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The Short Sale Closing That Was Saved In The 11th Hour!

By
Real Estate Agent with The Gasset Group & Get It Done For Me Virtual Services 13253167-SA00

The Short Sale Closing That Was Saved In The 11th Hour!



Short Sale- West Palm Beach Condo- The Slade  the slade short sales west palm beach fl



Short Sale Lender: BankUnited Florida - One Mortgage

Condo Fees- Current

Mortgage- Lis Pendens

Source Of Listing- Referral from our attorney- she does not do short sale negotiating.

 

  • Bank approval in less than 60 days.


  • Cash buyers


  • Hardship- Investment underwater, business decision


  • Seller had to pay for HOA fees, attorney fees and a few minor title fees. 



The first buyers were a group of investors who failed to perform on their contract at the end of the day.
We went through the whole short sale process, negotiated the short sale with the bank and the sellers.
This was an investment purchase. Our attorney who was doing the closing and the buyers' attorney went back and forth settling title issues.
The buyers then failed to wire the cash to our attorney's trust account within the time frame. We felt worst for their agent who could not even reach the buyers!

The date to close was coming up fast so we put the condo back on the market right away with the accepted price as an approved short sale.
This lender allows substitutions of buyers.


With less than a week to meet the lender's deadline for closing- we hoped for the best.

We were racing against the clock! Could we do it? It would have to be a cash buyer to close that quickly.

So to work we went and:

Within 24 hours we had another cash buyer. The buyers' agent stepped right up and their buyer did the home inspection within hours of signing the contract, wired the money into our attorney's account, Milet called the negotiator to tell her that we were sending her a new HUD for approval because we changed out the buyer and then we set the closing time!

So we closed this West Palm Beach short sale in the 11th hour, the day of the deadline to close on the approved HUD!

The attorney sent us this email:

"You guys did an amazing job on this deal. I cannot believe you found a new buyer and we closed it in a week."


Then the buyer's agent called us right after closing to ask us to list the property sold in the mls straight away because his buyer was putting the condo back on the market- he is flipping the property.
Sold price $139,000. He put it back on the market for $190,000.

There are some good flipping opportunities for skilled and experienced investors in our West Palm Beach Condo Market!

Avoid Foreclosure! Call Nestor and Katerina Gasset for Short Sale Information Today- 561-753-0135 or learn more at Short-Sales-Florida.com.

Search for your Home here   Short Sale Information

 

 

To  view Florida Short Sales- Click here. We know Palm Beach County Short Sales and Port St Lucie Florida Short Sales and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida: Call us today.

 

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Copyright © 2010 By Katerina Gasset, All Rights Reserved.*The Short Sale Closing That Was Saved In The 11th Hour* 

 

 

 

 

 

 

 

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In real estate we service Utah County, Salt Lake County, Wasatch County, Tooele County. This includes many towns and cities. Some of which are: Provo, Orem, Salt Lake City, Draper, Springville, Spanish Fork, Payson, Lehi, American Fork, Vineyard, Saratoga Springs, Eagle Mountain, Pleasant Grove, and more. 

Katerina Gasset is a real estate agent who is also a digital marketing strategist, website designer and consultant for real estate brokerages, agents, entrepreneurs and small business owners. She is also the owner of Get It Done For Me Virtual Services. 

Katerina is a Certified AI Marketing Specialist. She can help you with ChatGPT, Content at Scale, Neuronwriter, prompting, and many other AI tools. 

She develops products and online courses to empower real estate agents to reach their marketing, SEO, social media and branding goals. Katerina Gasset is a blogger, author, podcaster, and keynote speaker.  

Text Katerina with your name + number to work with her:

 561-502-1577 

 

 

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Comments (16)

Stephen Arnold
HomeSmart Elite Group - Scottsdale, AZ
CRS, GRI, SFR

Congrats you guys!! Cash certainly does help things move along!!  Thanks for sharing!!

Feb 06, 2010 02:01 AM
Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

Thanks for posting. We learn a lot from Active Rain blogs. Best Regards

Feb 06, 2010 02:06 AM
Fred Carver Real Estate Consulant
Retired BC Realtor - Victoria, BC
Accredited Real Estate Consultant

Hi Katerina...Now that's a fast paced real estate market...maybe not the one you'd like to be in selling the property twice to get paid..Well Done. And Now you get another chance to sell the property again :O))

Feb 06, 2010 02:14 AM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

No Fred- We are the listing agents. It was another agent that sold the property. That agent who was representing the buyers is the one who listed it after closing:) 

Feb 06, 2010 02:29 AM
Cara Pearlman
Frankly Real Estate, Inc - Bethesda, MD
Realtor - ABR, SFR

Katerina - what a great success story! a week to get a short sale closed is impressive!! Florida SS Sellers are lucky to have you and Nestor around.

Feb 06, 2010 02:32 AM
Patricia Beck
RE/MAX Properties, Inc., ABR, GRI, SRES - Colorado Springs, CO
Colorado Springs Realty

Congratulations, I'm glad everything worked out.  Sounds like the buyer got quite a deal!

Feb 06, 2010 04:50 AM
Deborah Grimaldi
Grimaldi Appraisal Services - Cranston, RI
(401) 837-9633

Have to love the 11th hour, Wow, that is great, and great for the investor and your perserverance on this one.

Feb 06, 2010 07:24 AM
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Katerina, boy!  You guys just never have a dull moment!  I think we should clone you and have you list all of the short sales in DC.

Feb 06, 2010 08:42 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Goot to love it when that happens. Under the wire. My favorite phrase.

Feb 06, 2010 09:51 AM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

Bryant- I love the momentum and the Adrenalin rush you get when under the wire:) 

Feb 06, 2010 11:47 AM
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

There is a statistic in baseball for the relief pitcher called a save. You know, the guy who comes into  the game usually in the eighth or ninth inning to hold on to the win for their team. You guys got a nice save on this one. Lot of pressure getting saves, congratulations.  

Feb 07, 2010 02:45 AM
Nyles Courchesne
Peskin, Courchesne and Allen, P.C. - Springfield, MA
Massachusetts Real Estate Attorney

That sounds like a heck of a tough deal.  Nice job.  I enjoy reading your posts!

Feb 07, 2010 07:25 AM
Not a real person
San Diego, CA

Just stopped by to let you, and anyone reading this, know that there's an ActiveRain Super Bowl Party going on. Stop by if you have a chance.

Feb 07, 2010 11:19 AM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

Thanks Russel- I was very late to the party but did bring along some beautiful cats that I borrowed from Patricia Kennedy. 

Feb 07, 2010 03:52 PM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

Thanks Russel- I was very late to the party but did bring along some beautiful cats that I borrowed from Patricia Kennedy. 

Feb 07, 2010 04:00 PM
David O'Doherty
Clayton, NC
Clayton NC Homes, Raleigh, NC

Katerina, sounds like some nail biting stuff, glad it worked out for all concerned.

Feb 08, 2010 02:06 AM