The Never Ending Story...The short sale that finally closed!!

I recently closed a short sale that I had in my pipeline for almost 2 years...and I feel grrrrrrreat

I first listed this property in July of 2009 and we have been under contract 5 times over that span and it finally closed.  In my office this deal was labeled as the Never ending story...

 OK, it wasn't as fun but worth it for my clients at the end of the day...

Here's a recap on how this deal went down

Listed on July 13, 2009

1st offer, 09/2009 @$150k, buyer canceled after almost 5 months,
 
2nd Offer 02/2010, $90K, buyer canceled after 7 months, 
 
3rd Offer at $90K, with no feedback, buyer walked away. 

4th Offer 90k buyer canceled after 6 months

5th Offer for 85k after 5 months... SUCCESS!!!

This loan was sold mid way through offer 1 to B of A then once it landed in

  portfolio, Once received they proceeded to accept it all four times but was unable to process due to slow processing time (keep in mind this is before Equator), inexperienced staff (they have improved in this area) and the transistion between regular short sale dept and equator.  We had approx. 8 bpo's on this property and of course, the house had a title cloud and a violation from teh city just to put a cherry on top...the home owner went through more ups and downs than a trip to six flags...But I cannot complain; Sure I only got paid $3,000 (which averages out to about $15.00 per day of work) but no matter what; after its all said and done, it was worth all the heartache as my clients are officially  of that house!!

A true Short Sale Specialist, works not just for the commission but for the opportunity to help home owners avoid foreclosure and financial devastation.  If you or someone you know is in need of some help and want to work with one of the best...Contact us today!

Malik Crichlow
REALTOR® , CDPE, SFR
GBH NJ

Direct: 973.849.6907
eFax: 973.843.0277

Malikcrichlow@gmail.com