Your mouths may be hitting the floor as mine did this morning after chatting with a one of our top agents at Solano Pacific Coldwell Banker office in Benicia, CA. I asked if I could blog about this and she said "sure...tell the world".
This agent has a listing in Benicia, CA that is a short sale and the bank is Citibank. It just so happens she also does business with Citibank on her investment properties.
All experienced Short Sale Agents know that we put many hours of effort in making the paperwork as precise as possible when sending into the bank. She dutifully put the loan # on all 183 pages in the top corner. Her name would only appear as the listing agent and authorized person for the bank to speak with. So she had all her i's dotted and t's crossed. This was two weeks ago.
This week she gets a call from Citibank asking to do a BPO for one of her own personal investment properties. And then they called again on her other investment property. UH?! She is scratching her head and said why is this happening? To say she was dismayed, and maybe even a little perturbed is an understatement. And more so from the fact two weeks have passed on her client's short sale and nothing is started!
She gets to the bottom of it......Citibank thought SHE wanted a Short Sale!
Warning Will Robinson! Warning! Is this the new wave of the future that a bank will check out if WE have a loan with them and confuse the short sale process?