Dear Mr. Seller, I Regret to Inform you that the Short Sale was Accepted
We who do short sales fully understand the degree of frustration associated with trying to get a bank’s response to an offer on a short sale. The endless phone calls, resending documents, the disconnects, no response, all so aggravating.
This morning I made a call to a bank still hoping to get a short sale offer accepted, or at least some conversation. The paperwork had been in 3 weeks, but still no call from the negotiator. The appraisal had been done; my contract was greater than the bank’s value; it was a cash offer with all necessary documentation.
Finally I got through today and the bank has accepted the offer. Now to make the phone calls. I naturally assumed that the first call should go to the seller who has been living the frustration and uncertainty for almost 3 years now, even though the house has only been on the market about 90 days.
Hi Mr. Seller, good news, I just got off the phone with your bank and they have accepted the contract, we can proceed with the transaction and get you out of your hole.
Dead silence on the other side, then a sigh and a tone in the voice that was anything but happy. Don’t you want the sale to go through so you can get on with your life? I suppose so, but it’s just another step in the process was the response.
I have heard so many things when I have made this call before, to any client waiting for a positive response to a deal, but to hear disappointment especially with a bank transaction just floored me.
Don’t they realize that they can get on with their lives. There will be a scar, but nowhere near the pain of being evicted and facing the judgment of foreclosure. I have always heard elation, tears of happiness, but a pregnant pause and disappointment was new.
I look forward to my next short dale acceptance, and maybe again I will hear the happiness and feel the sensed of accomplishment that comes with successfully completing a short dale and helping people to feel the relief of no longer facing the unknown.
Dear Mr. Seller, I Regret to Inform you that the Short Sale was Accepted
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