We have been working on a short sale for a while here in Panama City.  The second mortgage quickly agreed to release for 3000 but the first continued to ignore me.  I knew the negotiators name so I called a senior supervisor to tell them that this negotiator was ignoring me and would not return my calls and emails.  After the negotiator got a good chewing from the supervisor, my broker recieved a call saying that the lender would approve the file only if it was transferred away from me and to another agent.  Evidently the negotiator did not like being called out, too bad, it needed to happen.  So my broker puts the file in another agents name and low and behold, the lender approves the short sale for $120,000.  Now is when the real stupidity comes in, the seller owes $104,000 on the home and even after paying the 3000 to the second, the first would be paid in full and would not require a short sale.  What is even dumber is the BPO came in at $85,000 and most likely an appraisal would follow suit.

You just can't fix stupid sometimes............. Rest assured this one will get done!!!

Jeff Payne, Broker Associate
The Payne Group at Keller Williams Success Realty
www.KnowPayneKnowGain.com
850-392-1770 Office
850-890-0132 Cell

 

 
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9 Comments on Short sale stupidity in Panama City Florida

NOV
10
609,551 Points 244 Featured Posts Localism Sponsor Outside Blog

What the........!! Sounds like this particular negotiator is having a bad life. It's a shame he has the authority to mess with people's lives. Short sales are serious business and need to be handled that way.

6:15pm • #1
358,953 Points 16 Featured Posts Outside Blog

Jeff - I don't even know what to say! Sheeeesh that's just unbelievable. ~Rita

6:15pm • #2
156,617 Points 2 Featured Posts Outside Blog

Bryant, I closed one with her before and she was not too bad, she is cracking under pressure

Rita, I was speechless for a while myself.

It is not funny, but it is laughable

6:22pm • #3
162,471 Points 6 Featured Posts Outside Blog

I actually had one that worked kind of like that; I could not believe the stupidity on that one either. That was with ASC.

8:39pm • #4
NOV
11

Jeff, I have to ask...how much is the offer for? 

Kevin
12:01am • #5
NOV
12
157,592 Points 9 Featured Posts Outside Blog

Jeff - Please let us know the idiot lender's name?  Also, I am confused about the payoffs, etc...   could you elaborate?

5:43pm • #6
NOV
13
156,617 Points 2 Featured Posts Outside Blog

Offer was for 80,000.

The lender, WF, balance was 104,000 and the second Chase had already agreed to take 3,000. 

The lender countered at 120,000 which would have a $4300 surplus at a closing, they would not even be short.

9:01am • #7
1 Featured Post

Hey Jeff -

I personally like Wellsfargo negotiators as they seem to be making more than minimum wage.

"I knew the negotiators name so I called a senior supervisor to tell them that this negotiator was ignoring me and would not return my calls and emails."

Big mistake in my book. I do the same thing but I am political about it. I let the manager know that the negotiator is a great person and very responsive in the past but lately I am unable to get a hold of them as of late. I also state that I understand that they are busy but if they can spend 5 minutes on this file, that I can close it for them. Here's an example of what I send (by the way, ever get an approval letter  that has the same date as the closing date!):

Hello Pamela,
 
So sorry to bother you, but I need your help. On March 6th I received an approval letter with a closing date of March 6th. I believe it should have been April 6th. I have called and e-mailed both the negotiator and closer (Ellen and Lucretia) on a daily basis with no return response. On March 10th you contacted them as well and still no response. 
 
Pamela, I need the approval letter ASAP so we can close this file. Because of this delay, we are now shooting for a  March 27th closing but I appreciate if you can give us till April 3rd.
 
I have nothing against the closer or the negotiator. They are both nice people and I understand they are extremely busy. However, this short sale has been sitting on my desk since March 5th 2008 (entire package submitted in July of 2008) and I would like to close it by month's end. Any help is greatly appreciated. They can e-mail me the new approval letter or send it to my e-fax at 949-274-4186.
 

Regards,
Satar Naghshineh

10:59pm • #8
NOV
26
183,002 Points Outside Blog

If that negotiator just did their job this would not have to happen. They should have gotten rid of the negotiator. Bad for "their" business.

6:07pm • #9

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Jeff Payne, Panama City Real Estate

Panama City, FL

More about me…

The Payne Group at Keller Williams Success Realty

Address: 2110 W 23rd St Suite A, Panama City, FL , 32405

Office Phone: (850) 392-1770

Cell Phone: (850) 890-0132

Email Me

Panama City Real Estate, New home construction specialist, Cherokee Heights, Deerfield Estates, Military Relocation, Tyndall Air Force Base, Naval Coastal Systems Panama City Beach, Panama City, Real Estate, Panama City Beach Real Estate, short sales, REO, foreclosures, first time home buyers


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