Short Sale - Finally Closed After Nearly 15 Months! HOORAY!

Melissa, Yes, this one was full of drama - 2 buyers, 2 short sale negotiators and 2 VA appraisals ordered by the sellers VA lender. It dragged on forever.

Roy, Thanks for the well wishes.  They are greatly appreciated.

Ernie, We got the first buyer that hung around for a couple of months, got an approved price, the buyer walked. Then we kept getting interest in the property but not near the previously approved price. Then finally got the second buyer who waited for over 7 months for the short sale lender.

Bruce, The buyers agent and the buyer in this transaction were both wonderful to work with.  That helped so much. You asked how much for a home with a view like the last picture...good question.  It's beautiful, isn't it?  So many different variables to take into consideration.  If it's a townhouse or condo could be anywhere from $350K to over $600K.  For a home, it depends on the size and age of the home, could be anywhere from $500K to over a million.

Rob, It can be incredibly frustrating.   The sellers were relocated to another state and had purchased another home, so they were amicable in getting this one sold.  It helped that they weren't sitting around here waiting for the short sale to be finished.

June, It was a lot of time and wasted money.  These short sales shouldn't be taking this long. I hope with the new laws we see a drastic change in the time frames they are taking to get to closing.

Mary, All parties were patient, that's the only thing that held this one together.  I have a good bit of my hair sitting in a glass jar on my desk.

Paul, It can be painful when you lose a buyer. We lost the first buyer on this one. But, we gained a second buyer that hung around for the long haul.

Paul, Thanks, I appreciate it.

John, Unfortunately the short sale negotiators play by their own set of rules, whether they make sense to the rest of us, or not. It is what it is.

Myrl, 15 months is ridiculously long, isn't it?  I don't know why the short sale lenders choose to drag their feet. They are losing so much money every single month on these properties.

Caren, Thanks - sometimes you just have to hang in there.  Lots of rain for you, uh-oh.  We haven't had very much. Lots of threats for rain, but very little overall.

Kevin, It would be depressing to figure the hourly wage on this one, wouldn't it?  I have to get it to closing to recoop my expenses and my losses.

Debra, Bring it on - a party sounds like a wonderful thing right about now.

Vienna, These short sales can be incredibly mind boggling sometimes, can't they?  We just have to hang in there and be patient.  And if we've got the seller, we've got to call the short sale lender regularly and be nice. The squeaky wheel does get the grease.  I wish I could tell you that I'm near the New Port Richey area, but it's out of my area. I'm in Brevard County.  Thanks for considering me for your referral.

Gabe, Thanks. This buyer was incredibly patient and he was working with a great agent. I was surprised that he hung around as long as he did.

Hey TO, I agree - I can't believe how long a short sale takes either. As I mentioned previously, I hope that the new short sale guidelines help alleviate some of the long wait times on these properties.