Wachovia Walks on Water?!
Well, you might think so after seeing what they do with their Orange County short sales.
Today, I spoke with a client about selling their home as a short sale. During our discussion, I learned that Wachovia is their lender. This is actually great news for a short sale seller in Orange County.
WHY?
This is great news because Wachovia has a great new program for its Orange County short sales.
- Local Wachovia representatives will meet with the seller and their agent to gather information.
- Wachovia will quickly order an appraisal or broker price opinion (BPO).
- Wachovia will have a response to a short sale request in 7 to 10 days.
- Wachovia will provide a "net" proceeds amount without need for an offer.
Why is this is a big deal? There are several reasons.
- Most lenders won't consider a short sale package until a purchase offer is received.
- It can take four months or more for some lenders to respond to an offer which can result in frustrated buyers, sellers and agents.
- This gives sellers closure quickly.
For more information on short sales, see:
Short Sales and Foreclosures in Orange County, CA
Bankruptcy - How Does it Effect Short Sales and Loan Modifications?
Click for a free list of Orange County foreclosures or a free list of Orange County short sales or e-mail Me!
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About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.
Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? Contact me at christine@donovanblatt.com or 714-319-9751 to discuss your options.
For more information, please visit Newport Beach real estate. For more information on Newport Beach homes or the value of a particular home please visit Newport Beach home values
Want to buy a home or to list your property for sale in Newport Beach, Costa Mesa, Huntington Beach or Orange County? Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.
Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. This blog is not intended to offer any legal, tax or other advice.
Copyright © 2009 by Christine Donovan. All rights reserved. Wachovia Walks on Water?
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