I listed a short sale with 2 loans serviced by Chase. CLTV is LESS that 50% of market value. Submitted a CASH buyer and assigned a negotiator in less than 3 weeks. Today, he is submitting my package to the investor.
We'll see...NOD in May 2012 but nothing posted in public record. Negotiating to include payoff to release an abstract of judgement from a deceased husband over a year ago.
Scheduled to close AUGUST 30.
No one ever saw it coming!
The Sellers were moot until Escrow/Title discovered a NEW LIEN!!!
"Picture it" Sophia Petrillo, a Golden Girl would say,
except instead of Sicily 1922 - it was San Francisco 2012
- There was pepperoni all over the place! -
https://www.youtube.com/watch?v=9lH9_rbDQF0
You wouldn't have believed it!
The preliminary title report showed three liens and we jumped over all three hurdles - only to trip a few paces before finishing and closing our latest San Francisco North Panhandle Multi-Unit Short Sale listing this year... (Ask and we'll give you the address - multiple offers no less!)
Like a mine under water, this lien NEVER appeared on the preliminary title or the subsequent preliminary title report issued for the buyer - but lo and behold - the SELLERS went into the title/escrow company to sign final documents and after running their Social Security Number it came up!!! I am always polite to my escrow officers, but even this one taxed little old me!
It was scramble time as the lien for $4,200 came up, the attorney whose name it was filed under was difficult to find and the entire bill had to either be negotiated or paid before closing in 3 days. Thank goodness we had cooperative sellers who could find some cash! - Guido - I don't know where it came from, on with the story!
Another 11th hour and 55th minute story which gave yours truly a few more grey hairs.
In the end, we received a wonderful commendation from our SELLERS For our professionalism and attentiveness to detail... All I can say is; Thank goodness it's DONE!
Lately it's been raining cats and pepperoni in San Francisco these days, but then it's not Sicily, 1922.
Michael Ackerman and Oliver Burgelman - Zephyr Real Estate
www.PriceSquares.com www.BuildingTrust4Life.com
415-307-5850 - 415-244-5846
Oliver and Mike are your home grown San Francisco Short Sale 'Busters' -
We can get it DONE! With or without the pepperoni - We deliver - Just call!
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