Countrywide Short Sales

Short Sales with Countrywide. Most important is PATIENCE!!! I sent in a signed offer Sept. 8, 2008. By November I had been assigned a "Negotiator". It took almost three weeks before he actually contacted me. Our contact was both e-mail and by phone mostly I left messages and very rarely were they returned. Mind you I called in three times a week for a  or sent an e-mail. By the 20th I had a conversing relationship. What he told me was submit a HUD1  with Buyer and Seller signatures (this I did probably 20 times before it closed) first take off the recording fee, express mail fee, no buyer closing costs, $500.00 for termite and repairs.

What I had learned from the Prelim Title report was my seller had two liens on the property from a business loan and a lease gone bad. Both were put on by attorneys so I contacted the Lawyers and negotiated an amount to be paid at close of escrow out of my commission. Next the property taxes had not been paid for almost two years. Countrywide did paid those up to date. We still battered over the selling price, mind you the market was dropping daily. The BPO was done in August. An appraisal was ordered more price negotiation and agreed. Then it went thru the FRAUD Dept. that took another three weeks. Then it was reassigned, to the FINAL NEGOTIATOR, I had a name but had to wait till they contacted me. She would onl;y deal on the phone  and fax no e-mail!! It was December 10, 2008. The price was still not to her liking, buyer held tight. The only thing we could do was have an other appraisal the first one was three weeks earlier. I insisted it be with a LOCAL appraiser!! With in a week the appraiser came out, I was still hoping for a 2008 closing, ha ha!!

The Holidays took care any hopes of that. By January 7 the appraisal was in and the price was OK. The second had an agreed upon price and was very accommodating (Select Portfolio). Countrywide wanted it in writing that the second was on board with another HUD1 and gave written approval first!! When I had that Countrywide gave written approval for a 30 day closing, with no mention of paying the second? Then two more personal unsecured county tax liens showed up, they are not negotiable, and to boot the city had written up notice of violations because the yard was over grown, the buyer agreed to clean it up on their dime. This was beginning to look like the SHORT SALE FROM HELL! I put my flame suit on and put out the fires as fast as I could!! Finally the first agreed to pay the second!! After submitting the 18th HUD1 I get another written approval three days before closing that says termite is approved for $1000!!? Ok then can I submit a higher amount the termite ended up being $1200. After submitting another HUD1 CW agrees. Then before it can fund and record I have to send another final closing HUD1 for approval. Thankfully she approves it and we can close. That's my story and I'm sticking to it!! Whoosh!! For anyone that thinks being a Realtor* is easy money, think again!!