Well, I have had my first experience dealing with a Short Sale and if they are all like this one then I certainly hope it is my last one. I have been working on this process for a year and a half. It was a true shortsale need for my Seller. Well, I had numerous offers with some buyers hanging on for months. The Mortgage Co. just didn't want to be a cooperating part of this process. Well, of course I am not a quitter with anything that I do! Everytime that I hit a deadend I would just find another arrow pointing me in a different direction. I finally got another good offer and started once again with the assistance of a third party helping me to get this Mortgage Co. to help us. Recently and very unexpectedly my Seller died. What a tragedy and I just can't express how much it hurt me! I had given my word to this man that I would sell this home to help him and his family. Most people thought at that point it was over with selling this home. Well, like I said I never give up. I got very busy with with the Mortgage Co. on finding ways to make this work. I explained what had happened with my Seller. Thru many phone calls, emails and research we discovered a way to make this happen. This is the Shocker, after a year and a half, I finally have an approval letter and we have a closing scheduled for 3 weeks out! Wow, what I went thru to get to this point. I will post when I get this property closed just to let you know that it did indeed close!
Short Sales get easier - the more you do!
Here in Central Florida - most are short sales!!!!
That's a messy one, and a real heartbreaker too. I always avoid short sales, for varous reasons, but there are some agents making a living on them. Good luck with that closing. As always, don't spend the money before you have it.
And it is just as hard on the buyers' side. You can take as much training and know everything about short sales, but it is all a waste of time because the one thing that does not change is the stone wall bureaucracy known as the bank.
I can relate! We have been doing alot of Short Sales and they can be a pain in the neck. It is frustrating, time consuming and you get grey hair. I find depending on the bank, some are easier then others but you need to have patience, persistence and just hold on for the ride. Best of Luck to you
Trish,
What a shocking story to hear of the homeowners misfortune and then death. But, what a wonderful agent you are. Your patience & hard work has helped keep your promise to him. Hopefully it closes in the next 3 weeks for everyone. Congrats!
Jeana Cowie, Broker Associate, Re/Max Real Estate Ltd., Bergen County, NJ
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