Short Sale Approved and Closed on 4/15/2008

Option One Mortgage was the lender that had both liens on the property that I had listed and successfully closed on April 15th, 2008. The buyers agent sent in an offer on February 28th, 2008 and a few other offer came in around the same time. This agent must have given his buyer the approximate wait time for the process of a short sale like I told him because all of the other buyers were nowhere to be found.

Fortunately Option One was the easiest bank I've had to deal with in regards to an approval, and they didn't ask for a promissory note or delay with a second or 3rd appraisal or BPO. Not once did I physically speak to the assigned negotiator he emailed me the approval, and gave us a closing date of April 25th , 2008.

For the agents not showing short sales to your buyers you might be missing out on good deals with agents that are experienced with short sales and giving you an approximate accurate time frame for approval. What do you have to lose if you find another property or if the short sale closes.

To qualify for a short sale log onto www.shortsalelistagent.com