Short sale delays....I could write a book about this one!!! But let's make it nice and brief since it has a happy ending!
We as realtors all know that a short sale can take MONTHS before there is a meeting of minds and the lender agrees to the price. Once that is done things have to be closed within a specific timeframe. Well, one of our short sales has been a typical short sale....problem after problem, delay upon delay.
Last week it looked as though the lender holding the current mortgage would not extend the closing date beyond the 16th of this month. The purchasing lender led everyone to believe that they could not get their act together before the end of the first week of January!
Back and forth - we all know the scenario! Phone calls, faxes, e-mails and more of the same. Round and round we go and where it stops nobody knows!!!!!
Well, suddenly the purchasing lender could get things done by the 29th of this month since the lender holding the current mortgage said it will close THIS YEAR and get off their books or they will just foreclose on it! That was what it took!
The next thing was getting the LETTER committing to that extension from the lender holding the mortgage.....more phone calls, faxes and e-mails....... Hey, guys, it is Christmas! Can we get our ducks in a row!!!!
Well late yesterday the final fax came through to the title company!!!! Horray!!!! So we are all set to close this coming Monday and everybody has all the paperwork they need! It will be a great Christmas for both families involved and I am pleased as punch that this all FINALLY came together!!!!
The joys of being a realtor !!!!!!!!!!!!!!!
Merry Christmas to All!!!
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