The Short Sale was the Easy Part…It was the Mortgage Broker that was a Nightmare!
This listing was a short sale. This one was a wild ride till the end! The buyers competed for this home in a multiple offer situation and actually went into contract for $256k. Although, this was a market value price and buyers willing to pay this price and maybe more, since the market was in a transition mode a few months back, there were actually no recently sold comparable homes to support the value, so when it was appraised, it actually appraised quite a bit lower. Well, that’s no good, so we went back to the bank that was making the decision on the short sale and got them down to the price of $230k, which was exciting, because we knew this home was

Another Successful Short Sale Closing
This was another successful short sale closing. The roller coaster ride started in March! It took 5 months for the first and second lender to approve this short sale. While we were waiting for the second to approve the short sale, the deal almost went to the foreclosure department, and required one payment, which the BUYER paid to keep the deal alive. The payment was well worth it, in that we did get the approval. Once we got the approval from both lenders, the transaction was relatively smooth and closed without a hitch. It was a crazy 5 months waiting for the approval, and there are a number of stories to tell about what we went through during the wait, but in the end, the