Two failed Short Sales and it's only Tuesday!
It happens and you need to know that even the best Temecula Short Sale Agents have failed short sales.
These two short sales were set to close this week. Here's the short version of both short sale failures.
Temecula Short Sale #1
Approved and ready to close this week.Buyer's lender calls me. I know and trust this lender to not suger coat any buyer and he has given me the green light all through this Temecula Short Sale transaction. Buyer is currently renting and can't wait to close escrow. Lenders underwriter does a last minute review and finds that buyer had a issue with payments to the landlord of the rental REALLY! Yes this buyer has been delined for this reason. A landlord dispute killed it.
Approved Short Sale #2
Another short sale that is set to close tomorrow.Buyers agent calls me this morning very upset having to face me with the news that her buyer is canceling.She is so sorry her buyer has got cold feet the day before closing and will not wire the funds to close.
In both these short sales the seller's have just moved out of their homes.
This is bad news that upsets me and my short sale clients. I hate to have to make these calls. But all my clients hear it straight from me good or bad.
The good new is I have a backup plan and a great relation with my clients and their lenders. These homes will close.
I felt I need to write this blog to let future sellers know that short sales do and can fail. It's upsetting. But we can and do recover.Every short sale is different and all short sales require lots of work.You must have a short sale agent that will not not give up on you and your short sale. I am that short sale specialist.
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