This post was writen in response to Real Estate Agent Michelle Way of Jackson , MS " Short Sales ". I just had too much to discuss on the suggestion from a Loan Originator that a Real Estate Agent is the one who orders the appraisal in a short sale. I never heard of this in Southwest Florida in Fort Myers or Cape Coral
Laguna Lakes
Even if the seller is willing to pay for the appraisal it does not mean that the bank's appraisal will be the same. I think that this Loan Originator is just trying to pass the buck to someone else.A s if the sellers are not hurting enough!I have been involved with short sales which went quite fast.The acceptance to the offer was done in 3 weeks or less. I also heard that Countrywide is changing their tune and making the whole process more friendly and faster. Still it may take from one month to 3 to close after acceptance. Wells Fargo may take longer.
We also know that all this depends on how prepared the agent is and what relation he or she has with the lender. They sometimes loose the whole short sale package and it is recommended to call 24 hours after your short package is faxed or sent the loss mitigation department or whomever is in charge of short sales and make sure it arrived in the right hands. Often it gets lots in the shuffle.
In brief: stay in contact with the listing Agent after you made your offer or if its your listing call regularly to make sure BPO's or appraisals are ordered and developp a relation with the Bank negotiator or the Loss Mitigation Officer.Who said that it was easy? With a bit of patience they are worth the wait.
Here are a few interesting short sales in Southwest Fort Myers: View Listings
LLoyd Nichols
Right Choice Realty LLC
6360 Presidential Court, Suite 4
Fort Myers, FL 33919
cell: 239-810-2980
Fax: 239-463-4826
home office: 239-463-5217
Active Rain Blog: http://activerain.com/lloydn
Website: http://www.mlsouthwestfloridahomes.com
Website Blog: http://ftmyershomesandgardens.blogspot.com/
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