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 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 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.