I have a listing that is under contract, awaiting 3rd party approval from my seller's mortgage company. I knew this process would make me want to rip my hair out, but I didn't expect this.....
This afternoon I received a phone call from the BUYER'S LENDER (same company as my seller's mortgage holder) and the BUYER'S LENDER told me what the acceptable terms were to the lender/mortgage holder. She evidentally had success getting a hold of MY SELLER'S NEGOTIATOR.
That is fine, but I am a bit concerned that the terms of the short sale were ironed out with the BUYING SIDE, without contacting me AT ALL. Especially considering the fact that there is a $10,000 appraisal short fall. As you can imagine, the BUYER'S LENDER has convinced MY NEGOTIATOR to reduce the price rather than have another appraisal. And more than two hours later I am waiting for the negotiator to contact me.
I have tried to get in touch with the negotiator numerous times over the past week, but evidentally there is a fast track is you are working within the company. So the BUYER'S LENDER has INSTRUCTED ME to write up an addendum with the REDUCED SALES PRICE!!!! I don't think so. Not until I've had my chance at talking to the negotiator. And I'm sitting here, nearing the close of business, with absolutely no word from the NEGOTIATOR.
On the one hand, it is great that the BUYERS LENDER was able to get this fast tracked. On the other hand, seems the NEGOTIATOR should have been in touch with the SELLING SIDE FIRST...especially since the financial consequences of this transaction will be with them after the fact.
Has anyone out there experienced something similar to this? Am I just having a bad day, or is this something that seems wrong?