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The Tale of a Near Death Accident, a Bank Robbery, a Washing Machine & the Completed Short Sale

By
Real Estate Agent with RE/MAX Allegiance, Managing Broker/Branch Vice President

Reality really is much stranger than fiction!

In a well-worn cliche, that summarizes my clients' day yesterday.

All they wanted to do was buy their first home together.  They got married this past summer and we excitedly searched for their marital abode.  In the lovely community of Belmont Bay in Woodbridge, we found it.  A great end unit townhouse at a great price.  Just one problem...

It was a SHORT SALE.  (Cue scary music -- Dun. Dun. Dah.)

I warn all of my buyer clients about the perils of getting engaged in the short sale purchase process.  Between the delays, the required flexibility, waiting for bank approval, and other issues that can arise, buyers need to have a strong will to proceed.

Proceed we did.  The offer was made on August 31st.  It was accepted by the seller on September 3rd.  Alas, we entered the abyss of the short sale purchase game. 

Fast forward several months.  The contract called for 60 days for bank approval and settlement 14 days later.  Bank approval came on day 72!  Then we find out that the seller has moved back in to the previously vacant home.

Negotiations ensue.  You don't want to hear it all.  Suffice it to say, there were numerous phone calls, e-mails, and late night strategy sessions.  It was supposed to settle last Wednesday  By last Friday, the transaction looked doomed.  The seller was still in the house.  My clients and my broker signed a Release of Contract form and we faxed it to the listing agent.  No house... no sale... or so it seemed.  Over the weekend we got word that the seller would vacate before Wednesday and let's go to settlement on Wednesday.

That brings us to yesterday.

Near Death Car AccidentDecember 10th.  9 a.m. Woodbridge.  The clients meet me at the home for the final walkthrough with their truck pulling a trailer full of their belongings.  They are visibly shaken as they recount a tale of a near death accident on Interstate 95.  A woman in a small car cut them off on the highway almost causing their trailer to swerve which would have knocked her into the Jersey wall.  It would have killed her and likely my clients.  Only by the grace of God did a van notice the problem slow down and allow my clients' vehicle into their lane.  Tragedy was averted.

Once my clients' pulse rates returned to normal, we methodically went through the home only to discover a missing washing machine that was supposed to convey.  Uh oh!

 

A Bank RobberyAt lunchtime, my client headed to his bank to obtain a cashier's check for settlement.  What could go wrong?  How about a bank robbery!  Can you believe it?  As my client's cashier's check was being processed, a bank just down the street was in the midst of being robbed.  When one neighborhood bank is involved in a heist, the others in the vicinity go on immediate lockdown -- computers turn off, ATMs need to be reset, and commerce stops.  Amidst the sirens of police and fire trucks, my client hears the crash of the robber's getaway car. 

Hasn't he had enough excitement for one day?  It's still 5 hours until settlement!  Fortunately the check gets processed.  Woe be to that criminal had he gotten between my client and that check.  Did I mention that my client is a former U.S. Marshal with keen fighting skills?

 

 

Washing Machine

 

 

Arriving at settlement, the settlement attorney asked "Is everything okay with the house?"  Well, yeah, except for a missing washing machine.  Oh boy!  Almost 4 months of waiting and negotiating now hinged upon a clothes washer!  It didn't help that the seller arrived to settlement more than 1/2 an hour late.  Back and forth, back and forth, back and forth.  The seller offers to buy a washer on Craigslist... then he comes back with an insulting paltry sum of money.  More delay... more discussion.  Oh yeah, and where's the listing agent?  Not there.  Some office assistant who I've never spoken with before in her place.

 

 

Finally, an agreement!  Papers are signed.  My clients have their new home.  We never have to deal with the seller again.  My thrilled clients and I head off to a celebratory sushi dinner to recount the events of the last 4 months and to discuss

The Tale of a Near Death Accident, a Bank Robbery, a Washing Machine & the Completed Short Sale

Comments (20)

Sharon Harris
Keller Williams Keystone Realty - Hanover, PA
Realtor

Wow this is a settlement to remember for sure. I bet they will find all this very funny once there nerves settle down.. It is never boring is it?

