Another Successful Short Sale Just Closed! 6260 3rd Avenue, Sacramento TAHOE PARK!

By
Real Estate Broker/Owner with Cathy Ashley McAlister, GRI CDPE - Broker / Sacramento

Another Successful Short Sale Just Closed!  6260 3rd Avenue, Sacramento in Tahoe Park!

 

 

Sales Price:  $170,000.00   

 

Listing date to Offer:  5 days

Accepted offer to short sale approval: 47 days

Approval to closing:  22 days

 

Short Sale Lender - Bank of America - One Loan.


Total transaction time - 74 days.  Start to finish.  Best part - Seller was NOT delinquent on payments at close of escrow and had kept every single payment current, including December. 


 

 

Seller represented by Cathy McAlister at California Living Real Estate.  DRE#00648507.    Serving River City Homeowners since 1981.    South Land Park, Fruitridge, Hollywood Park, Freeport, Greenhaven, Pocket.   

 




 

 

 

 

 

 

 

 

 

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Rainmaker
1,017,196
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I really think we should have a band play every time we close a short sale.  They are not easy but difficult.

Jan 08, 2012 04:52 PM #1
Rainmaker
108,711
Cathy McAlister
Cathy Ashley McAlister, GRI CDPE - Broker / Sacramento - Sacramento, CA
Sacramento DRE#00648507

Tim:  This one made us dance without the band!   The seller was so excited to have completed the short sale without ever having been late. 

Jan 08, 2012 04:59 PM #2
Rainmaker
710,608
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Cathy

Congratulations.

But I have to ask....how on earth did you get short sale approval in 47 days, and from Bank of America, no less? I've had two recent short sales, both with Bank of America. BOA was so friggin' slow that the buyers walked. One of the sales had 4 buyers walk away. Thank goodness the 5th one stuck it out and closed. On the other one, it was the 2nd buyer who stayed.

No thanks to BOA.

Jan 08, 2012 05:21 PM #3
Rainmaker
108,711
Cathy McAlister
Cathy Ashley McAlister, GRI CDPE - Broker / Sacramento - Sacramento, CA
Sacramento DRE#00648507

Pacita,

BofA has gone from our worst to the best (I know, it's hard to imagine).   The seller had done the research and had found me off the internet.   She had her HAMP denial in hand and a great property in good condition.  She was committed to trying to close without missing a payment.  We received a very fair offer.  The bank countered quickly and the buyer came up some.  All in all ... it just moved smoothly.    Seller received her HAFA funds, no deficiency worries and No lates.    I was thrilled for the seller.

We need to spread the word to all potential short sale sellers  - YOU DO NOT ALWAYS HAVE TO BE LATE!    I think I feel another blog coming on. :-)

Jan 08, 2012 05:35 PM #4
Rainer
247,691
Doug Bullwinkel
Envoy Mortgage, NMLS 6666 - Roseville, CA
Mortgage Loan Originator NMLS #281609

Great job Cathy.  Did you know that if your seller is a veteran, they may be eligible for a new 100% VA loan in only 12 months after a short sale? 

Jan 08, 2012 07:44 PM #5
Ambassador
1,498,436
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Congrats Cathy on a successful home closing!  What an awesome way to begin a New Year now onward and upward my friend.

Jan 09, 2012 01:05 AM #6
Rainmaker
1,777,582
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Congratulations, Cathy. It's wonderful to read a success story, and the comments here, too. Doug Bullwinkel really knows his stuff, as you know yours.

Jan 09, 2012 03:47 AM #7
Rainmaker
108,711
Cathy McAlister
Cathy Ashley McAlister, GRI CDPE - Broker / Sacramento - Sacramento, CA
Sacramento DRE#00648507

Doug:  This was was not a veteran, but I we have two current listings where I believe the seller is a veteran.  I am going to pass this on.   Thank you. 

 

John:  Closing a short sale is a great experience 99% of the time.    This one was among the best.

 

Lottie:  Thank you.  As long as your area continues to not have many short sales - I remain very hopeful for the Sacramento market. 

Jan 09, 2012 11:28 AM #8
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Rainmaker
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Cathy McAlister

Sacramento DRE#00648507
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