Is there any such thing as a typical short sale?  From what I am hearing the typical short sale goes something like this:

"Submit offer package to lender and wait....By the time the lender gets back to you with good or bad news, the buyer has moved on to another property".  Sound familiar?  Exactly!

This is why I call mine "Not Typical" for the following reasons:

  • IT CLOSED ESCROW!!!!
  • The GMAC (Homecomings Financial) Loss Mitigation individual I had was FANTASTIC!!
    • They return phone calls
    • They approved the sale obviously
    • They granted us 2 extensions (10 days total) while the buyers lender got their act together
    • They put the Trustee's Sale on hold while we tried to get it closed
  • The buyer acted in good faith

Hopefully mine is not the only success story.

 
Post is included in group: Realtors®
Post is included in group: Everything California
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Post is included in group: California Short Sales, REO's, and Foreclosures
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8 Comments on Not Your Typical Short Sale

JUL
08
2008
1 Featured Post

Hi David,

In my experience, short sales are ALWAYS crazy!

Happy Selling!

Christina

1:42am • #1

Christina - That's what I have heard too.

1:43am • #2
347,329 Points Outside Blog

Oh my - that is good news. We have one that we have been waiting for 8 + months to get the lender to say what they will do.

2:40am • #3

Bob - Please tell me you meant to say "weeks" not "months".

2:48am • #4
286,903 Points 4 Featured Posts Outside Blog

In my experience every real estate transaction can be crazy! Its always something near the end it seems. Short sales are a pain.

6:52am • #5
275,417 Points 14 Featured Posts Outside Blog

David: My take on Short Sales: grrrrrrrrrrrrrrrrr!

 

10:17am • #6
JUL
10
2008

Laura it did get crazy at the end!!!

Kat is feisty!!

Christine - Thank you!!

1:47pm • #8

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David Bennett Yorba Linda Real Estate

Yorba Linda, CA

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Tarbell, Realtors

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