This one comes with quite the story. My clients originally saw this home when it was a short sale listing. They made a bid, competed with about 6 buyers, and got the acceptance. The listing agent told us it was already approved at the listing price and we would have an approval for the transaction within 72 hours.
Not only did THAT not happen, but we waited for an entire MONTH with no approval. Then one day, I get an email at 1am in the morning that the home had just gone to foreclosure in the middle of our transaction! The listing agent who was also the seller, didn’t even know it had gone to foreclosure and was first made aware of this when the NEW listing agent contacted her asking why HIS foreclosure listing was showing on MLS as pending.
Needless to say, that deal fell through. About a month later, the home came BACK on MLS as a foreclosure. My clients once again made an offer, this time competing with 9 other offers. And, luckily, they prevailed yet again.
And, the moral to the story…it closed escrow and they are very happy to FINALLY get into their new home.
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