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 challenge. Did I do the right thing? I think so. It took $2800.00 away from my check and of course the company but what would have happened should it not have closed, in my opinion would have been far more costly and damaging. Asking the selling agent to help to me was never an option. She did her job and in fact was the glue that held this deal together and her Broker received a nice letter about how she handled everything. She deserved the letter and every penny she got paid.
So now there's no foreclosure, no REO selling for way under market value and a very happy buyer. Will I ever get the $2800.00 from the seller? Who knows. That what Broker's are for, to deal with things like that. I'm happy and content about how things ended and I truly believe that something good & positive will come from all this but the bottom line is that someone was helped and at the end of the day, isn't that really what is most important?
Have a great week everybody!