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Crazy Bank Request During Wells Short Sale

By
Real Estate Agent with Group 4610 Network

Fred is hanging out with Kevin Lancaster Willson today with a Forgettable Friday story about those crazy banks. He's doing short sales in a part of the country where short sales aren't rampant.

He recently had a short sale with Wells Fargo and borrower was deceased. So the property was in probate. The bank made a financial request for financial information for the executor of the estate, who isn't even on the promissory note. The negotiator had to speak with a manager about it to see if she could proceed. Finally the bank realized that they are crazy and the short sale moved forward.

If you have real estate needs in Greenville, SC, please talk with Kevin. You can find him at http://www.greenvilleshortsaleblog.com/

Do you have short sale questions? Read the Short sale FAQs.

Are you a Realtor? Then get free short sale training from Kevin and Fred at Free Realtor Training on ShortSalePowerhour.com

Danny Frank
JLA Realty - Pearland, TX
The Pearland Real Estate Expert

In Houston TX, only about 4% of all the listing are short sales... So much work for such little reward...

Mar 18, 2011 02:58 AM
Kevin Kauffman
Group 4610 Network - Tempe, AZ
Kevin Kauffman

Sounds like a pretty selfserving comment..  Tell that to the person who just avoided foreclosure...

Mar 18, 2011 05:47 AM
Jeff Payne
The Payne Group at Keller Williams Success Realty - Panama City, FL
Panama City Real Estate
Such little reward? The reward is much more than a financial gain to me, the reward is being able to help out a family in financial distress.
Mar 21, 2011 06:32 AM
Tiffany Torgan
Harcourts Prestige Properties of La Jolla - La Jolla, CA
Featured on HGTV's New Show! How Close Can I Beach
I agree with Jeff! I don't specialize in Short Sales, but it felt great to help one of my dearest girlfriends last year aviod foreclosure with Bank of America! I also have been able to help countless of Agents across the country who are stuck on a B of A deal:) About 65% of our sales in San Diego County are short sales or REO's! So learning from SSPH is a wonderful tool for Agents!
Mar 21, 2011 07:28 AM
Paul Gapski
Berkshire Hathaway / Prudential Ca Realty - El Cajon, CA
619-504-8999,#1 Resource SD Relo

Well sometimes i dont know what to think of short sales. They are getting better and then they are not!

Aug 06, 2011 04:13 AM