Is anyone having any success negotiating with Countrywide on short sales? They seem to be totally disorganized and in state of confusion. By the time their negotiators get the appraisal on the property is stale and even then it goes into a black hole. We just lost another buyer who got tired of waiting.
Let me know if you are having the same experience or have suggestions for those of us who are struggling with Countrymess.
Happy Thanksgiving Julie. I love your background, did you actually take that picture of the eagle?
Hi Julie... Sorry to hear your frustrations with Countrywide. They have a very structured process for their short sales, and if you understand it, they can be very easy to work with. One of the most important steps is completing the "financial review" and getting the "refer" for the short sale, before submitting the package. Once that's done, make sure to submit a FULL, clean package and they can be very easy to work with.
We have had approvals as quickly as 3 weeks and 30-45 days on average. On deals that have cancelled & we have had to resubmit offers, as quickly as a week. The 2nd that we sent on Friday already has the BPO ordered on the file... Here's my post on Conducting a Short Sale with Countrywide and you can view some of our approvals with them at San Diego Short Sale Experts.
Hope this helps and good luck!
Glen
John - My husband, Michael took the picture of the eagle.
Glen - I found your article very well done and helpful, thank you for passing on the link to me. We had given up on Countrywide but this gives us some home to take on new short sales with CW as a lender.
Julie Jalone
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