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Deals that are about to close..

By Pedro Gonzalez

Real Estate Sales Representative with REALTY EXECUTIVES

June 17, 2008 05:57 AM

Ok AR community this is your chance to shout out about what is going on with some of your deals that are about to "close" I say this with the outmost respect. We all know how trying these times have been and now it is up to us to share and help each other if we have solved any of these issues. Please share your situation and maybe other fellow AR members will help you solve your issues.

I'll explain a couple of mine.

I have a deal that is FHA in escrow for over 60 days now thru Countrywide. They had told me that FHA was taking longer than ever to start the process and work on files. I come to find out that that is not the issue, I don't know if Countrywide is overloaded with files or if my lender is not stepping up. Does anyone have any suggestions?
The secon is a client that was very motivated to buy and now is getting me to jump thru hurdles to get it done, this guy makes over 75k per year buying a 220k house and says he is trouble coming up with a 350 dollar appraisal?

Anyone out there have similar situations? Can give me ideas or want to share their problems?

Pedro Gonzalez

www.VipTopTeam.com

MasterMindGroup <------- Great way to share ideas and grow!

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Michael Wayne Jackson

Coldwell Banker - Novato, CA

Broker - Seniors Real Estate Specialist Novato

I currently have a never ending short sale with ciit mortgage. The have had the file since March and to be in June with no answer is beyond ridiculous.

Jun 17, 2008 06:06 AM

Andrew Baumbach

Homestead Realty Inc. - Milwaukee, WI

Greater Milwaukee Real Estate

I have 2 lined up for the end of this month, both running smooth.

however i have one scheduled to close 5/28 then moved to 6/4, then moved to 6/18 and now move again till the 27th. Problems on the sellers end with the deed. It's a REO sale and the Attny the bank hired mailed in the deed from the Sherif's Sale with the wrong banks name on it. I still don't know if it will close by the end of the month, but i do know my client needs a place to live since his lease is up and the apartment he is living in has a new renter moving in July.

FRUSTRATING!

Jun 17, 2008 06:09 AM

Oh yeah I forgot, I have a short sale too, scheduled to close in July. Sent everything out in May and still no answer.

Jun 17, 2008 06:10 AM

REALTY EXECUTIVES - Chino, CA

Andrew have you tried to send in NTP

Jun 17, 2008 06:11 AM

Brenda Dugan

Century 21 Heritage Sales, Inc. 770-363-3744 - Powder Springs, GA

I had a similar experience with a lender (broker). They had my clients case for 6 weeks. We had a few different closing dates that never materialized, the lender was not sure how to handle my clients previous bankruptcy, etc. I stepped in on my buyer's behalf and said, "enough is enough". I told my buyer to request the FHA case # from them and I turned her case over to a very capable lender at Suntrust Mortgage. We closed 6 days later! Obviously the lender makes all the difference, but as realtor I'm always trying to make wise judgement calls.

On the appraisal fee: They may need to borrow the money from a relative or friend or you can agree to pay half and make it a preclosing gift?

Jun 17, 2008 06:30 AM

Aida Pinto

Independent Real Estate Broker - Los Angeles, CA

Real Estate Broker (562) 884-6196

This is why I do not do "short-sales"!

Jun 17, 2008 07:29 AM

ADT-Millennium Alarms Systems - Pico Rivera, CA

Home Security Systems- ADT authorized dealer.

Yeah I can't stand short sales, they are a bunch of mumbo jumbo. To top it off there are alot of agents that don't know what the heck they are doing out there.

Jun 19, 2008 07:22 AM

Comments(7)

Pedro Gonzalez

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