This is a short sale I started to work on last summer, and it's taken all of this time to get it closed. People always ask me why the banks are so bad when it is not the banks who cause the problem. The problem with all of these short sales that cannot close is buyers walk away right in the middle of negotiations. They say they will wait for approval but they can't.
You can read more in my personal blog today at this link: The Story of Closing the Northstead Short Sale in Natomas.
Congratulations on closing your short sale. You don't see to many of these anymore which is good, because they are tough.
Michael Jacobs
Pasadena, CA
Elizabeth Weintraub Sa...
Sacramento, CA
COngratuatlions on your closing and your patience and perseverance!
Michael Jacobs
Pasadena, CA
Elizabeth Weintraub Sa...
Sacramento, CA
Jane Peters Well, short sales got so much easier, probably between the years of 2008 and 2011. Then, all of the short sale departments abruptly closed. Few use Equator anymore. What I'm finding in today's few and far between short sales is the sellers have a lot more problems inherent in the transaction.
Michael Jacobs
Pasadena, CA
Jane Peters
Los Angeles, CA
Yolanda Cordova-Gilbert I am a very dependable Realtor. When I give my word to a seller that I will stand by them, through thick and thin, I do it.
Michael Jacobs
Pasadena, CA
Yolanda Cordova-Gilbert
Richmond, TX
Elizabeth, I used to tell my clients if you want to by a Short Sale I would suggest buy a gun instead and shoot yourself.... so do you still have your hair or did you pull it out during this transaction? Endre \p.s.: Congratulations on closing a Short sale in 2018!
Michael Jacobs
Pasadena, CA
Elizabeth Weintraub Sa...
Sacramento, CA
Elizabeth, I remember when we saw short sales, buyers could not wait around either. Congratulations!
Elizabeth Weintraub Sa...
Sacramento, CA
Endre Barath, Jr. Have to admit toward the end I was ready to pull out my hair. The negotiator just COULD NOT, no matter how many times we explained tax prorations, understand how it worked. All she could see was the strict guidelines this VA short sale required, and she could not comprehend tax prorations. Finally, the only thing I could think of to do was to put the actual taxes on the closing statement and forget about the credit / debit situation, which resulted in another $500 charge to the buyer but we got it approved. Then the buyer did not want to close because of it. Hello? Appraised at $280K and you're buying at $255K?
So yes. There are always those situations.
Michael Jacobs
Pasadena, CA
Joan Cox LOL, like the first thing out of a buyer's mouth is: why is the bank so stupid?
Look dingbat, it's not the bank, it's YOU. Because YOU will not wait for approval regardless of what you promise. Can pretty much count on that.
Joan Cox
Denver, CO
Author Bio: Elizabeth Weintraub is a Sacramento real estate broker, author, home buying expert for The Balance, a Land Park resident, who specializes not only in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento but sells extensively from Elk Grove to Lincoln. Weintraub is prominently known as the #1 Sacramento Short Sale agent throughout the Sacramento four-county area. Call Elizabeth Weintraub at 916.233.6759. Put 40+ years of real estate experience to work for you.
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