Dec 11, 2008 01:15 AM
Home Loan Search.Online
Home Loan Search Online - Newnan, GA

You're right, reality is stranger than fiction! At least everyone made it through the closing unscathed.

Dec 11, 2008 01:20 AM
Randall Schrader
Competitive Insurance of Dundee - Dundee, FL

That could be worked into a prime time movie.  You should look into this!

Dec 11, 2008 01:22 AM
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Wow going through the immense emotions of navigating through the perils of a short sale and then battling not to get killed before the closing. Sounds like a trying few months. I hope the Realtor came out with his sanity too:)

Dec 11, 2008 01:30 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Wow...I thought your title was just to grab attention, not actually true!  I can't believe it.  Good for you for making the deal go thru even after all that! Now that is how to deserve your commission!

Dec 11, 2008 01:30 AM
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Whew!  What a story!  Like my first manager once said to me, "If it was easy, they wouldn't pay us so much for doing it!"  I'm happy for your clinets - and for you!  Congratualtions!

Dec 11, 2008 01:45 AM
Denise Gray
Realty World Alliance - Wichita, KS
Realtor SRES, Wichita Kansas Homes

As serious as this all is I could not stop laughing. If we could only sell the stories that go along with each deal.

Dec 11, 2008 01:49 AM
Richard Shuman
The Only B.S. I Have is from the University of Massachusetts - Lake Mary, FL
Real Estate Broker - Orlando Area - Love Referrals

What a fantastic story! It has all the makings of a hollywood movie.

A more superstitious person might have decided that they were just not meant to have this home. Kudos to the buyers for sticking it through and double kudos to you for not ending up in a rubber room  drooling on yourself after all this chaos!

Dec 11, 2008 01:58 AM
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

Great story, and good job sticking with the transaction! What a turn of events!

Dec 11, 2008 02:03 AM
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Brian - that one is the most bizarre short sale tale I have ever heard! WOW!!! Glad it finally closed!!!

Dec 11, 2008 03:06 AM
Sonja Adams
Keller Williams Realty - Purcellville, VA

Wow, what a story! Thankfully the buyers stayed focused and didn't have a meltdown!

Dec 11, 2008 04:08 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

I guess this is a day the buyers will never forget!! And see I knew short sales get closed every now and then.  Good job Brian!!

Dec 11, 2008 09:44 AM
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Brian,.. Wow... it's almost like the 12 days of Christmas gone bad....  what a story and all just with one buyer...

jeff belonger

Dec 11, 2008 03:59 PM
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Brian,

Sounds like another boring day at the office!!! :) Thanks,   Fran

Dec 12, 2008 10:18 AM
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Brian.... I will be down in the DC area on the 21st and 22nd... I am going to put together an AR gathering together for noon on the 22nd... I might be staying in Annapolis...  or in that area. Any recommendations?

jeff belonger

Dec 12, 2008 10:48 AM
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Unbelievable!  This couple was destined to have that home.  Hope they live a long and happy life there.

Dec 12, 2008 11:15 AM
Arizona Real Estate Associate Broker
MR Realty - Mesa, AZ

Congratulations for being strong for your client and seeing them to the end! Thank goodness no one was terribly hurt in the ordeal...Happy Holidays!

Dec 15, 2008 05:41 AM
James Downing - Metro DC Houses Team REALTORS®, CRS, GRI, ABR,MRP, MilRes
Real Living | At Home - Washington, DC
When Looking to Buy or Sell - Make the Right Move

Wow - What a tale!  Thats pretty nuts and a bit scary.  Glad it all worked out!

Dec 15, 2008 09:44 AM
Kay Steele Faulk
InHouse Writer - Lake Village, AR
The Real Estate Copywriter

This was better than a good television drama. You're a good storyteller, Brian. Thanks for writing it down for us!

Dec 15, 2008 11:09 AM
AMBER NOBLE GARLAND - Top Real Estate Expert, Property Tax Appeal Specialist & Author
Strategic Marketing Expert & Relocation Specialist Serving New Jersey and nationwide! - Marlboro, NJ
- The Agent You Can Trust To Deliver REAL Results!

Wow Brian...that was scary!

Dec 19, 2008 07:06 AM