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When does a Short Sale bank only give U Sat Sun & Mon to Close Escrow?

By
Real Estate Agent with Keller Williams Realty EV (AZ) & Keller Williams SLC (UT) 629265000 & 7238507

 

Keller Williams Realty East Valley

When does a Short Sale bank only give you Sat Sun & Mon to Close Escrow?

 



Shanna Day TEam Calendar

Okay - this is the scoop.  Last Wednesday, one of the listing agents on my team called me and said she had a problem with one of her short sale listings.   She explained the situation...

  • Bank (we could guess which one probably)... had given us verbal approval at $125,000, but we waited and waited for them to extend the foreclosure date and send us the approval letter.   
  • They then countered at $135,000 - after having given us verbal approval at $125,000. 
  • Buyer refused and threatened to sue everyone top to bottom.
  • The Shanna Day Team Negotiator and I, The Team Leader both jumped on the phone and found out that the approval letter had been sitting in their file but they had let it expire before giving it to us then gave us the counter offer - $10k higher! 
  • After escalating it for 3 days straight, we got the Short Sale verbal approval again Friday and the Short Sale Letter Friday night (yes - at night on a Friday)
  • Short Sale Close of Escrow Date:   3 days later - MONDAY!   5 o'clock
  • So... we had to get utilities turned on Monday (our sweet inspector waited for hours for us).
  • We got it inspected, money wired, docs signed and it recorded at 4:59 PM! 5:00 

YAY!   Shout-out to Gail Wefer at Security Title in Phoenix, AZ who pulled it all together in one short day, Another Shout-out to Dan Weale, who is our tireless Short Sale Negotiator for The Shanna Day Team, shout out to Gina Gomez - the listing agent who wouldn't give up, to Carol, the Vice President of "the bank"  who helped us even on a Friday night, to the seller and buyer who made it happen on a moment's notice,  and to Terry Allen our patient and thorough Inspector who helped us through this at the last minute - literally.  

GOOD JOB SHANNA DAY TEAM!

 

Shanna Day’s Team, PLLC

 

Keller Williams Realty East Valley

 

2077 E. Warner Rd., Ste 110

 

Tempe, AZ  85284

 

Phone: 602-345-0393

 

Fax: 480-223-4299

 

info@shannaday.com   

 www.FindAZHomesFAST.com     

STOP FORECLOSURES, short sale


When does a Short Sale bank only give you Sat Sun & Mon to Close Escrow?

Posted by

Shanna Day Dream Home Team

https://plus.google.com/112829348058511259992

 

Comments (7)

Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Never heard of a super fast closing like this.

Only a good mix of professionals could of pulled this off: Good agent, inspector, escrow/title company and a little cash.

Well done!

Dec 03, 2012 02:38 PM
Shanna Day Team Leader AZ & UT - Call 480-415-7616
Keller Williams Realty EV (AZ) & Keller Williams SLC (UT) - Mesa, AZ
Top 0.33 of 1% of 79,000 AZ Realtors

You are right Pete - Luckily we had a cash buyer who will be an owner occupant and really wanted the home!   Thank goodness!  

Dec 03, 2012 02:48 PM
Cooper Jacobs
Looking For A Seattle Realtor? COOPERJACOBS.COM - Seattle, WA
Real Estate Brokers - Seattle

Keller Williams agents are truly gifted at what they do in the challenging World of real estate.

Dec 03, 2012 03:16 PM
Shanna Day Team Leader AZ & UT - Call 480-415-7616
Keller Williams Realty EV (AZ) & Keller Williams SLC (UT) - Mesa, AZ
Top 0.33 of 1% of 79,000 AZ Realtors
Thank you Cooper. That's one of the bid reasons I continue to stay with KW- it always offers more than I can possibly learn.
Dec 03, 2012 03:23 PM
Rose King
David Tracy Real Estate - Friendswood, TX
Friendswood / Pearland / Houston Bay Area

Good Grief, Shanna! Your team of helpers really made this one happen in record time! Any short sale with "the bank" (yes, we know who) usually drags on forever. Good job!

Dec 03, 2012 10:20 PM
Shanna Day Team Leader AZ & UT - Call 480-415-7616
Keller Williams Realty EV (AZ) & Keller Williams SLC (UT) - Mesa, AZ
Top 0.33 of 1% of 79,000 AZ Realtors

Rose - unfortunately it did drag on - but then whamo when the bank realized they had messed, up, they gave us literally "1" business day to close!   Goodness!

Dec 03, 2012 11:27 PM
Anonymous
Nancy Wittenberg

Impressive. I don't know many collegues who could have gotten that done, over the weekend too. Kudos to you!

Dec 04, 2012 12:44 AM
#7