This Bank of America Short Sale was difficult not due to the Lender..but rather the Buyer! A real lesson in why a Short Sale Buyer should always use a local Lender for their loan. The Lender MUST know the local market and inventory. But..I got it CLOSED anyway!
Original note Value: Approx. $415,000
Short Sale Price: $240,000
HAFA short sale meaning the Seller received $3,000 in relocation fees which was a tremendous help since they had spent almost $45,000 on improving the home approx. 3 years ago. Things change in peoples' lives..often without any warning and that mortgage that was manageable suddenly becomes unmanageable!
List to Escrow: Approx. 4 months.
Short Sale questions? Call me for your FREE property consultation. 760-285-3578.
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Congrats on the closing. I'm curious as to what happened w/ the online lender. I sing the same tune to my clients, always use a local lender! However, I have had people close using out of state lenders. It just is not nearly as smooth a process for all involved.