A young couple with three children emailed me in April 2011 wanting to find a house for their family. We met and began the search for what turned out to be a nice long wish list but funds were limited. After viewing numerous homes and even making a couple failed offers I found them a Short Sale property that was perfect. A four bedroom, three bath, with a large yard in their price range.
The sellers immediately accepted the offer we made on the house but then it was up to their lender to approve the Short Sale and the selling price. My clients had gotten pre-approval for a mortage so we could make the offer and then they began the application process waiting for the seller's lender to approve the sale. Months passed, then more months, their mortgage process had to be redone, but finally the Short Sale approval came from the seller's lender along with a counter-offer to our original contract. The counter was accepted by my clients and everything was finally moving forward when it was discovered there was a lien on the deed for the house.
The purchase was hanging in limbo as the Short Sale Agreement between the sellers and their lender expired, the sellers tried to work out a payoff with the company that had a lien on their deed, and my buyers applied again for a mortgage. All I can say is that was a year ago and tomorrow we go to closing. :-)