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Bank Employee Seeks Melissa's Advice on Short Sale Negotiations

By
Real Estate Broker/Owner with Broadpoint Properties Cal BRE #01324959

short sale negotiationsThe last two weeks have been great. The weather in Escondido has not been too warm. Usually, it is much warmer at this time of year. I attended RainCamp in San Diego and learned lots and met some new AR friends. Also, so far we have postponed all of our 27 foreclosure sales that were scheduled for August. So, the short sale thing is going pretty well.

I've been spending a little more time than usual on the phone because Michelle (my right arm when it comes to short sales and a favorite among clients) just had a little baby boy and is off on maternity leave for a few more weeks. (Side note: If you know Michelle and want to send her your congrats on the birth of the baby, you can email her by clicking here.)

Anyway, as a result of this additional time spent on the phone, I have the privilege of speaking with more bank employees than I usually do. Today, however, I had a conversation that was completely different than any short sale conversation I had ever had before.

I received a phone call from a short sale processor at a bank in the MidWest. She was calling with regard to a short sale. We had spoken the day before, and I needed to obtain a few signatures from buyers and sellers and get a document back to the bank. The sellers are out of town, and I advised her that it would be a day or so more before I would be able to return the document.

But, she was not calling about the status of the document. She was calling for my help. You see, she stated, "I have the title report and I have the appraisal and I am not sure what to do next."

I asked her a few questions. I was curious whether they were servicing the note for an investor. Based on her responses, I then advised her how to proceed. I was surprised. I was confused. I was a consummate professional. I was also thinking that maybe there is a job for me at some banking institution in the MidWest.

But, hey, I'm much happier here in San Diego County with the great weather, the RainCamp, Michelle, her baby, and my awesome short sale crew.

Comments(11)

Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Melissa,

That's a tricky situation. We once handled the short sale for a bank employee. She first thought that because she was working for the bank, she knows how to talk to them, but turned out this was not the case.

She was lucky, everything worked for her, but it was a bit weird situation

Aug 10, 2010 04:14 PM
Mary Douglas
United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO
REALTOR, Red Feather Lakes, Colorado

Hi Melissa, Obviously this person is new, strange that she did not ask someone in her department, but she was smart enough to call someone "in the know" - YOU!!! -- what a weird switcheroo :-)

Aug 10, 2010 04:48 PM
Vicki Pedersen
Pedersen Real Estate - Riverside, CA
Providing Exceptional Real Estate Service

Melissa,  I think it is great that the bank person had confidence in your knowledge to come to  you for help.  I see it as a compliment to you. 

Aug 10, 2010 05:33 PM
Jim Hale
ACTIONAGENTS.NET - Eugene, OR
Eugene Oregon's Best Home Search Website

Not so wierd...she just knows an expert when she gets one on the line.

Aug 10, 2010 08:40 PM
Kent Dills
Broker, Dills Real Estate - Bellingham, WA
Real Estate 817-495-8028, Bellingham, Washington

Melissa, glad to hear: you've been having the usual good weather in S.D., you attended and enjoyed RainCamp, you've been successful getting the foreclosure sales postponed (that's not always the case - as we know), and that you were able to help the short sale processor from the bank in the MidWest.  Paying it forward always comes back to you! 

Aug 10, 2010 11:26 PM
Fernando Herboso - Associate Broker MD, & VA
Maxus Realty Group of Samson Properties - Clarksburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

I worry about the ones NOT asking any questions and delaying my short sales. . .

Aug 11, 2010 12:27 AM
Kathy Torline
ERA Herman Group Real Estate - Colorado Springs, CO
Colorado Springs Real Estate Blog 719-287-1049

WOW, great post.   Thanks for sharing.

Aug 11, 2010 02:12 AM
Damon Gettier
Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert - Roanoke, VA
Broker/Owner ABRM, GRI, CDPE

Melissa, I think a lot of banks have hired so many people that they are incapable of training everyone the right way.

Aug 11, 2010 04:08 AM
Andi Grant
310-508-4354 | FirstTimeHomeBuyerRealEstate.com - Los Angeles, CA
Helping 1st time buyers and home sellers in LA!

WOW Melissa!  That's REALLY a great compliment to you, but kind of scary for the sellers' files she holds in her hands. 

Aug 11, 2010 07:45 AM
LaNita Cates
REMAX of Joliet - Joliet, IL

WOW! Good for you that you knew what to do. It's sad the training some of these employee don't have.

Aug 11, 2010 12:25 PM
DEBORAH STONE
Balboa Real Estate San Diego, CA - San Diego, CA

Melissa

This is a riot! I think it a huge compliment to you--and not hard to understand that you probably have alot more experience than she does...but it is kind of scarey to think we are depending upon these bank employees to work miracles!

Aug 12, 2010 10:56 AM