The One Week Short Sale Miracle on Brookmeadow...

By
Real Estate Broker/Owner with Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate

The View from the House on Brookmeadow...

The idea started to percolate after reading the article.  A small write-up about a local real estate agent caught her eye. She had toyed with the idea of putting the house up for sale before, but this time the process proceeded rapidly. Signs, pictures, internet promotions and potential buyers all appeared in rapid succession.

As November blustered its' way into December, the cold chill of winter finally yielded to the unrelenting sunshine of spring.  But, it seemed that inside, an eternal winter had settled in for the long haul.  Potential buyers remained skittish about putting in offers.

Meanwhile, the free fall continued unabated.  I watched as neighbors lowered their expectations.  My proud community was plagued as distress sales wrought havoc with pricing.  Responding to the new 'abnormal' required her to follow suit.  I could sense the sadness on so many levels...For within my space, so much had happened between us.  If walls could only whisper...

 

The Process...

heart healingThe process dragged on without a good end in sight.  The Redemption Period was drawing to a close and even with drastic reductions, the prospect of an offer seemed dimmer every day; an odd tension settled in...life in mute...suspended between hope and despair.

A hope that was dashed by the call at midnight.  A beautiful life...gone.  Time stopped.

As friends gathered to mourn, a knock was heard.  Two strangers stood on the front stoop.  There had been no call.  These individuals stood outside, unaware of the situation..the pain and trauma; asking on the spur of the moment to see the home.  Somehow, she managed to open up a heart pried shut with pain. Somehow, she found the strength to allow them in.

 

The Offer...

Life is curiously strange.  How is it that the real estate agent without a scheduled appointment who arrived on what could be deemed the worst possible day would be the one to present an offer on a Short Sale within the last couple of weeks of a Redemption Period in a non-recourse state?

The lady at the bank must have struggled to control herself as she explained that this just WOULD NOT WORK!  Banks don't negotiate Short Sales which only have 2 weeks left for the Redemption Period.  The lawyers said so too.  It couldn't be done.  The deal was dead before it even had a chance to breathe.

A week went by.  Lazarus remained entombed.

Then out of the blue a call came in asking to gain access for an appraisal.   Was this some sort of evil scheme to steal the home back ahead of the prescribed time?  No one seemed to know WHO gave the offer.  The representative who answered the phone at Bank of America emphatically denied that an order had been given.  The lawyers also swore they hadn't ordered one.  The appraisers themselves could not explain the origin of the appraisal order.  So entry was DENIED.  Lazarus continued to sleep...

 

A Man Named Noah...

He reached her that Friday evening.  The end of a long, difficult week.  He wanted to know WHY access had been denied.  Access that was vital to continuing the Short Sale Process.  Confusion??  Had he not heard? Short Sales CANNOT be completed in ONE WEEK!

The appraiser had already re-booked his schedule.  He would not be available to conduct the appraisal until Tuesday morning.   Then on Monday evening, Noah called to say, the file had been CLOSED.  After further inquiry it became clear that the company assisting with the Short Sale process had come to the conclusion that every normal thinking person would come to.  This deal could not be done.  It was a waste of time to try...

But to Noah's credit, he re-opened the file.  One which was as good as dead.  He was frank and careful to temper expectations.  He promised to do everything humanely possible to assist, but also admitted that he had NEVER seen a file like this close within a week!

 

A Lady Named Mandie...

But Mandie, didn't believe in giving up.  She had walked through tons of homes with this buyer.  And they both knew this was the one!  The conversation between both agents was starkly honest.  The stakes were high and neither agent wanted to contribute to any additional chaos to the lives of two sets of clients.  After consultation and laying all the cards on the table, the decision was made to proceed.

It takes a team to do a deal.  This one included Kevin, the lender who completed an FHA transaction in 7 days, Katie the title company representative who cleared title in 24 hours, agents on both sides who refused to let go and a buyer and seller who pushed through despite the very real potential for disappointment.

 

And Today...

Today, a week later, the transaction Closed!  A transaction which would have been difficult in far better times.  One which could be certified a miracle today.  With literally hours left till the closing of the Redemption Period, the transaction was completed.  We marvel.  

I think that angels sometimes play dress-up.  How else can you explain a Short Sale approval from start to finish in less than 48 hours?  More importantly, I believe in a God who IS able, one who answers prayers and is concerned about the challenges we face including the mounting obstacles of so many who are mired within the gridlock and despair of the Housing Crisis.

And...I am reminded that absolutely NOTHING is impossible.  No matter how difficult things seem, there is a Father who cares.  During one of the most challenging days of this journey, a man named Bob posted this video on his Facebook page.  It's a reminder that God doesn't just look at our struggles, He steps into them with us.  Perhaps, you're facing an obstacle course which seems to have no end in sight.  Be encouraged...Don't give up.

Picture courtesy of saxonymosely on flickr

 

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Rebecca Gaujot, Realtor® 08/17/2010 06:24 PM
Topic:
ActiveRain Community
Location:
Michigan Kent County Grand Rapids
Groups:
Realtors®
Christianity and Real Estate
Fraiche Aire
Bloggers Choice Selections
Greater GRAND RAPIDS, MI Real Estate
Tags:
michigan
inspiration
grand rapids
audu real estate
short sales
auduhomes
brookmeadow ct
mandi romig
coldwell banker huppough

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Rainmaker
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Patrick White
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home

Good Morning Lola,

Thanks for the post. Have a great day.

Aug 17, 2010 05:16 PM #1
Rainmaker
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Rebecca Gaujot, Realtor®
Vision Quest Realty, Martha Hilton, Broker - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Lola, Oh my what a wonderful post and your writing is superb. Enjoyed reading this story that brought tears, tears of happiness and knowing that GOD cares and nothing is impossible.  Thanks for sharing this wonderful video, I enjiyed it immensely as the message is so true.

