You have to push on your Short Sales to get things done for your clients!

By
Real Estate Sales Representative with REALTY WORLD-Harbert Company, Inc.

You have to push on your Short Sales to get things done for your clients!

 

Jousting

 

Well, we survived another Short Sale battle. There wasn't a doubt in my mind that we wouldn't-the issue didn't make any sense.   

 At the last minute-I.E., day before closing, the negotiator with Chase bank, who mind you, had been on top of communication until this point, received the final settlement statement for closing.  She said that investor would not allow prepaids for the buyer to be paid by the seller/bank on this file. Prepaids??? We have closed dozens and dozens of files where the seller/bank paid prepaids on the buyers behalf on the HUD.

Prepaid Section of the HUD-1 or Settlement Statement

 I immediately told our title company that I would handle it.  I called our sellers to let them know the issue, as well as the buyers agent, in case I was still pushing powers that be, morning of closing.

 I left an urgent voice mail for our negotiator letting her know that this $1600.00 issue was going to kill our deal, and that if it was Chase's stance to not pay borrower prepaids:

 1) It should have come up before now-they had the purchase agreement for two months.

2) If it was Chase's stance, we needed to go to whomever, right now, to get an exception.

 

She told me to call her supervisor.

 I called Chase's Executive Resolution and they let me know that FNMA was the investor.  I knew if I didn't get anywhere with Chase, I was going to FNMA.  If something makes good business sense, it should be done, period.

 I also left a message for one of Chase's Executive team to see if they could assist.

 I knew the conversation with her supervisor was not going to go well, or he would have picked up the phone or had the negotiator allow the issue to be resolved at that time.

 I called him, and was met with one of the strongest personalities I have ever come across in Short Sales, and I have come across PLENTY. 

 He demanded to know what the issue was, and I told him Chase wouldn't allow prepaids to be paid by the seller/Chase on this short sale.  We went round and round-I thought he was trying to have a jousting match, he on his soapbox, me ready to call anybody in the country to get this file closed.

  I can honestly say, if it wasn't for my title insurance/closer background, he would have bulldozed me with his fast pushy talking. 

 I held my ground and he finally figured out "another" way to appropriate the $1600 on the hud and ask what in the world the issue was.  I explained his negotiator said this HUD was not okay, that was the WHOLE issue.  We got the issue resolved, the HUD remained the same, and we are closing on this file in a couple of minutes.

For more information on Short Sales:

Before you Abandon your property

Facing Foreclosure?  Find out how we can help!

 

 If you are behind on your mortgage payments and thinking of doing an Indianapolis Short Sale, Franklin IN Short Sale, Greenwood IN Short Sale, Avon IN Short Sale, Westfield IN Short Sale, Carmel IN Short Sale, you need a persistent experienced agent that knows their way around a short sale.  Someone doing their first one, is not going to have the same knowledge as someone with 50 closed or 100 closed...

 

Agents who have not done a Short Sale-in fairness to your client, you should partner on your first several with a very experienced Short Sale agent.  Read all that you can on Short Sales, and know that each Short Sale will bring a different set of guidelines or challenges, and that is what we are here for!

 If you need assistance with your Indianapolis IN Short Sale or Indianapolis Real Estate, or surrounding areas, give us a call today. 317-885-8858

 

About the Author: The above info regarding Indianapolis Short Sales was provided by: Heather Fitzgerald, who has over 15 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-885-8858. Thinking of selling your home or buying your next home? We can help you with this. I service the following areas: Greenwood IN Real Estate, Indianapolis IN Real Estate, Franklin IN Real Estate, Whiteland IN Real Estate, Mooresville IN Real Estate, Martinsville IN Real Estate, Avon IN Real Estate, Carmel IN Real Estate, Westfield IN Real Estate and surrounding areas. We are experienced Greenwood IN Real Estate Agents.

We have also closed numerous Short Sales: Greenwood IN Short Sales, Indianapolis IN Short Sales, Avon IN Short Sales, Mooresville IN Short Sales, Carmel IN Short Sales, Westfield IN Shortsales. Check more properties at no obligation: www.SmithFitzgeraldTeam.com

 Copyright © 2010 By:

 Heather Fitzgerald- Indianapolis Short Sales. All Rights Reserved.

Posted by

________________________________________________________________________________________________

Heather Fitzgerald

REALTY WORLD-Harbert Company, Inc.

