The first offer was submitted to BofA on our listing on October 8, 2008 which was declined because it was too low. The seller had already been 2 years without making a mortgage payment. After 3 more offers, the seller filing BK and much drama, BofA finally accepted an offer more than $100,000 less than the original offer - and - the seller stayed in the property more than 4 years "free".
It closed on 12/30/2010 after 813 days or 2 years, 2 months and 22 days. This was the longest short sale of teh 100+ I have closed and truly is a "career" short sale.
Thank goodness things are moving a bit faster now :-)
Thom Colby
Broker / Short Sale Negotiator
Newport Beach CA
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All, thanks for the great words - that was a long one and it got to the point that I never thought it would close, so I let go of the personal frustration and just "let it happen" on it's own time.
@Wendy - Carrington formed their own Real Estate Brokerage a couple of years ago called "Atlantic and Pacific Real Estate" located in Santa Ana, CA (shares the same building as Carrington) so for those of us here in CA, it has been difficult at best to get any short sales approved from Carrington. Their strategy with borrowers has been to "strongly encourage" borrowers into a Deed in Lieu and then list the property with A&P RE.
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