This Sacramento Short Sale has been approved by both banks, the first and the second.
This was a grueling Short Sale but now both the new home buyer and seller have signed all documents and by Tuesday this property will transfer over to the new home buyer.
What a relief for my seller who has moved out of California and is taking care of her terminal father.
Bank of America held the 2nd mortgage and wanted a great deal of money from the seller before they would accept the Short Sale. However, as a Sacramento Short Sale Realtor ®, and a Certified Distressed Property Expert, I was able to negotiate with B of A to a much lower amount.
One of the key elements in a Sacramento Short Sale is to keep the selling agent and the home buyer updated weekly on the status of the Short Sale. Some weeks there may be little to nothing that has transpired but even then, as a real estate professional I send an update to the other Realtor ® with what I have tried to do and got no response from the bank(s).
In my opinion this is not only the professional way to handle a Short Sale but communication is always key in order to keep the home buyer interested in the home or condo for sale. When there is no communication, home buyers are left to look for more homes for sale due to the listing agent’s lack of information.
The Short Sale process is hard on both the seller and the home buyers. A Short Sale is tedious and long but with good communication both seller and home buyer will feel informed and appreciate the listing agent taking the time to keep all parties updated.
This week we will have a relieved seller and an anxious new homeowner ready to move in. It’s a good week!
If you are or know anyone having trouble paying their home payment, have them give me a call to see if they qualify for a Short Sale.
Other Important Short Sale Articles:
What Does Mortgage Debt Relief Mean to Short Sale Sellers?
Good News For Some Sacramento Short Sales
Need A Short Sale?
Sacramento Short Sale Update