317-371-2622

indplsrealestate@gmail.com

www.FindingYourIndyHome.com

 

 

If you need assistance in Indianapolis IN, Carmel IN, Martinsville IN, Greenwood IN, Whiteland IN, Franklin IN and surrounding areas, considering buying or selling a home, or considering the option of a Short Sale, contact us today at 317-885-8858.  We have experience in Greenwood Real Estate, Indianapolis Real Estate, Greenwood IN Short Sales, Greenwood IN Real Estate for Sale,  Franklin IN Real Esate, etc.

About the Author: Heather Fitzgerald, who has over 24 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-371-2622.

Areas of Service: Greenwood IN Real Estate, Indianapolis IN Real Estate, Franklin IN Real Estate, Whiteland IN Real Estate, Mooresville IN Real Estate, Martinsville IN Real Estate, Avon IN Real Estate, Carmel IN Real Estate, Westfield IN Real Estate and surrounding areas. We are experienced Greenwood IN Real Estate Agents.

Copyright © 2018 By: Heather Fitzgerald- Greenwood Real Estate For Sale. All Rights Reserved.

Heather Fitzgerald on Facebook  Heather Fitzgerald on Twitter  Heather Fitzgerald on LinkedIn

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Rainmaker
491,006
Terry McCarley
REMAX Realty Team - Cape Coral FL - Cape Coral, FL
REALTOR, SRES, CDPE - Cape Coral, FL

Congrats!  You really do have to stay on top of short sales to get them closed.  Also, excellent advice you gave to sellers regarding it taking a real estate agent experienced in closing short sales!  I have closed numerous short sales in Lee County, FL and I find it extremely frustrating when I call regarding short sale listings and during the conversation it comes out that it is the first short sale listing the agent ever handled.  I list short sales and I also show them to buyers and as I have worked on both sides of these complicated transactions, my advice to other real estate agents is to team up with an experienced agent if you want to learn how to propertly do a short sale. 

Mar 24, 2010 05:35 AM #1
Rainmaker
180,011
Heather Fitzgerald
REALTY WORLD-Harbert Company, Inc. - Greenwood, IN
REALTOR Greenwood Indiana Real Estate

Absolutely Terry,  nothing wrong with teaming up to learn, we all need to do more of that!

Mar 24, 2010 05:38 AM #2
Rainmaker
1,047,975
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Heather this is a perfect example of why sellers should be doing a careful examination of who is representing them in their short sale efforts. It is obvious you know what you are doing. Congrats to you and the seller!

Mar 24, 2010 05:43 AM #3
Rainmaker
180,011
Heather Fitzgerald
REALTY WORLD-Harbert Company, Inc. - Greenwood, IN
REALTOR Greenwood Indiana Real Estate

Thank you!  This is my area that I excell in with our team.  If it makes sense for the business, get it done!!!!!!

Mar 24, 2010 05:57 AM #4
Rainer
89,841
Christine Hynes
American Capital Corporation - Laguna Beach, CA
Orange County Senior Loan Consultant

Good for you getting this deal done Heather, Ive heard a lot of bad stories about dealing Chase and short sales.

Mar 24, 2010 08:47 AM #5
Rainmaker
362,407
Lynn Pineda
eXp Realty - Boca Raton, FL
Real Estate Promises delivered in SE Florida

Heather, I bet your Sellers are very thankful to have you on your side. Great going!

Mar 24, 2010 02:08 PM #6
Rainmaker
2,189,557
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Heh, heh, that title background does come in handy at times. Kudos to you, Heather, for not backing down. I've run across some negotiators who thought they were pretty tough as well. They raise their voices, speak rapidly, won't let you get a word in edgewise. If speaking softly and slowly doesn't drive 'em nuts, I, too, can raise my voice and speak even faster than they can, LOL. No wonder you're such a great short sale agent in Indiana.

Mar 28, 2010 03:52 AM #7
Rainmaker
188,743
Christina ONeal
At Home Real Estate Group - Ripon, CA
Realtor - Ripon California

That is awesome....a lot of times I agree to pay whatever it is & just be quiet but it pays (in your case) to speak up.  Good for you :)

Mar 31, 2010 02:34 AM #8
Ambassador
2,134,389
Respect Realty LLC
Respect Realty LLC - Milwaukie, OR
Brokers - Oregon / SW Washington Real Estate

I have found if you are not bull headed, strong willed and have the never give up attitude, short sales may not be for you. You did the right thing for the clients, got the home to close and that is what your job was and you did a great one!

Apr 05, 2010 04:32 AM #9
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Rainmaker
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Heather Fitzgerald

REALTOR Greenwood Indiana Real Estate
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