Only took three months - lots of compromising and keeping the eyes on the prize - but we got it done.
The buyer was under alot of pressure because of the deadline for the first time homebuyers tax credit of $8000.00 that had to close by June 30, 2010 - I know they have extended it if the President signs the bill but it was not implemented until the day of closing so you could understand the pressure was on all of us to close this before the deadline.
The seller did not disclose to the negotiator that she owed over $17,000 in maintenance fees and attorney fees. She told the negotiator it was about $5000,00.
When the approval came from the bank about a month ago - we were all thrilled - but the thrill was gone to quote a great song, when the estoppel letter came back that the maintenance fee was $17,890.00.
Bank of America refused to pay all of it - buyer came up $5000.00 on his contract, title company cut their fees by $900.00 - and low and behold the listing agent and the buyer's agent had to contribute commissions as well -
All in all, the short sale closed - Seller and Buyer are happy -