I LOVE Happy Short Sale Endings!

By
Real Estate Broker/Owner with Real Estate Cafe LLC

I Love Happy Short Sale Endings!I LOVE Happy Short Sale Endings!  This Oregon Short Sale was a bit of doozy.  Mostly because it was a very rural property consisting of 2 homes and a shop on 50+ acres in Glendale, Oregon Because the land was more valuable than the structures, it was nearly impossible to obtain buyer financing, with the exception of a hard money loan.  Trying to find an all cash buyer for this Oregon property was like trying to find a needle in haystack.  We knew we needed a miracle.

A Miracle Indeed.  After several months of marketing this Oregon property, along came an all cash buyer, and she was totally patient too!  As most of you know, there's rarely anything short about a short sale, except what the bank is willing to accept as a payoff.  And because many banks take an exorbitant amount of time to process the necessary short sale paperwork, buyers often become impatient and walk just before you receive 3rd party short sale approval.  

Fortunately, the Buyer wanted this Oregon property real bad, so she was willing to wait the 10 weeks it took to get bank approval.  God bless her!  And 30 days later, we closed another successful Oregon Short Sale.  One Happy Buyer plus one Happy Seller equals two Happy Realtors!  Thanks to my fellow colleague Blanche, for doing a fantastic job in calming the Short Sale seas.  And a very special thanks to my Negotiator Lillie, who knew the right buttons to push and had the persistence to keep pushing them.  Oregon Short Sale miracles never cease! 

I LOVE Happy Short Sale Endings, don't you? 

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Rainmaker
1,177,654
Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Mel-I like short sale happy endings, particularly when the odds seem stacked against finding the right match. Good job!

Mar 29, 2012 10:30 AM #3
Rainer
95,987
Jamie R. Bell
Bell Realty Group at Berkshire Hathaway HomeServices NEP - Glastonbury, CT
Your Central CT Realtor

Mel~great job on the post and getting the short sale done! I just lucked out and my buyer got a short sale approval from the bank in a short 5 week turn around. Looking forward to closing on this deal!

Mar 29, 2012 10:48 AM #4
Rainmaker
4,093,867
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Mel,

Congratulations on the needle in the haystack.  You have a great image for that.  We are delighted that all things got accomplished and you have a happy ending.  Now, get that bottle of champagne, and let's toast o your success and wish you many more successes.  A

Mar 29, 2012 10:55 AM #5
Rainer
111,688
Caprice Couselle Realtor Morristown Homes For Sale
Keller Williams Realty - Morristown, NJ
First Time Home Buyers,Relocation,Horse Farms

Hi Mel,

Nothing like a happy ending  to make everyone feel good. It seems in this case everyone was on the same side. The side of getting the job done. They should all be like this one. Caprice

Mar 29, 2012 10:59 AM #6
Rainmaker
568,645
Paula Bradfield
Bradfield Ramsey Group - Salida, CO
Your Salida Colorado area Realtor Team

Mel, lovely. I am a CDPE and LOVE hearing success stories where everyone wins. Thanks for the story.

Mar 29, 2012 11:09 AM #7
Ambassador
2,820,060
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I am hoping for a miracle myself on one.  Hoping to get the sale postponed before Tuesday.  ARG.

Mar 29, 2012 11:43 AM #8
Rainmaker
1,461,063
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Congratulations Mel! Thank goodness for all cash buyers with patience.

Mar 29, 2012 12:07 PM #9
Rainmaker
683,924
Andrea Bedard
Thompson Company, REALTORS® - Silver Spring, MD
M.A.; REALTOR® Silver Spring, MD and beyond

Hi Mel, love happy endings - especially when the short sale roller-coaster comes to an end and we managed to hang on the whole time! Congratulations! Sounds like a case of the perfect buyer for the perfect property!

Mar 29, 2012 12:11 PM #10
Ambassador
1,584,444
Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Division Specialist

COngrats on another successful closing.  I got a counter offer today on one and it was 30K higher and of course they buyer went bye bye.  Don't blame them in the least.

