A Quick Smooth Short Sale is No Big Deal!

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

A Quick Smooth Short Sale...No Big Deal!

The contract offer was written on June 18th, the contract was accepted on July 7th, bank approval was given on July 13th and closing took place today August 25!

A Quick Smooth Short Sale is No Big Deal...as long as you have the right team.

Our team consisted of a terrific listing agent Robert Ellin, title attorney Jeff Margolies,  Margaret Rome and Mortgage Mama.

We also had the most cooperative and pleasant seller plus  wonderful buyers!

The team worked together in harmony keeping each one updated and getting everything the bank wanted in a timely manner.

In my opinion, it is the relationship of the listing agent with the bank that makes or breaks a short sale. Robert Ellin was a delight to work with and on top of each and every detail.

                                        =============


                                     

              I like the laminated survey Supreme Title gives to the buyer.


                                         Survey  HomeRome 410-530-2400

                                              

                                                  Jeff Margolies Esq

 

    I had the best buyers in the world! At first we were looking for                    a townhouse with garage. We were lucky it was not available because we found this wonderful single family home with a two car garage in a neighborhood with lots of their friends!

 

                                       Robert Ellin, Margaret Rome, The Buyers

 

                                              Mortgage Mama

  

Always  thought M&M stood for Margaret in Maryland but Bridget said otherwise..Mortgage Mama. Can we both be right? Absolutely!

A Quick Smooth Short Sale is No Big Deal...as long as you have the right team.

 

 

                                             XXXXXXXXXXX

 

 

 

                              410-530-2400

 

 

I am available to answer any questions or concerns. mrome@HomeRome.com 410-530-2400

 

 

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Rainmaker
1,317,476
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

what a great post and a great example of how a short sale does not turn into a long sale and a headache.

 

Aug 25, 2011 03:41 PM #1
Ambassador
1,965,905
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Margaret, this just proves that a great team that knows what they are doing will be successful quickly and save all parties involved a lot of aggravation and frustration.  Great job!

Aug 25, 2011 03:43 PM #2
Ambassador
2,287,201
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

What a wonderful testament to others.  You are so gracious in all that you write, always building others up and giving credit.  Great job, Margaret.  I know that your buyers are thrilled.

Aug 25, 2011 03:50 PM #3
Rainmaker
317,289
Liz Flint
Century 21 Hardee-Team Realty - Houston, TX
Houston\Tomball Realtor (832)816-8066

Hi Margaret, what bank was it that only took 7 days to approve? I'm curious, it usually takes weeks to get an answer.  Thanks for processing another sale so that it didn't go to foreclosure.

Aug 25, 2011 03:54 PM #4
Rainer
284,179
Christine Hooks
Pino Agency - Pennsville, NJ
Celebrating 25 Years in Real Estate!

I just love those great big settlement smiles!  :D

Aug 25, 2011 03:57 PM #5
Ambassador
3,939,189
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Margaret

That's pretty impressive for a short sale. Thankfully you had the right person on the bank side. Sometimes, no matter how great the team, the bank can, well, muck it up. Congratulations!

Jeff

Aug 25, 2011 04:52 PM #6
Rainer
365,852
Scott Hayes
(512) 786-8300 - Austin, TX
Realty Austin, Broker Associate

Margaret,

Congrats on a great sale. Anytime you can get a short sale to go that quick, it is pretty impressive. It takes a great team.

Aug 25, 2011 04:56 PM #7
Ambassador
1,494,227
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Margaret,  A great story with an even better ending!  Your Team Rocks!  Congrats!!

Aug 25, 2011 05:44 PM #8
Rainmaker
4,910,880
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Congratulations, Margaret....having the right team members can and does make all the difference....you have it.

Aug 26, 2011 12:01 AM #9
Rainmaker
1,416,404
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Congratulations on a speedy process, and kudos to the team success!!!

Aug 26, 2011 01:23 AM #10
Ambassador
2,961,148
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Joan, Hearing so much negativity about short sales, I wanted to share this positive experience!

Silvia, Having the right team members (buyers,sellers,bank,listing and selling agent) makes the difference.

Judi, Just proves that you cannot do a short sale alone...no matter how good you are!

Liz, Wells Fargo.

Jeff, It worked well with each member being the right one.

Scott, You are so right.

John, You have to put the team together each time.

Barbara, Having the right agents, the right lender, the right title company, the right buyers and right sellers...makes the right team.

Kat,Thanks for stopping by.

Aug 26, 2011 02:43 AM #11
Rainmaker
362,967
Bridget "Mortgage Mama" McGee
SWBC Mortgage 410-960-2061 - Baltimore, MD
Maryland Mortgage Mama NMLS#196068

Margaret,  Thanks for another fabulous transaction!  You make it easy to make it happen!  Congratulations to another happy client! 

Here's my version of the day!

http://activerain.com/blogsview/2475114/another-active-rain-success-

Mortgage Mama

 

Aug 26, 2011 03:53 AM #12
Ambassador
2,961,148
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Bridget, It was a wonderful settlement. Lots of happiness and  a big thank you for being there to make it happen!

I love your account of the day!

Aug 26, 2011 04:28 AM #13
Rainmaker
281,030
Gail C. Harris
Resource Network, LLC SFR, AHWD, ACRE, SMAR Board Director - Chesapeake Beach, MD
Reach the BEACH with Gail C. Harris (cell: 703.868

Most times I find it's the relationship between the agent and the negotiator, too.  And, even at times as the buyer's agent, I ask permission to speak with the bank, too.  I am very tenacious.  My first short sale was doing nothing for months, I finally said enough of this, and within 20 days after I was involved we closed.  My next was 30 days.  I wish I could be involved in more of them, it's just a matter of being on top of things, most times. :) Great job.

Aug 26, 2011 09:25 AM #14
Ambassador
2,961,148
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Hi Gail, You have been missed. With a short sale you must be tenacious! I bet you are great getting the short sales settled!

 

Aug 26, 2011 10:40 AM #15
Rainmaker
644,939
DeeDee Riley
Lyon Real Estate - El Dorado Hills CA - El Dorado Hills, CA
Realtor - El Dorado Hills & the Surrounding Areas

That's incredible Margaret!  Congratulations!!!  Was your short sale by any chance owned by Wachovia.  The only one I have had be so smooth was with them.  Have a wonderful weekend!

Aug 26, 2011 03:57 PM #16
Ambassador
2,961,148
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

DeeDee, It was Wells Fargo and there were 2 loans!

Aug 26, 2011 04:30 PM #17
Rainmaker
3,213,841
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Every short we do has two loans...or at least 95% ...some have other liens as well....would that they all moved this quickly !

Aug 27, 2011 01:47 AM #18
Ambassador
2,961,148
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Sally, It would be nice if they all moved this fast.

Aug 27, 2011 06:07 AM #19
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