it’s been nearly 4 wks since my loss mit officer gave me a verbal that our short sale contract was accepted & that he was walking it over to the closing dept 4 me. is this normal now with all short sales to recieve approval letter etc.
my realtor is pulling out her hair & the buyer is like I’m ready to close how much longer. Anyone out there have an answer???
As another Realtor once told me, “it’s easier to get into heaven than to close a short sale”. Well, I understand his frustration…I usually tell my buyers if they’re not willing to wait at least 90 days, well, let’s go and find another home, and even that might not work. Last year in August, I started a short sale for one of my clients. In January, they said they’d had enough and signed a new lease for a year. Their landlord kept raising their rent and their earnest money was dwingling.
One of the things with a bank is that you don’t have a contract with them, so they go at their own pace. Tell your Realtor to take two aspirin and send me $5.00 for the advice and hopefully, it will work out. Not exactly what you want to hear, but then short sales are NOT an exact science…
Call Citi and tell them your buyer is walking if you don’t get that payoff TODAY! That you have done everything you can to make them happy… If that does not work call and talk to Mr. Buchanan (Loss Mit V.P.) and ask him why his closing department is not doing things in a timely manner. Remember you are not doing Short Sales to make friends. I personally have friends they are a pain in the @ss. I am in this to close deals and make money.
Hey thanks a lot summit, as always I been calling daily or every other day. After reading your post I decided that I wouldn’t key ex of my loss mit agent, but rather since they have a new system guys gives U 16 seconds to leave message. I would just hold & wait for someone come online & got bless.
The lady was very nice & helpful to the tune she located my file (get this) guys/girls in the system just lying idle. She says everything looks like it’s been done here…I explain to her what is herein. well long short she resubmitted it to closing & to call her back on friday.
Gave me her direct number not ex. gys/girls…so what say you all. She says the agent I was wking with did evrything right.
I can not remember off the top of my head if you can escalate files with citi, but try. Find out who supervisors are and their contact information and find their supervisors info as well. If you do not already have contacts… its time to start barking up the chain of command and getting some names on the chopping block.
Hope this helps.