After trudging around in the rain yesterday from 9 AM to 6 PM showing property, it was a welcome relief to come home and change into dry shoes. Note to self: wear boots in this weather! Our Sacramento storms have not let up, and tomorrow is expected to be worse than today.
But the good news is one of my buyers wrote an offer last night, I received an acceptable cash offer on another Sacramento short sale, and one of my Bank of America short sales in Elk Grove received approval.
The incredibly patient buyers for this Elk Grove short sale signed an offer in early August. In all fairness, though, Bank of America was a little messed up last fall and has since straightened out those problems by hiring third-party vendors to handle the paperwork. Once we finally got a negotiator assigned in November, the file was processed pretty smoothly.
I've heard some agents say I am really hard on buyer's agents. I simply want the buyers to commit to the short sale process. If these buyers had not committed, instead of going into pending status today -- after 6 months of work -- this home would be going back on the market and my sellers would be back to square one.
My commitment to my short sale sellers is steadfast. I push hard for short sale approval. If the buyer really wants the home, I'll do everything within my power to see that the buyer gets it. Asking a buyer and the buyer's agent to wait for approval is not out of line nor unreasonable.
I know there are Sacramento short sale agents who won't touch a Bank of America short sale with a 10-foot pole, much less a Countrywide short sale. This Elk Grove home had 2 original Countrywide loans. It's what I call a double-Countrywide. But Bank of America is now streamlining its short sale process, so future transactions should not take as long. However, my sellers and I will still insist that buyers commit. That's never going to change.
But I do hope the weather changes. At the moment, it's very windy and still raining. And I'm off to Lincoln this morning to shoot interior photographs of another Lincoln Crossing short sale. I'm gonna wear boots.
Photo: Elizabeth Weintraub
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