This transaction was another short sale in downtown San Jose, a condo. Wells Fargo was the bank and I must say, this transaction was one of the smoothest short sale transactions I have had thus far! It only took about one month for short sale approval, which is almost a record for the transactions I have been involved in. My client is an investor taking advantage of the low prices and has a friend in this same community which I sold a condo to a couple of years ago. So, the buyer already knows the community well and visits his friend quite often. This was an all cash buyer and we closed the transaction in about 3 weeks. It was refreshing to have a nice, smooth and quick short sale transaction for sure. The listing agent was really on top of the deal the entire time, so that was extremely helpful. The buyer got a great deal on price, he bought the condo for $10,000 under what another condo just like it recently closed for. I have noticed that Wells Fargo isn’t too bad to work with when it comes to short sales. They seem to answer fairly quickly in short sales transactions.
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