Another Short Sale Closed; Indio, California This Short Sale was a mad dash to acceptance and then Close. Listed at the end of August, just 2 weeks before the Sale Date, after the Sellers were denied a Loan Modification. Talk about some quick footwork! Got the Sale Date delayed, priced it right, found a Buyer that loved it, and we are officially recorded. Entire process took under 90 days..it IS possible!
Interestingly enough, Chase has been one of my most difficult Lenders. They tend to come in high on their BPO's, and that skews the Negotiators' opinion of Value. This time, they accepted that I was on the money with my List Price which was Fair Market Value price/sf, less about 10%.
This Short Sale required a special Buyer as there was no entry due to the Tenant. They wrote their offer "Contingent Upon Inspections". ALso..they had a VA loan..very tough with a Short Sale that was difficult to enter! But..Inspections were done, my Local Lender pressed forward, the Buyers are thrilled and the Sellers are relieved.
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