Whew. Monday my sellers just closed on a listing that we got under contract on January 1st of this year. I'm exhausted. I'm sure there are many rants and raves on here about short sales and BOA, guess I'm just adding to the pile.
We worked with a 3rd party loss mitigation company that BOA hired to 'manage' the short sale. Not sure they had much control either or made things any better.
Ready, willing, and able buyer....Does that mean anything to you???
Great buyer's agent on the other side (THANKS Desi!). Patient, smart, flexible, did I say patient?, good communicator. Just the type of agent you want on the other side. A true professional.
She is great because the buyer got cold feet SEVERAL times during all this (I don't blame him). She was able to talk him through it every time.
50% referral fee to the loss mitigation company for my trouble? OUCH. I marketing this home just like any other. Not sure I will agree to anything like that again. (DUH)
I want business. Good business. At what cost? Will Active Rain charge me for this free therapy? haha
There is a way to manage these short sales. TRUST the people on the ground. A clerk in California will never be able to get a virtual idea about a property in Virginia. Hire a great agent (there are many of us out here). Listen to their advice. Ad them to the team for this process. Working a short sale now is like buying a car at a cheesy dealership where you never get to talk to the man behind the curtain (shameless Wizard of Oz reference). "I'm writing a number down...."
Buyers are stimulated by crazy low rates and historic amounts of inventory to buy. Don't take that away from them because of your process.
Thanks for letting me blog/rant. :)
Hope everyone is working hard and selling lots!
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