Unreasonable demands. It would appear that today is filled with unreasonable demands. Part of that is because I am a Sacramento short sale agent. Yeah, I know, nobody forced me at gunpoint into this profession. I chose it willingly, walked in with my eyes wide open -- I wasn't blindsided. Still, doesn't mean I can't yip about it.
The root of the problem is often two-fold. Either a person isn't thinking straight -- and let's face it, nobody says a bank negotiator has to think to stay employed; they don't pay them to think -- or a person is uninformed. In some situations, it's better to just give in to the demands than to fight discuss.
Keep the big picture in focus. The big picture is closing the transaction. A seller told me this morning that it might be better to let a short sale go to foreclosure than to print out four pages of a bank statement. That's because this is a Wells Fargo short sale, and this is the sort of stuff they demand. It's also a Wells Fargo bank statement we're talking about.
You would think the negotiator, who requested the July statement, would see that all of July and part of June is on page 1. She already has the previous statements. But she is demanding all 4 pages, from July to March. This is causing difficulty for the seller because she is unable to access the banks statement herself. Of course, this is the very last document the negotiator needs before submitting the file for approval.
On the other hand, we are down to the wire on closing another Sacramento short sale. The buyer completed his final walk-through and signed a Verification of Property Condition (VOP). This is a buyer who is not very well managed by his agent. The buyer has had his own lion's share of difficulty in understanding how the short sale process works and his role in this short sale throughout the entire process. That's because the buyer's agent, for whatever reason, appears unable to convey information to the buyer.
But you would think the buyer could read the document he signed. In this particular case, the buyer is demanding that the seller make repairs prior to closing such as installing doors that are in the garage. A VOP says the home is to be delivered to the buyer in the same condition as when the buyer first viewed it. Those doors did not jump off and run out to the garage during this time period. A VOP also says it is not a contingency of the purchase.
You can be right in your thinking. You can be dead right. But being dead right doesn't mean a transaction will close. Ya gotta pick the hills on which you wanna die in the short sale business. My mother used to say these are the kind of people who will cut off their nose to spite their face. I deal with these types day in and day out. This is the world of Sacramento short sales.
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