The good news is the listing has now been turned over to me instead of the previous listing agent who had no idea how to price or process a short sale.

Mar 29, 2012 12:28 PM #11
Rainmaker
534,489
Melinda (Mel) Peterson
Real Estate Cafe LLC - Bend, OR
Curator of Happy Endings

Thanks Simone!  I know how it feels to wait... sometimes on pins & needles ;)

Lots and lots of patience... Kathy! 

I hear ya Adrian... and I'm rejoicing too!

Wow... 5 weeks... that's pretty fabulous Jamie!  Whoa!

I'm with ya Alexandra!  I'll see you too soon... we can toast together ;)

Mar 29, 2012 12:38 PM #12
Rainmaker
534,489
Melinda (Mel) Peterson
Real Estate Cafe LLC - Bend, OR
Curator of Happy Endings

Caprice ~ We all worked together to get er' done!  Teamwork rocks!

You go... Paula!  I don't have the Desi... but I'm know the process. 

Tammy ~ I'll be saying a little Short Sale prayer for ya Sweetie!

You gotta love em'... Marte!

Me too Andrea... this was the perfect miracle ;)

Bummer Kevin... but it sounds like you won the listing!

Mar 29, 2012 12:42 PM #13
Rainmaker
2,681,530
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I agree in all respects! Nice to be back commenting here!

 

Love and light as always,

Laura

Mar 29, 2012 01:25 PM #14
Ambassador
1,871,147
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Mel, congratulations and good things come to those who wait (and have CASH LOL).

Mar 29, 2012 01:26 PM #15
Ambassador
1,583,351
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

I have a client considering making an offer on a short sale property--after my last experience a few deep breaths may be in order...  So glad yours had a happy ending.

Mar 29, 2012 08:03 PM #16
Rainer
2,776
Rashin Amini
White House Property Management - Lake Forest, CA

Congrats Mel! I'm so glad to hear your happy ending of short sale.

Mar 29, 2012 09:35 PM #17
Rainmaker
592,052
Brian L. Sirota, Esq.
Bristar Realty (Realtor/Attorney) - Orange, CA
For Solutions: (714) 501-7660

Melinda, I love happy endings, and I love large needles in small haystacks!  Well done Your Chickyness!

Brian

Mar 30, 2012 02:34 AM #18
Rainmaker
534,489
Melinda (Mel) Peterson
Real Estate Cafe LLC - Bend, OR
Curator of Happy Endings

Nice to have you back... Laura!  And nice to be back too ;)))

Cute Gary... and so true!

They're not all happy... Norma, but we've had a pretty good success ratio in getting the closed!  It's the squeeky wheel ;)

Thank you Rashin!

Me too Brian... and while I hate needles... I love short stacks... of the pancake variety ;)))

Mar 30, 2012 03:10 AM #19
Rainmaker
484,117
Cindy Westfall
Premiere Property Group,LLC Portland Metro & Suburbs Oregon - Tualatin, OR
ABR,GRI Your Tualatin & Portland Metro Real Estate

Hi Mel, it's a beautiful thing when every one of the people involved work together like a well oiled machine to get a short sale closed. Sounds It's even more serendipitus when you have that right buyer that is willing to be patient. Love happy endings!

Mar 30, 2012 01:20 PM #20
Rainmaker
1,296,316
Nick T Pappas
Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Hun... - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Mel, I have one short sale listing now, but have involved a short sale attorney to smooth out the wrinkles...he's done a great job with others and I expect this one to follow suit.

Mar 31, 2012 05:29 AM #21
Rainmaker
534,489
Melinda (Mel) Peterson
Real Estate Cafe LLC - Bend, OR
Curator of Happy Endings

It was truly a miracle in this case... Cindy... as the property was a non-traditional resale.

Good for you... Nick!  'An attorney to smooth out the wrinkles' ;)

Mar 31, 2012 02:01 PM #22
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Rainmaker
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Melinda (Mel) Peterson

Curator of Happy Endings
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