So we all know that short sales are a nightmare. And I have yammered on enough about how horrible the banks are to work with in short sales and foreclosures. Nothing should surprise us. But today, I was surprised, appalled even, to hear this story involving a Wells Fargo short sale.
My offer has been in on this short sale property since Labor Day. I have received a few reports from the listing agent that the asset manager had requested the information be re-sent a couple of times. The listing agent is frustrated because the only communication the bank will have with her is via email. The problem is that she cannot get them to confirm which documents are missing so she keeps sending the whole package, only to be informed by the bank that they have not received the offer.
This house has been approved for short sale already, by the way.
Finally last night the listing agent received an email that because documentation was not received they were going to pull the plug on the file.
That is all very irritating but not surprising. The surprising part is this... The listing agent cannot get hold of the asset manager by phone. When she calls the general number they will not give her a supervisor, only the asset manager who will not return her calls. When I asked her why she won't press the issue about getting hold of someone higher up at Wells Fargo she told me that on two separate occasions her office had tried to demand speaking to a supervisor, stating that it was their right to do so. She was told by the Wells Fargo rep that SHE reserves the right to hang up on her. AND HUNG UP!
Am I over reacting or is that unbelievable? We are all so hopeless in these deals and some of the banks really are awful to us!
The shame is that the seller got bit by a house payment that doubled and is headed to foreclosure mid October. He's a single Dad trying to take care of his family and this deal could really help him but the bank refuses to do their job.
Wells Fargo is still in good shape financially, from what I understand, and trying to buy up other banks. They may want to pay attention to the departments that it already has.
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