The Clock is Ticking - Will this Property Be Saved?

By
Real Estate Broker/Owner with Heart Realty Group, Inc.. IL-471.002355

You may or may not have read my post about an open house I had a couple of weeks ago on a short sale property that I have listed.  After the homeowners fired their last negotiator I was asked to take over the file.  I didn't mind, so I got the Release Authorization signed and even lucked out and was able to speak to the lender on Saturday (they were only opened for a few hours - the agent was shocked that I was calling).  Until the Release Authorization is in the system they can't talk to me about the file.

Reminder to self...when doing a short sale listing always get included in the authorization no matter who is doing the negotiation.

Called Monday....authorization not in system - refax - call back Tuesday

Called today - Tuesday....at 12:30 p.m.....see something but has not downloaded to system call after 4:00 p.m.

It's 4:28 p.m......nope....not in system....its only 2:28 p.m. PST......Geez....

So why am I so anxious....the sheriff's sale is on THURSDAY!  Will I be able to get an extension???

I have had 5 showings and possibly 2 offers that are coming in.....I am just waiting for the homeowner to sign off and fax it back!

The trick to get this done is lowering the price by $55K so the home is a bargain.  Will the bank play ball?  Will they even give me the extension??  Can I save this house?

I have done it before.   Can I do it again?

These are the questions that will be answered in the next few days.  Stay tuned....

 

 

 

Posted by

Evelyn Santiago

Managing Broker/Owner - 630-251-0059

Heart Realty Group, Inc.

We are Passionate About Real Estate!

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Rainmaker
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Michael Sahlman
www.HomesForVIPs.com - Keller Williams Realty - Miami Beach, FL
e-PRO - Miami Beach Florida Luxury Homes

Nice story. Persistence and a little luck always help. Hope it has a happy ending.

Mar 10, 2009 10:06 AM #1
Rainmaker
222,652
Michael Wayne Jackson
Coldwell Banker - Novato, CA
Realtor - Seniors Real Estate Specialist Novato

It's always a challenge when you're only a few days or weeks from a foreclosure sale. If the bank plays ball you should be able to close it.

Mar 10, 2009 10:12 AM #2
Rainmaker
321,367
Evelyn Santiago, Managing Broker Heart Realty Group, Inc.
Heart Realty Group, Inc.. - Oswego, IL
Passionate About Real Estate & Our Clients!

Thank you gentlemen for the encouraging words.  I am definitely persistent.  I will keep you posted!

Mar 10, 2009 10:17 AM #3
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Rainmaker
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Evelyn Santiago, Managing Broker Heart Realty Group, Inc.

Passionate About Real Estate & Our Clients!
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