A short sale experience

Real Estate Sales Representative with Kettley

I was working a short sale for about 6mos.  I was new at the game so I didn't know the hole part of being able to lower the price.  I was scared that if I went to low the bank would reject it.  About a month before sheriff sale I brought the price down.  Got an offer!!! The mortgage co. countered, the buyers just weren't ready to come up.  The day of sheriff sale they came up.  IL is a redemption state. The mortgage co. allowed the offer to go through... We were just about done waiting for the mortgage co to finish up.  Then, low and behold the redemption time was up.  I got kicked out. It went to another real estate broker, they followed through with the sale that was on the table and I lost out.  I was pretty mad.  But, on the flip side the people got there home.  Being my first short sale I got more knowledge then any one could have taught me.  Really, my bank account saw no $$.  But my experience was priceless.  Some times a lesson learned is more important then the bottom $.

Comments (5750)

Leslie Jeffers ( Exit Uptown Realty, Vineland NJ)

Wow, that's to bad you didn't make a dime. But thanks for sharing your story. Very interesting.

Jun 19, 2008 02:13 PM