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WAITING FOR THE BANK TO PICK UP, 74 MINUTES LATER?

I was in the office working on a listing and decided to call the bank on one of my short sale listings. I put the phone on speaker and listened to the music as I waited and waited. My phone has a timer, so I went about my business listening and waiting. After 74 minutes SOMEONE with a PULSE picked up the phone and asked me if they could help me? I forgot who I called at this point? What really amazed me was after I got it together and asked if they received my Documents they told me no they didn't see them in the computer. I needed to re-Fax the Docs and wait 5 days to call them. (Some one scans them into the computer, you cannot E-fax them to this company).

Recap- fax docs wait 5-7 days and call and wait over 1 hour to be told to re Fax docs again?

This is crazy, I am trying to learn as much as I can with these Short Sales but every bank seems to have a different system? Am I the only one feeling this type of pain?

Posted by Darin Haughie on 10/17/2008 07:10 AM

Comments (11)

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11 Comments on WAITING FOR THE BANK TO PICK UP, 74 MINUTES LATER?

OCT

2008

Unfortunately this is not an isolated incident. Most of these departments do not have enough people to handle the volume of calls coming in. While some improvements have been made at some companies, there is still a long way to go.

Wow, that is crazy. I have been fortunate so far and have not had to deal with short sales but I have a feeling I need to keep reading as much as possible about them because they seem to be creeping up more and more lately.

Jenn, short sales make up about 25% of the Miami inventory so i had to get on this frustrating train!

I'm so sorry, but I got a chuckle out of this.......Seriously I feel your pain but it made me think of a old comedy line I heard years ago. I don't recall the author but it went something like this: "Thank you for calling _____________. Your call is very important to us, so please continue to hold while we ignore you."

Good luck in your short sale!!!!!!!!!!!!!!

You are by no means alone. And yes every bank is different but the same! that's about how much sense it makes how they handle things. The volumes they are handling are overwhelming to their departments. And here's the thing - they get paid whether they fix or help you or not so it's no big rush to them! At least that is my opinion. I don't think they are getting a bonus for their work - it's a 9-5 job that they struggle through and that tends to not put them into any kind of going beyond the norm to help someone. It is very frustating - but hang in there. You'll find an in and get your foot in the door somehow and get your answers. If you get a system of consistancy it is much easier. Learning all the details they need up front and making sure that you do have everything they request - and I mean everything and it is all properly filled out - otherwise - they kick it to the back again and well you sit on hold for 90 minutes rather than 74..... patience is a virtue..... so they say!

Darin...
Short-sales are n othing but a pain. They make our lives miserable, and then cut the commission at the last minute!

Darin, Yes short sales are out there. We really try "NOT" to show any, only if a buyer asks to see it...way too challening!

This is so inefficient. It like they are trying to balance a bunch of plates and they hope that none fall off.

We didn't get your fax is the standard answer they give when I call about short sales. It is important to document every conversation with them, be it phone, fax or email.

Wow 74 minutes. I think I waited up to 45 minutes one time. I think there is probably a way to email them the documents also, depending on the lender.

I always block out about 2 hours to deal with banks. It usually takes me about that long! I always ask if I can work with 1 person and e-mail them. Good luck!

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