Wells Fargo instructs the sellers and their agent to just get an offer. They WILL work the short sale.
So, the sellers accept a fair offer. Just a few thousand less than the recent Wells Fargo appraisal.
Contract is sent to Wells Fargo for short sale approval.
I do believe that all short sale negotiators should be paid on commission. I have not found one that seemed to care about their asset or the work involved by all in getting the home to closing.
The short sale negotiator at Wells Fargo (and believe me I want to mention his stupid name) but won't, changes the terms of the contract...he is OK with the sales price, but the sellers have agreed to pay $3100 in buyer closing costs and he changes it to $2100. Along with reducing the real estate commission by a percentage point, There are two medical liens on the property totaling $1500 that he also refuses to pay. Why should Wells Fargo pay their medical bills, he asks....well, duh, because you want to sell the property.
The buyer was unwilling to come up with another thousand dollars and walked. The sellers were so frustrated, they have informed Wells Fargo they are moving out of the country and to proceed with foreclosure. We all know that in foreclosure they will get thousands less than the short sale price.
What's wrong with these investors??? This makes no sense whatsoever. Maybe someone out there can help us all understand how short sale decisions are made!!!!
RE/MAX Unlimited 10850 Highway 412 West Lexington, TN. 731-249-5376
Linda Lipscomb 731-695-1118 LindaLipscomb.com