I swore that I would not write another blog post about what a pain in the #@**$ it is handling short sale transactions! Most posts, essentially, all address pretty much the same issues:
No continuity or practicality in the process itself No discernible organization or efficiency in the way banks handle the files No "live" people to talk with when you need one! Disappearing paperwork... that disappears AFTER a bank representative (who disappears themselves soon after that!) tells you that "Yes! We received your fax!" Banks transferring their files to other banks to handle due to the overwhelming volume of short sale … (8 comments)
short sale crisis: ANALOGY FOR A "SHORT SALE!"
- 07/10/09 02:12 AM
Short sales... Wow! Historically, in Real Estate, there have been few topics of discussion that would compare to the subject of "Short Sales." Recently, in our office, we were discussing a particularly "sticky" frustrating, time consuming, and labor intensive short sale transaction that we are working on. We were reminiscing about the days when closing a transaction meant: writing a contract, negotiating that contract, getting signatures on all the paperwork, and following normal processes like financing approval, ordering inspections, etc. Not to say that there were no bumps in the road with these "normal" transactions... there certainly were! But we REALLY … (4 comments)
short sale crisis: PROACTIVE, POSITIVE CHANGE... FROM WELLS FARGO?
- 05/30/09 04:36 AM
We spoke with a customer service rep from Wells Fargo last evening regarding one of our short sale transactions. In the course of the conversation, the rep informed us that from now on... when we list a short sale property and submit the 3rd party authorization with the listing information, they will immediately order the BPO so that when it's completed, Wells Fargo will be able to give you their bottom line $$ for acceptance. This is great news and helpful in knowing where the property needs to be priced for realistic offers that the lender will accept. It also shortens … (4 comments)
SHORT SALE BANKS BLOCKING WAY OUT OF FORECLOSURE CRISIS!
Why are we all (Real Estate professionals) sitting in the bleachers... waiting for the refs (FEDS) to mediate the game (Banking Short Sale & Foreclosure Processes) when it is very clear to see that this game has been fixed!
Wake up and smell the .... (maybe that's not a good idea!) Well at least... WAKE UP!
WE NEED TO DO SOMETHING COLLECTIVELY PEOPLE! Our team has formed a new group on … (0 comments)
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Bradenton, Sarasota, Real Estate ~ The Serena Group
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