Recently, we have had 2 long, hard-fought short sale deals where we went to war per se to get the deals approved. With diligent follow-up and negotiation and up against a deadline on both deals, the great news is that we got both deals approved ! Woo hoo !!! Wait, wait... the buyer is no longer interested ?? What ??? Thanks for telling me now buyer agent. How long have you known this ?? This is 100 percent different from our conversation just one week ago.
One deal was approved within our contract time-line and the other deal was a few days after-wards. So at least in one case the buyer is in default. But more importantly than that, what about the time lost for each of these sellers ? Each deal took approximately 3 months to get that short sale approval. What are these buyers thinking ?
Is this a trend ? Are others seeing this in their markets ? I hope it is just an isolated case for us.
The good news for us is that our streak of every short sale listing we have taking on has received short sale approval. We will continue to work hard to get new buyers for these properties to maintain our streak of having every short sale listing go to settlement too.
I guess it goes back to that saying for these "remorseful buyers"..... BE CAREFUL WHAT YOU WISH FOR !
Please share similar experiences or what your thoughts are in regards to this situation.