Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.
Short At Closing. Did I do the right thing?
I had one of the toughest deals in my 11 years in the real estate biz. My listing was actually in foreclosure when I received the full price offer. Holy cow, this was indeed a miracle. That was in February. The seller's out of state and the clock is ticking on the foreclosure.
Closing is set for April, then May, then June. The seller was going to be about 15K short. No time to try and work a short sale without losing the buyers. The seller manages to get an advance from his company (a major home improvement store) and he sends in two wires. Only one problem. One wire never shows up.
We're two days away from closing, the lock is about to expire, the buyer's are chomping at the bit, especially since they have taken occupancy (they were from out of state and had no place to stay). To me the answer is obvious. I emailed the title company and without blinking an eye I said, take it from the listing side and get this closed, end of discussion.
It closed, finally last week. It's done, it's over and I am so ready to move on to the next ... more
Are you on The Rain? Grow Your Network!