Springfield Short Sale Closed | Patience Does Pay Off
Taking on short sales several years ago, I knew it would be more work than a regular sale. But when you are working short sales you become involved with the tension and stress the sellers experience.
This particular sale was a divorce situation. Once we received an offer, I was able to have both sellers sign the offer. Since the home was only in one owner's name, getting the paperwork was much easier than tracking both parties down.
In the meantime, the buyers impatiently waited for the FHA loan to be approved. We had to extend the contract at the last minute and a few days before the contract expired, we received loan approval. Another hurdle over, but the buyers threw a cog into the deal. Instead of getting a loan, they decided to pay cash for the home. Informing the lender of this, they stated we would have to renegotiate, since we had asked for closing costs. NOOO!
Getting the buyer to understand they would lose their seller concessions and not close on time, they finally had their banker call so I could explain. We had the banker give a loan to the buyer, using the buyers funds as collateral, and closed last week.
Not before the inspection revealed the roof needed replaced and the buyer asked for repairs.......knowing they signed an addendum stating there would be no repairs. Thankfully, the seller was able to have her insurance pay for the roof replacement and her parents helped with the small repairs.
We now have a seller thankful we overcame all the problems. Another Springfield short sale seller saved from foreclosure. YEAH!!!!!!!
If you are a distressed Springfield Mo seller, we successfully save Springfield Mo short sales......patience does pay off.
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