I recieved a phone call from an old client telling me he had just learned that the court had scheduled the foreclosure auction date on his Cape Coral, FL home and his lawyer advised him to attempt to short sale the property. The auction was scheduled for just 21 days from the afternoon I received his call and my gut instinct was this was a short sale listing that I should NOT take.

The homeowner was extremely stressed and pleaded with me to take the listing, so against my better judgement I agreed to do so and emailed him the listing agreement. He promptly returned the executed listing agreement and overnighted me a key to the home as well as all of the required documents the lender needed.

I placed the property on the market the very next day after the phone call and immediately got a strong cash offer and submitted the package to the lender. I was fortunate enough to get a negotiator assigned to the file immediately and was provided with his direct phone number and email address which was truly a blessing.

Fast forward to 4 business days before the scheduled foreclosure auction date - I receive an email from the negotiator telling me the file was approved but we must close in JUST 3 BUSINESS DAYS - no extension would be granted - the property must close 1 business day before the auction.

As luck would have it the buyer walked as the lender would not give him the 7 days he had in the contract to have inspections performed which I totally understood! I made several phone calls to other potential buyers and one of them stepped up to the plate - cash buyer who had already inspected the home and was content with it's condition. The lender approved the buyer swith and we closed as instructed - 1 day before the auction. The lender cancelled the auction and to make things even better they forgave the entire remaining debt in writing.

To think I almost didn't take the listing really hits home now as I feel tremendous that I was able to get the sale thru. This of course took cooperation from the lender, the seller and the title company so I didn't do it alone but I feel so good about being able to help my seller out of a extremely bad situation.

Terry McCarley, CDPE - Jones & Co Realty - Specializing In Assisting Distressed Homeowners - 239-707-4575 - Visit Me Online At www.ListWithMe.com