Wednesday, September 9, 2009

Sacramento Short Sale Extension Saga...IT CLOSED!!

I am happily eating a celebratory frozen yogurt right this second...I just received confirmation from Placer Title that one of my short sale listings has closed!

If you have been reading my blog over the last couple weeks, you will know that I have been feverishly working to get an extension on a short sale that was supposed to close by August 31st, but the buyer could not perform and get her lending in time. There was a Trustee Sale set for September 8th (yesterday), and I had been repeatedly told by the short sale lender (Aurora Loan Servicing) that an extension would not be granted. Approval extensions are NOT guaranteed!!

Well, first I was successful in my bid to get the Trustee Sale postponed from September 8th to October 1. When I finally did receive that extension from the short sale lender, the buyer's lender wanted some wording changed on the approval document! ARGGH!!

I literally was having nightmares about this short sale transaction. Anyway - it closed! Seller is elated, and buyer is thrilled to be a first time homeowner at age 75! A win-win for everyone involved. YIPPEE!

1 comment:

CoachingByPeter said...

Buyers must do thorough research on some info about short sale for lenders may not disclose all necessary details. There maybe some delay on the approval process due to the condition of the documents.