyers cannot be patient enough to know they can take months...sometimes years to finally close so you'll probably have to get used to them and also get used to having a temporary ulcer. Actually there are some short sales that have no problems but I've seen more with than with not lately. My first short sale closed back in 2003 when not many agents even knew what they were or that they even exsisted....even why I was approached to do that one...I was like.....Whats That?

It is imperative to document regardless of whether or not you reach someone. I use those notes in all of my ongoing discussions with banks so that they understand the amount of effort we put in too. Plus, I know they're recorded their calls with me so we can definitely track what has been said or not said. I also find that when I can read back my notes with what actions and faxes I did on certain days that they're more responsive than just getting annoyed and telling them they're lying. Some of the people working in the short sale departments are sharp and others are dull. You have to be persistent to find the good ones and make progress when you can.

Good for you and your clients that you stayed on track and found the right person to talk to finally!

Sounds like this one may have a happy ending Sally. Stick to your guns and keep rattling cages until you find the right one.

Bgpic11142008103101_l Featured in M.A.N.C.R.O.W. CONGRATS!

Ole', Inconvient truths. We are all in the midddle of some of the most amazing times. If Buying a home was not complex enough before it certainly is now and will remain ever more so for quite some time to come. What we think and what we know becomes more dificult to explain but your approach goes a long way to separate fact from fiction. Any Buyer would be well served working with someone that knows how to get to the "inconvenient truth", sorry thisi phrase was used for a book that has absolutely no bearing on this post or this comment,but the phrase certainly does :-).

Andrea: Well, a little spanking is good... a little courtesy would be better :)

Hannah: Well, it's been eventful to say the least. I'm sure it'll be tough going but this particular one there should have been no problems....then again....all transactions take a turn.

Neal: I've written a few about our experiences (Randy and I have two listings and I have two in contract...hopefully will get to end) so we have not had the pleasure of dealing with many different ones. I basically am not counting on anything unless all parties are patient but I also will not stand back and just say hey....you just gotta wait when something can be done.

Reba; It's only because VA got involved. If it weren't for the many VA transactions we do on this island we most likely would not have the close relationships we do with our VA Loan Guaranty Officer from the Hawaii VA Office.

JL: Oh...it can always turn out happy....as long as each is doing their job it will turn out okay. :)

It pays to go to the "top"

William: These are sellers but as you know got two sellers, two buyers and a bunch of waiting lol...that's okay...gives me time to clean house lol!

Jane: Now THAT is a for sure ...thanks!

Sally Short Sales are a big enough challenge when everyone is up front with each other, but when the lies begin it goes from challenge to disaster.

Hello Sally...always nice to pay a visit. I wrote a "pay it forward" post and you were paid tribute. Might want to take a peak.....short sales are hard...we do out part!

Ah yes - the uncertainty of ... well 'anything' attached to a short sale !!!

Sorry you were swizzled by that lying sneak !

Hope your buyers hang in there and get the home in the end !

Cheers Sally !

Sheldon :o)

Sally- Document every single call, even if it is just a message. We time stamp all our notes in google documents which auto time stamps for us. Then we have a list of each call, each thing that happened on each call, each name of each person even if its a customer rep. We then can send the entire trail to the top VP of the lenders to get some action when they violate their own public policies. You did good! You thought about going higher up and that is just what you do when they start back stroking. Katerina

Sally - it certainly pays to keep careful track of what was done and said, by whom and when. Katerina's system sounds like an excellent idea. A colleague of mine who is a short sale demon spends a lot of time tracking down the head honchos and gets things done quickly. A good way, it seems, to get past the crap you get passed along by all the folks in various roles who are involved.

Jeff

Good job! I hope it all works out and results in a successful closing. Happy sellers and happy buyers are a good thing =)

Lisa: Who knows what will come out of this but hey...I'm just happy I found an outlet ....

Jeff: I agree... and I have documented everything so far. I know a short sale demon here and they just have to have a lot of people on their team to do all that work. I am determined to follow that path even if these are the only ones I do.

Katerina: Thanks...a bunch of hard work indeed. I will continue on to learn more about the top people. I know it takes a bit but with no courtesy email or call it really gets me moving ....more

Sheldon: Actually, it's sellers....but it's darn right wacked to be making up stuff .....it's just not right.

George: Yeah...and then the buyer goes elsewhere...and the seller is more behind....and so are the banks. So....with all that bail out money why didn't they hire extra help :)

Jeanean: I saw that...thanks! And yes...we do more than our part.

SEP

Document. Document. Document. That seems to be the law of the land nowadays...

Helping you live your American dream...

Sally - Atta girl! Sounds like you've finally figured out how to put their feet to the fire....a very good thing!

You're right...documenting is SO important. I try to do all my communications via email for this very reason....and when I end up on the phone to figure out what's going on, I follow up with an email "thanks for taking the time to discuss X with me this morning...." and reciting everything that had just transpired!

I'm proud of you being out there fighting the good fight on behalf of our veterans.....have a great day!!

Sally: It is truly amazing the distance we must travel to ensure that others are doing their jobs so that we can ensure we are serving our clients. Bless you for going the distance ...

Sally ~ Love this post. Great job. If the regular approach isn't working, then figure something else out. There's more than one way to skin a cat! (That's a saying - no offence to the cat, I like cats:-)

Hi Sally: For us short sale agents, it's almost like we are becoming accustomed to the lousy work and lies from the banks. Because it's the way things are. For it to be any different would be for me to run screaming into the night. It's easy to throw in the towel and give up. It takes guts to plunge forward and find solutions. Good for you!!

Hey Sally...well done Girl, nothing like an experienced Realtor to get the job done right :O)

Oh my...I know this mess with banks, REO properties and short sales is going to end and when it does, all of the folks who have acted so unprofessionally will be flat out of a job! It happened in Texas in the late 80's and early 90's and will happen in your part of the world too! Hang in there!

Sally - you have the right attitude "TRY TRY TRY AGAIN" ... judging from the face of the bull fighter and your remarks in the post you don't take any bull.

SEP

Don't cha just love our job :) I hate to be lied to, especially when it doens't even make sense ......

OCT

If there was a combination lockbox instead of an electronic one, you wouldn't have known. I guess that's why many agents are removing the lockbox once there is an accepted contract. Good luck with your transaction.

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