Whether Northern Virginia or Sacramento, it is so very important to the success of the short sale to have active, involved sellers. A qualified and knowledgeable short sale agent appreciates responsive sellers and can help you with the details and timelines. Good agents and sellers work hand in hand to stay on track. There are several lenders who will communicate directly with sellers (Aurora for one) and strict timelines for response (10 days). Make sure to use a qualified agent in your area for the best opportunity to have a successful close on your short sale.
In general, I'm the type of person that likes to get things done as quickly as possible. If I let a task linger, I might forget to do it. That is one of the things that makes me a successful Northern Virginia Short Sale Agent. I do complete tasks promptly. And if you're going to a be a Seller client of mine in a Short Sale, or a Buyer's Agent on one of my Short Sale Listings, I expect the same from you. Quite honestly, the success of our Short Sale depends on prompt actions.
Take for instance working a Wells Fargo Short Sale. Wells Fargo will close a Short Sale file if they have requested something from the Listing Agent (that's me) and it is not delivered back to them within a specific time frame. That might be two days or two weeks. Depends on the mood of the Wells Fargo processor or negotiator you are working with.
So if Wells Fargo contacts me and asks for specific addendums to be signed by the Sellers, Buyers, the Buyers' Agent and myself as Listing Agent--that task needs to leave my desk immediately to the Sellers. My Short Sale Sellers are well trained in signing documentation and getting it back to me ASAP. They know their Short Sale depends on it. When it comes to the Buyers' Agent and Buyers well, sometimes there is a lack of urgency.
As a side note to Buyers' Agents and their staff: Please forgive me if I ruffle your feathers while completing a task requested by the Short Sale Bank. I realize the gravity of the situation. If I seem,demanding, rude or otherwise wrapped too tight about these addendums when I've asked for them for the fourth time in ten days, don't get defensive. Just get me what I need.
Wells Fargo, and other Short Sale Banks will literally close the file if requested paperwork is not returned in a timely fashion. So if you want that Short Sale to close, do what's asked of you as quickly as possible and you won't have to worry about your file being closed for non-compliance.
Chris Ann Cleland, Associate Broker- Licensed in Virginia, GRI, SFR, Northern Virginia Short Sale Specialist. Affiliated with Long & Foster, 7526 Limestone Drive, Gainesville, VA 20155. To contact Chris Ann, call 703-402-0037 or email chrisann@LNF.com. Or you can visit her website: www.nvarealestate.net.
Header photo is Lake Manassas in Gainesville, VA taken by Chris Ann Cleland.