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Another Short Sale Approval - 3147 W Kingsley - Springfield Mo Real Estate

Receiving bank approval on another "Short Sale" today, I immediately called the buyer's agent and congratulated him for keeping the buyer at ease during the transaction. He is aware the home is sold "AS IS", and he just completed the home inspection yesterday.

Knowing the home owner cant make any repairs, they signed an extension to close by the end of the month and we are proceeding to close.

The good news - is was BOA......taking 2 months to received bank approval. Not bad for a company that usually takes 5-6 months to get approval. 3147 W Kingsley, Springfield, Mo

Kay Van Kampen is a local Realtor serving Springfield, Ozark, Nixa, Rogersville, Republic and surrounding areas in Greene, Christian and Webster Counties in Missouri. She is ready and available to help you with all your Springfield Mo real estate needs. To contact her go to www.kayvankampen.com. If you would like a free list of homes for sale in this area/neighborhood, would like more information about Springfield, Ozark, Nixa, Rogersville, Republic, Willard and surrounding areas or would like to be the first to know about hot new listings before other buyers do, then give me a call at: 417.839.4534.

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Posted by Kay Van Kampen, CDPE, Broker, Springfield Missouri Real Estate on 11/13/2009 09:28 PM

Comments (7)

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Originally posted at: Springfield Real Estate Chatter: Another Short Sale Approval - 3147 W Kingsley - Springfield Mo Real Estate

Post is included in group: Short Sale Specialists & Pre-Foreclosure Education
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7 Comments on Another Short Sale Approval - 3147 W Kingsley - Springfield Mo Real Estate

NOV

Nice looking house. I hope the buyer has many happy years living there.

It sounds like you are doing well with short sales. I wish I could agree with them. I had the worst experience today. I have a short sale with the bank approving the HUD. They sent a new letter out today (what I usually call an adendum) demanding an additional 1% or $5000 as an administrative fee. This after the clients have brought in over $24,000 to pay all closing costs and liens. The buyers have had it and I almost wish they would wait for the court house sale. Of course my duty and responsibility is to the seller my client. It is just the bank's greed that is getting to me.

NOV

Carol Pease, ABR, CRS, CRB, (512) 721-6320 ( Keller Wiliams Realty)

Carol, I do too. After working these short sales as long as we do, the buyers deserve these great buys.

Bonnie Kappler, GRI Lic. 01372899 (Coldwell Banker Lake Tulloch)

Bonnie, not sure why they are charging the 1%. But I know if the home was a government loan, they can not drop the commission. This may be their way of collecting.