I did the happy dance in my office briefly today! This morning, after multiple phone calls, hair pulling, sleepless nights (yes, I have literally been having nightmares about this short sale transaction), I received a written short sale approval extension for my transaction that was supposed to close on 8/31! WHEW!
So of course, I excitedly emailed it to the buyer's loan officer, buyer's agent, the seller, the escrow officer at Placer Title...this short sale extension is valid through 9/18/09! YAY! Mission accomplished, right?
WRONG. A few hours later, I received a call from the buyer's loan officer that there is one sentence in the short sale approval extension letter that the buyer's lender wants removed before they fund the loan. WHAT? This same sentence was in the original approval! Couldn't you have brought this to my attention BEFORE NOW!???
So, my quest continues. GRRR...
So Close, Yet So Far Away...the short sale approval extension drama continues...
1 comment • Erin Attardi, Realtor - Sacramento, CA 916-342-1372 • September 04 2009 07:29AMIn Search of the Elusive Sacramento Short Sale Approval Extension...
If you read my post last week regarding the fact that short sale approval extensions are just not guaranteed, keep reading...and if you did not read that post, keep reading anyway.
Approval for this particular short sale expired yesterday on 8/31/09. The buyer has not been able to perform and close her loan. In fact, as of yesterday (and thus far today), the buyer's loan documents have still not been received by Placer Title. UGH.
A Trustee Sale (foreclosure...the end of the line...auction on the Sacramento County Courthouse steps) had been scheduled for 9/8/09 - next Tuesday, right after the Labor Day holiday.
Well today, I won a small battle in my quest for a written short sale approval extension. While I have not yet received a written short sale extension, granting us extra time to close the escrow, I was successful in my request to postpone the date of the Trustee Sale from 9/8/09 to 10/1/09. WHEW!!
So my battle continues...at least at this point my listing will not be foreclosed out from under the transaction, and with continued hard work, phone calls, and hair pulling - we may just get this short sale transaction closed yet! What an emotional roller coaster for the buyer ane seller!!
0 comments • Erin Attardi, Realtor - Sacramento, CA 916-342-1372 • September 04 2009 07:27AMHTML, CSS, "raindrop" logo, and generic header image © 2009 ActiveRain Corp. Logos and service marks owned by copyright holder.