Back in June I took a referral from a " local expert " real estate agent in Torrington, CT that needed a short sale expert to get the job done for him. I wish all agents would understand their limits and refer it out instead of trying to stumble through a short sale with their clients financial life on the line. 13 months late and going through the state of Connecticut's judicial foreclosure mediation program, the client had finally realized her only option was to sell, and the real estate agent that was the clients friend knew he was over his head.
We were able to attain a contract in a little under 90 days, and there were some slight hangups. The client was so deep into foreclosure, the Citimortgage short sale reps needed to attain approval from the litigation department at every step of the way.
It took a little longer than usual ( around 90 days ) but overall was pretty smooth.
Here is the break down:
Amount owed: $325,000
Sale price: $155,000
Closing costs allowed: $13,000
Net to lender: $142,000
Debt forgiven: $182,000
Need to sell your home? Why settle for less than 5 stars? 2011 and 2012 Connecticut Magazine 5 star real estate agent.
Patrick
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