Elizabeth Weintraub • Sacramento Real Estate Agent: March 2008

Bank of America Approved the Short Sale -- Peel Me Off the Floor

short sale approvalI just about fainted this morning when Tony called me from Bank of America. He found the misplaced paperwork. He said the short sale has been approved. He went on to say he is handling 400 files and is swamped. He also said he had the option of approving a lower commission, but he approved the higher percentage. I started to feel very dizzy.

It's fabulous news that the sale is moving forward now. Tony called the seller to explain there will be a judgment situation, and apparently Bank of America will negotiate the unsecured promissory note separate from the short-sale transaction, but it is certainly has all the appearances of closing escrow by Monday.

We are dealing with an exasperated buyer who has pretty much reached the short-end of his stick. The deadline for approval is tomorrow. I honestly did not believe this was going to happen, but it did. We squeaked under that deadline. I'm holding the short-sale approval in my hot little hands as I type, which makes it very difficult to find the keys on my keyboard.

It's a magical day in real estate land.

elizabeth weintraub sacramento real estate agent

elizabeth weintraub

 

 

Weintraub and Wallace Realtors

 

 

Elizabeth Weintraub reviews

 

 

 

Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

Bank of America Approved the Short Sale -- Peel Me Off the Floor
share
I just about fainted this morning when Tony called me from Bank of America. He found the misplaced paperwork. He said the short sale has been approved. He went on to say he is handling 400 files and is swamped. He also said he had the option of… more
Bank of America Says If It Goes to Foreclosure, It Goes to…
share
I have a seller who wants to pay Bank of America the shortfall difference on a short sale but B of A says let it go to foreclosure We don't have time to talk about it. I realize that many agents are struggling with short sales right now… more
How Many Keyboards Do You Buy Each Year?
share
I ask because it seems I end up destroying buying a new keyboard every year. I can't believe it myself. I'm such a slob that I continually ruin keyboards. I know that electronics and moisture don't see eye-to-eye, yet I keep hosing my keyboards. Is… more
Agents Who Credit Commissions to the Buyer
share
Buyer rebates are a complex and easily misunderstood aspect of some real estate transactions. Some buyers believe that agents routinely kickback part of their commission to the buyer, but the bulk of agents do not. There are situations that arise… more
Sacramento Market Still Moving UP!
share
I can't believe this. Look at that upward spiral for February. The pending sales in Sacramento are moving up. Inventory is reducing. Investors are coming back into the market, but they are always the first to recognize market conditions and act on… more
Buying, Fixing Up and Selling, Five-Part Series
share
I want you to know that I don't often hold a hammer in this manner. My husband shot this photo toward the end of a long day when I wasn't paying attention to what he was doing; I just wanted to be finished hammering nails into the my new garage… more
Plucking Blogs off ActiveRain
share
On the topic of crooks, I have noticed that certain Web sites, one of which is realestatepick. com has been swiping blogs from ActiveRain and posting them online. They do this because they receive revenue from selling advertising on their site… more
Another Scam Hits Real Estate Agents And the Public, too. Look…
share
In early February, I warned you about a scam involving Craigs list. That scam seems to have reached epic proportions, since it's all over the Internet now. Several agents at my company have also had their identity stolen in this manner. Well, just… more
I'm Not Gonna Take It, Never Did and Never Will
share
I woke up this morning with a song running through my head. I could hear the guitar licks before my feet hit the ground: We're not gonna take it We're not gonna take it We're not gonna take it We're not gonna take it We're not gonna take it Never… more
Why Some Listing Agents Won't Show You the Listing
share
Don't be surprised if the listing agent you call doesn't rush right out to show you the listing. Even in buyer's markets, where agents are courting buyers right and left, not every agent is going to drop what she is doing to accommodate a showing… more