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Is This the Smoothest Short Sale Closing or What?

By
Real Estate Sales Representative with Keller Williams Cornerstone Realty

Is This the Smoothest Short Sale Closing or What?

Wow!  I represent a cash buyer who is looking at a nice short sale very close to my office.  The listing agent says they had a buyer and the bank countered at X so we can get it approved quickly.  Haven’t we all heard that before!

My buyer loves it.  This house was better than many re-sales!  (Sellers had a family hardship after poring tons of money into remodel, A/C, roof, etc.).  I ask my buyer what she thinks.  She says "write up the offer!"

Does she lowball it?  Remember she is cash, and they think it’s is GOLD!  Nope!  She goes ~3% over bank approved price! 

Listing agent is good to her word and gets it approved in <2 months!  First and second mortgages!!!!!!!!!

Buyer forgoes inspections because home is so nice.

We are driving to closing wondering "can this really be that smooth?"  Closing goes almost without a hitch except seller package is enroute with UPS and expected by 3:00 PM at latest!  Closing at 1:00 PM.

Is This the Smoothest Short Sale Closing or What?

Or What!!!

I get a call from the listing agent!  Don't move in!  Don't release keys!

UPS grounded

UPS grounded the jet with the package and are scrambling to reschedule it.

Will the package be good?  Will dates now be off?  Have to go back to bank(s)?  To sellers?

A "Smoothest Short Sale Closing?"  THERE IS NO SUCH THING!

 

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Bob Miller (Keller Williams Cornerstone Realty): Real Estate Sales Person in Ocala, FL

Bob the Realtor

Keller Williams Cornerstone Realty

 

 

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Comments (7)

Kim Sellers
Lake Arrowhead, CA Coldwell Banker - Lake Arrowhead, CA
Lake Arrowhead Realtor - BRE#01412099 - Lake Arrow

We all know that if it sounds too good sometimes it is too good to be true.  But, there are those short sales that we have had that have been just that easy.

Nov 29, 2011 10:37 AM
Colin Call
RE/MAX Integrity - Eugene, OR
Principal Broker

So...Bob...How does the story end? Colin

Nov 29, 2011 10:41 AM
April Swenson
Coldwell Banker Ocean Shores Brokers - Ocean Shores, WA
CRS and Managing Broker - Ocean Shores Real Estate

Oh wow.....delayed because of a UPS plane grounded....unbelievable.  I had a short sale last year that was closed in 45 days....it was so smooth because my seller was on top of everything with the bank and made the process go quickly.  I highly suggest this to all sellers...stay on top of the bank and what they request.

Nov 29, 2011 10:43 AM
Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

Thank you all.  Colin, don't know.  Still waiting on UPS.  Hopefully tomorrow if dates on the package aren't a problem.

Nov 29, 2011 10:56 AM
Debbie Holmes
John L. Scott - Boise, ID
Gets the job done!

Well the deal should close.... that is a new one on me....

Nov 29, 2011 11:31 AM
Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

Thanks Debbie.  Aren't they all unique?  That what keeps this crazy business fun!

Nov 29, 2011 12:30 PM
Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

A happy ending!  UPS delivered the package this morning.  The short sale lender was fine with the late package as long as sellers dated and signed by closing deadline.  Funds transferred and my buyer has a new home!

Nov 30, 2011 11:26 AM