I was on the phone with my client "breaking the bad news" because the 3rd offer we had submitted on a foreclosure had been turned down. Not only did it get turned down, the agent told me "the asset manager" had told him, CASH ONLY from that point on!
Another agent in our office came to me and said she happened to overhear our conversation and was this the same transaction that I was having problems (which is an understatement) with earlier? I told her yes and she asked me to give her all the details. So I did. In a couple days, she came back to me and told me she had a proposition. She had an investor (cash bucks $$$$) and if he purchased the home, would my client still be willing to purchase? The contract, would be contingent upon her client purchasing the home, of course. The investor also wanted more earnest money down than the original seller. ALSO, we needed to make sure my client's lender was agreeable. I told her that it sounded like "a plan" to me however they would have to decide. You know the old saying, "Three strikes...you're out!"
The client agreed and I wish I could tell you he was "ecstatic" however at this point of the game, he was very DOUBTFUL! I contacted the agent and we put the P&S together. So, the wheels get in motion!
Very good ending to this L-O-N-G D-RA-W-N out transaction. The investor purchased the property, turned it around in a very short matter of time and SOLD the home to my client! We all go to a CLOSING and get paid that sweet word called "COMMISSION"!
I want to say and also "THANK" that agent for "tuning in" and making a dead deal come back to LIFE! As the old saying goes, "there's more than one way to skin a cat!" Just an expression, cat lovers! ;-)
Everyday there are "opportunities" that await us...all we need to do is open our eyes, our ears and most of all, our hearts!
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