Successful Short Sale 62 Days Start To Finish

By
Real Estate Agent with Fred Real Estate Group

Today was the day - 3 days early the bank acceptance gave us till the 19th.  We wrote the offer just 62 days ago on a great Short Sale property in Sunriver. 

It is amazing what team work, a great lender and a motivated buyer can do to get a property closed.  We offered full price, we had our ducks in a row, pre-qualification letter, proof of funds for the down payment, the necessary addendums and got it all submitted.

On February 2 the bank came back with the approval.  Keep in mind that the 15th was a holiday and they only gave us till the 19th to close on a purchase with a loan. The lender was called, the home inspector, and the buyer - the buyer was instructed we had to move fast - because if we did not close by the 19th the home would foreclose on the 26th. 

Lender ordered the appraisal - the appraiser got there in 2 days, along with the home inspector - and WELLS FARGO - you rocked - you went from 0 to funding in just 14 days including a holiday.  I could not ask for better, your service.

For those of you that think short sales are a pain - I hope you continue to think that - it leaves more business for me.

Comments (9)

Jared Hokanson
Hokanson Realty & Jared Realty Group - Medford, OR
Your Home Sold, GUARANTEED!*

Nice work Thesa, congratulations!  Lots of short sales close within decent timeframes, and I think yours shows a decent timeframe from submission to approval for all of the doubters out there.

Feb 16, 2010 04:57 PM
Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Congratulations Thesa! I love those short sales that are really short sales, :) Katerina 

Feb 16, 2010 04:57 PM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Now that is something.  Congratulations job well done and the bank needs to be commended.

Feb 16, 2010 04:58 PM
Sidney Kutchuk
Property Management & Sales at REALTY WORKS TEMECULA, CA 92590 (951) 217-6745 - Temecula, CA
Property Management & Sales Experts 951-217-6745

I wish your story would hold true for most buyer,but it seems to be the exception to the rule.
Good job,

 

Sidney Kutchuk

 

Feb 16, 2010 05:06 PM
Thesa Chambers
Fred Real Estate Group - Bend, OR
Principal Broker - Licensed in Oregon

Jared - thanks - it was a lot of fun to get this one done

Katerina - thank you - I appreciate your vote of confidence and comment

Tim - the bank - believe it or not it was Chase

Sidney - It does not need to be the exception - an educated short sale expert can get things done - because they know the process - the banks and the idiosyncrasies of each bank - short sales are not for everyone - it takes team work - planning and a lot of educating the buyers and sellers -

Feb 16, 2010 05:18 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Isn't it wonderful when the stars all line up?

Feb 16, 2010 09:22 PM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Time to make hay. Just keep shooting at the real estate targets..the short sale birds flying over. We'll clean up the shells later. Good for you! Nice to hear success in a sea of whining, complaining short sale horror shows. It would be easy for a new agent to think the SS is Krypotonite. Try it, you might like it. What's not to like about a commission check? I never saw one I did not like, no matter what the size or how many zeros.

Feb 17, 2010 01:17 AM
Maggie Dokic | Miami, FL | 888.883.8509 X101
eXp Realty LLC - Miami, FL
GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |

Thesa, congratulations on your success, girl!  I still think they are a pain,  =) but I know how to do them and make sure I do them the way they're supposed to.  Otherwise, I may as well forget about it.

Feb 17, 2010 04:02 AM
Jim Hale
ACTIONAGENTS.NET - Eugene, OR
Eugene Oregon's Best Home Search Website

Thesa -

Thanks for the encourageing example.  Tim already asked my question.

Feb 17, 2010 07:52 PM