The same crap with lost documents and poor communication as I wrote in my last blog about US Bank. Only difference was this time once the file got in front of a negotiator the person sitting behind the desk was competent. I better go play powerball now, because that was like winning the lottery when it comes to this bank.
Anyhow, this particular client was deep in foreclosure. When we listed the property a motion for judgement of strict foreclosure had just been filed, and the prospects of closing this deal seemed weak at best. We were able to get a contract in the first 2 weeks, and quickly submitted all docs to US Bank...again, and again, and again. 3 months roll by and our first buyer walked.
We were able to quickly get another buyer, and at about the 130 day mark, we finally got a negotiator assigned to the file. Appraisal done, buyer came up a little bit to meet the minimum net, and we sailed to a smooth closing.
Here's the details:
Sale price: $124,000
Closing costs allowed: $11,000
Net to US Bank - $113,000
Loan Balance - $220,000
Deficiency forgiven - $107,000
Why settle for less than 5 stars?
Featured in Connecticut Magazine's March 2011 and March 2012 issues as a top real estate agent in overall satisfaction. Contact me for more information about attempting a short sale in Connecticut
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