Has anyone done a short sale with Greentree recently?

By
Real Estate Agent with John L. Scott Sp34627

I am negotiating a short sale contract and the seller countered with a committment for a 60 day wait before the buyer can terminate the contract.   This makes me very nervous since the prices are rising quickly in my area and I am afraid my buyers could be priced out of the market if we fail to settle.   Has anyone worked with Greentree recently?  What would be the wait time with them.  I would like my buyers to have the ability to walk if I found something they could buy.  I would love to hear that they are settling reasonably quickly ,  Thanks!

Posted by

 Debbie Holmes

John L. Scott Real Estate

  

(208)761-2551 Email: d5holmes@msn.com

To search Boise Homes visit my website

 

Comments (4)

Drick Ward Property Management / Broker Assoc
NEPTUNE REALTY - Virginia Beach, VA
"RealtorDrick" - Experienced Representation

I have a short sale listing under contract right now and Greentree is the lender.  The approval process was about as quick as the other brands of short sales have been in the past 9 months or so - about 30-45 days.  I haven't heard of the shorted lenders putting restrictions of when a buyer can back out, so I would suspect that's purely from the listing agent side and may be a tad restrictive.  The one thing I have noticed as peculiar about that lender is they are particularly agressive on the collections side and the person collecting the components of the short sale package are working in the collections side of the house.  Only once they have everything do they pass the file to the loss mitigation team where an actual negotiator is assigned.  I find that practice a tad predatory, but as long as it's approved in the end, my client is well served.  Good luck with your buyer, no matter which direction you go...

Jan 31, 2013 08:51 AM
Debbie Holmes
John L. Scott - Boise, ID
Gets the job done!

Thank you Drick.  I so not have any experience with Greentree so this is helpful.  I sure hope we get approval in 30-45 days.

Jan 31, 2013 09:03 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

I'm looking for more information on Green Tree as well. It was helpful to see Drick suggestion. My sellers already failed with loss mitigation, so hopefully we'll move a short sale road....Good luck to both of you on closing.

 

Jun 27, 2013 05:16 PM
Anonymous
Debbie Holmes

I closed my deal last week.  They kept losing paperwork but in the end it was an easy close but it took 4 months.

Jun 27, 2013 10:19 PM
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