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Miracles Can Happen - Even in Short Sales - 15 Days from Submission to Close!
We all have a listing that seems to linger. Despite over 30 showings this 2 unit just could not get an offer. Yes, it needed work and the fact that it was vandalized while I had it listed did not help. I continued to drop the price but after the initial interest no showngs for weeks until the next price drop.
But as they say there is a buyer for every home, we finally had an offer. Cash since with the all the repairs and the low price finding a mortgage would have been an even harder hurdle to jump.
I was not looking forward to the final obstacle, this was a short sale but not only a short sale, it was an investment property!
I prepared the over 60 page short sale package. I included current comparables, market trends and an overview letter indicating the seller's current situation, no job, a primary home he was trying to keep, a home that needed extensive repairs and all the backup documentation that the lender required.
Was I ever surprised when after only a few days, I received acknowledgement that they had received the short sale package. I called to confirm and ... more
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