It always boggles my mind why some banks seem to have the short sale process streamlined while others want to make it a painful labor! In my last transaction, Wachovia's Short Sale department made the transaction and experience a smooth one for all. Although I give them kudos for their willingness to work with the sellers, we all know that it takes all parties to come together to truly make it a successful transaction. Here's why I got spoiled:
- There was only one loan on the property
- This was a Wachovia 'Fast Track' transaction and their terms were clearly spelled out
- The listing agent admitted upfront that she had no short sale experience, but assured me her co-listing partner did (I love honesty!)
- The listing agent didn't hide out in cyber world...her preferred method of communication was via her cell phone and always responded quickly to my calls.
- Once the offer and package was submitted to Wachovia, we got approval within 2 days
- From short sale approval to close of escrow...31 days (we closed a week early!)
- The home was in good condition
- The buyer was pre-approved for a loan and listened to the advice of his REALTOR and Loan Rep to not do anything to jeopardize his current credit status
- The Buyer's Loan Rep was local, offered personalized service and got a fantastic rate for the buyer (4.75 on a fixed 30-yr loan). A professional and honest loan officer is worth their weight in gold!
- The Title Company was local, professional and responsive
- The Seller, being in a distressed situation, acted responsible and was very cooperative.
- When some issues came up during the inspection period, all parties stayed calm and worked together for a win-win solution.
I want to congratulate my buyer, Chris, on the purchase of his first home! Unfortunately, he didn't qualify for the tax credit and I admire his thinking that it was more important to find the right home! I thank him for his patience and entrusting me to represent him in the purchase of his new home!
Thanks to all parties that made this a successful transaction. It's nice to be spoiled every once in awhile!
Connect with me...
I live, work and play in Walnut Creek, CA! For Real Estate and community information about this beautiful city as well as the surrounding areas, please visit my website at www.TerriAdamsScott.com
Terri Adams-Scott, REALTOR®
DRE# 01397740
J. Rockcliff Realtors
1700 N. Main St., Walnut Creek, CA 94596
