Who Says Short Sales Have to Be Torturous?

By
Real Estate Agent with Keller Williams Realty Boise SP23054

This is a rave: this morning, I attended the closing of a house I listed just 34 days ago!

Short Sale in Boise Idaho- SOLD!

Everything on this transaction went smooth as silk. I received a referral from Keller Williams in Coeur d'Alene, Idaho for a short sale listing.

Boise Real Estate Referrals

I met with the sellers, who had to have been some of the nicest people I have ever worked with. We had showings immediately and multiple offers and best of all, the best offer was a cash offer with a quick closing. Once the offer was submitted to the bank (GMAC), I had a call from the agent that would be doing the BPO within one day. The BPO was back at the bank within a couple of days and I was notified that the negotiator had the offer and BPO and that I could expect a response within 7-10 business days. I was thoroughly delighted with that turnaround as I had just endured a protracted, months long process with a different bank (that shall remain nameless). Lo and behold! I received an email from the bank (the same day I was told it would be 7-10 business days) that I had approval!

My faith in banks has been temporarily restored. The process doesn't HAVE to hurt, people don't have to grow impatient and threaten to walk, repeated calls DON'T have to be made. A hearty thank you goes to GMAC for the incredible way they handled this transaction, to the agent that performed the BPO in a timely fashion, to the sellers for being so awesome to work with and to the agent that referred the great clients!

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Comments (7)

Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Leslie, Congratulations on your successful closing. Some banks are very easy to deal with because they have a process and system in place that allows them to provide quick responses. Some banks continue to work on it.  Again, congratulations!

Jul 14, 2009 04:16 AM
Leslie Hampton
Keller Williams Realty Boise - Eagle, ID
Realtor, Boise and Eagle Idaho Homes

Thank you Kathleen! The thing I don't understand is why some of the larger banks aren't streamlining their processes and/or hiring more personnel. They have to be LOSING money because buyers are walking and because prices are still trending down in many areas.

Have a great day!

Jul 14, 2009 04:22 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Congratulations. Keep up the good work! It would be nice if every short sale listing story had a happy ending.

Jul 14, 2009 04:22 AM
Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

Hi Leslie;

Congratulations on your closing. Great job and I must say I wish you many more.

Jul 14, 2009 05:00 AM
Brian Brumpton
Keller Williams Boise - Boise, ID
Boise Idaho Real Estate

Leslie,

I like working with GMAC as well.  They have been very responsive.  There are a few on my list that are really difficult to work with Chase and Countrywide are currently tied for first.  Congrats on a quick closing!

Jul 14, 2009 05:12 AM
Leslie Hampton
Keller Williams Realty Boise - Eagle, ID
Realtor, Boise and Eagle Idaho Homes

Roy, thank you. My story just goes to show that there can be happy endings in short sales after all! Good luck to you.

Anthony, thank you. I want to have many more as well, and the same to you!

Brian, GMAC is great and I agree with your assessment of the other 2. Thanks for the congrats and the same to you- I know you have been very busy. Good job! :)

 

Jul 14, 2009 05:17 AM
Janna Scharf
Keller Williams Realty Coeur d'Alene - Coeur d'Alene, ID
Coeur d'Alene Idaho Real Estate Expert

I just closed a short sale in about 9 weeks from start to finish with Chase.  It was a breeze!  Why can't they all be like that?  Give Brian Brumpton a hug for me!

Dec 20, 2009 02:20 PM