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Why an Estimated HUD is Not a Final HUD and an Orangevale Short Sale

By
Real Estate Agent with Elizabeth Anne Weintraub, Broker DRE #00697006

9127 Suzette Court, Orangevale, CA 95662Unlike sellers who can choose which Sacramento short sale agent they hire, as an agent, we can't always choose who we get into a transaction with. Sometimes we get stuck with real doozies. When that happens, I try to tell myself that other people are basically innocent. They are only doing the best to which they are capable of doing. Plus, if I am not being helpful, why am I in the business?

A negotiator yesterday for LBPS emailed me to say she needed the estimated HUD to show "Final" instead of "estimated." We don't yet have the short sale approval letter. We don't yet have the buyer's loan docs. We are still negotiating. Not to mention, there's that sticky little federal law that says no can do.

Every morning I look forward to my day as a Sacramento short sale agent. As such, I simply cannot wait to find out what fresh new hell lies in store for me because every day, without fail, it arrives. And just so you know, that fog doesn't roll in on little cat feet.

No cats at this new listing in Orangevale, though. You will, however, find fenced dog runs. This is a 3 bedroom, 2-bath ranch home, built in 1979. It has a circular floor plan to the entertainment area so, if you did have pets, they could chase each other, around and around. When you walk in the front door, to the right and down the hall are the bedrooms and baths. To the left is the living room with a fireplace. Slightly to the right and straight ahead is the family and dining room. Slightly to the left and straight ahead is the breakfast nook / pantry, and the kitchen joins these two areas together.

The floor in the kitchen is slate. The breakfast nook area has ceramic of 3 different sizes laid out in an attractive pattern. The sellers also built a very nice floor-to-ceiling pantry, which is attached as a fixture. There are four doors. Plenty of storage.

Another unique feature is this home has two garages. One garage is attached to the home. It has a door opener, laundry hookups, and you can park 2 cars. In the back yard is another garage. This garage is detached and newer. You could park 4 cars in this garage. All together, parking for 6 cars.

The home is situated on a cul-de-sac and .21 acre. It could use a little bit of TLC, mostly flooring and walls, maybe some pest, and probably will not pass FHA financing.

9127 Suzette Court, Orangevale, CA 95662 is offered exclusively by Lyon Real Estate at $149,000 as a short sale. For more information, call your Sacramento short sale agent, Elizabeth Weintraub, at 916 233 6759. For a private showing, call Barbara Dow at 916 761 7398.

Photos: Elizabeth Weintraub

9127 Suzette Court, Orangevale, CA 956629127 Suzette Court, Orangevale, CA 956629127 Suzette Court, Orangevale, CA 95662

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

Comments(5)

Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Elizabeth - My husband would love to have a six car garage and since we don't have basements I'm right there with him.  This sounds like a great listing.

Jun 23, 2011 03:32 AM
Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Sometimes the lender will approve the estimated HUD but when they get the final HUD 24 - 72 hours before closing they reneg.

Jun 23, 2011 04:04 AM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Elizabeth - Just had this conversation today about the difference between "estimated" and "final".  Geez, you would think the words themselves would make the document self explanatory.  Such is life for a Los Angeles & Ventura county MLO. 

Jun 23, 2011 11:36 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Most of us don't have basements in California, either, Michelle. If we do, it's an icky and scary place.

Hey Dave: I have not had a lender reject a final HUD unless something changed. They haven't been renegotiating, so maybe I've just been lucky. I have a lucky cloud that follows me.

Hi Donne: So, it's not just that negotiator who is confused then. That's good. I don't know where they find these people -- they aren't people who are from the industry. Maybe they're people who once worked at British Petroleum? I mean, what are the qualifications to be a negotiator? Wait, I know . . . must be able to read English without moving your lips or tracing sentences with your finger.

Jun 23, 2011 11:51 AM
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"
Elizabeth - That is really funny about the negotiator. You aim to please and do what you have to do in the short sale world!
Jun 24, 2011 12:54 PM