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 buyer got a beautiful home in a great neighborhood and the value went up between $50,000-$75,000 since March. So, he literally walked into equity since the market has been continually going up since March and he actually had locked into a good price back in March.
Yet another buyer…who went through a short sale transaction…with a happy ending. He moved in last weekend and is loving it!