Aug 17, 2010 06:18 PM #2
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Lola - that is quite a story. Life sometimes feeds us things that defy explanation, good and bad. Thank you for sharing such wonderful tale.

Jeff

Aug 18, 2010 12:19 AM #3
Rainmaker
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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Hey Lola, that is some story and some video, I'll admit I shed a few tears :) I am glad to hear about the happy ending that is great!!

I believe in Earth angles, as my mother put it.  After her passing a random lady approached me, we chatted a bit and right before she we said good-bye to each other she looks right into my eyes and says, "enjoy your life"  what stranger would say that that you only met for 5 minutes? but then I was like ...ooo yes, I understand that message :)

Aug 18, 2010 12:29 AM #4
Rainmaker
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Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Good Morning Patrick.  Thanks for stopping by today to read and comment.  Have a wonder-filled day!

Aug 18, 2010 12:55 AM #5
Rainmaker
387,806
Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Rebecca, Thank you for not only reading and copying but for SHARING this story with your readers as well!  God cares!  We were all reminded of this during this process.  

Aug 18, 2010 01:01 AM #6
Rainmaker
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Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Jeff, it's a story that is so amazing that I could not have imagined it!  The Short Sale Negotiator called back to indicate that he had never seen this before.  God is amazing! :)

Thanks for your comment.  Have an awesome day. :)

Aug 18, 2010 01:03 AM #7
Rainmaker
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Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Laura, Thank you for stopping here today.  Your mom was a wonderful lady.  Although we never met in person, she was a regular contributor to the Fraiche Aire group and I enjoyed reading her posts because she shared with wisdom and warmth.  I'm thankful that this blog post was an encouragement to you today.  Blessings for a wonder-filled day.

Aug 18, 2010 01:05 AM #8
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Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

I think that angels sometimes play dress-up.  How else can you explain a Short Sale approval from start to finish in less than 48 hours?  More importantly, I believe in a God who IS able, one who answers prayers and is concerned about the challenges we face including the mounting obstacles of so many who are mired within the gridlock and despair of the Housing Crisis.

And...I am reminded that absolutely NOTHING is impossible.  No matter how difficult things seem, there is a Father who cares.

Amazing story Lola, simply amazing but so is our dad.

Aug 18, 2010 01:57 AM #9
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Brian Schulman
Coldwell Banker Residential Brokerage, Lancaster PA - Lancaster, PA
Lancaster County PA RealEstate Expert 717-951-5552

God is indeed great.  This is a heart-warming story.  But wouldn't it be nice if lenders didn't take sellers to the point of heartbreak before doing the right thing?

Aug 18, 2010 02:09 AM #10
Rainmaker
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Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Missy...Thanks for stopping by today.  This experience renewed my faith and confidence in the mercy and power of God. 

Aug 18, 2010 02:15 AM #11
Rainmaker
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Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Hi Brian...Thanks for stopping by.  The Short Sale process is difficult in so many ways and the process often starts years before homeowners have to sell their homes in distress.  In this situation, the offer didn't appear UNTIL two weeks prior to the end of the Redemption Period.   Given that reality, both Lenders involved in closing the sale did an extraordinary job.

Aug 18, 2010 02:17 AM #12
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Jeanean Gendron
The Address Realty - Redding, CA
Specializing in Selling Unique Properties

Lola, what an amazing post. I'm setting here with tears flowing. We all experience this inspiration each and every day. You have done such a good job with the writing and bringing that experience to each and everyone who reads this post. It was a complete treasure to read. Each day for each of us is a miracle. The trick is to see it and know it. Thank you very much for my tears on this day. I am so inspired by your work.

Aug 18, 2010 02:27 AM #13
Rainmaker
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Jackie - computer-training-atlanta.com
770.498.7333 - Atlanta, GA
Learn to leverage technology to get more done.

Lola, What a beautiful, well written post. It read like a thriller and I'm so glad it had a happy ending.

Aug 18, 2010 02:57 AM #14
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. 4Terra Land Brokers .. 828-776-0779 Asheville NC
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Hi Lola~

of course, I got to "suggest' this...inspiring...and valuable post ...thank you.

Aug 18, 2010 04:30 AM #15
Rainmaker
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Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Jeanean...Thank you!  "Each day for each of us is a miracle"...In times like this, we are well reminded of that fact.  Hope you're enjoying your day. :)

Aug 18, 2010 08:43 AM #16
Rainmaker
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Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Jackie...Thank you!

Hi janeAnne...Appreciate you!  Thanks for stopping by. :)

Aug 18, 2010 08:44 AM #17
Rainmaker
497,376
Robert L. Brown
www.mrbrownsellsgr.com - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic

The IMPOSSIBLE becomes POSSIBLE. Great post and outstanding outcome. You are right a TEAM is necessary to pull off thee "miracles". Congratulations!!

Aug 22, 2010 11:23 AM #18
Rainmaker
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Walt Fish
Bay Area Home Inspection, LLC - Marquette, MI
Upper Michigan's Most Experienced Home Inspector
Hi Lola, That is an amazing story! Yes, God does intervene at times, and uses people (touches thier heart) to care about another person and make the impossible very possible. I often think that bureaucrats (bankers, lenders, finacial institutions) spend more time defending thier unwillingness to get things done due to regulations, than they do using those regulations to make the process run smoothly.
Aug 24, 2010 03:21 AM #19
Rainmaker
497,376
Robert L. Brown
www.mrbrownsellsgr.com - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic

Oh BTW i see you had a GREAT title person in the mix. She is really good i've been told.

Aug 24, 2010 06:06 AM #20
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