A Tale of Tenacity! I Refused To TAKE NO for an Answer

A Tale of Tenacity in Tracy, CA

2011

March 10 - Short Sale Listing Taken in Tracy, CA

Marsh 14 - Offer accepted

March 20 - everything sent to Chase's Short Sale Divison and confirmed received. Buyer 1

July 10 - Short Sale Buyer 1's offer is accepted and short sale is approved! Price $220,000 3% closing costs

July 18 - Short Sale Buyer's job has changed and they can no longer qualify for the loan.

Tenant moves out -

July 22 - New short sale offer, Short Sale Buyer 2, $220,000 NO CLOSING COSTS (Chase will get 3% MORE MONEY)

August 18 - Chase declines short sale (No notice of default at this time)

I speak to the short sale seller, let him know that I'm prepared to resubmit entire package if he'd like. Perhaps we will get a different negotiator. (I did try escalating, still told investor guidelines had changed, seller no longer qualifies.)

August 21 -New short sale Buyer, Short Sale Buyer 3 sends a matching purchase contract and we resubmit to Chase

October 18 - Chase Declines Short Sale AGAIN.

I again ask the seller, there is no notice of default, we can keep trying until the foreclose on you. Short Sale Seller Agrees to proceed with the Chase Short Sale. Short Sale Buyer 3 is willing to try one more time.

November 10 - Chase asks for $10,000 more than Buyer 3's offer, and previous approval amount, see July 10th

November 13 - We Susan Goulding submit a letter staing this is Buyer 3 highest and best AND send comps

December 12 - We, Susan Gouding get an approval, Short Sale Seller is leaving for out of the country and will be gone a month, starting 12/23

December 18 - Buyer's agent calls and says Buyer 3 no longer wants the house. (WHAT THE HECK, LESS THAN A WEEK AGO THEY SUBMITTED AN ADDENDUM WITH HIGHEST AND BEST)

DECEMBER 21 - Short Sale BUYER 4 - delivers contract with agreed upon price, we get seller to sign contract and SIGN docs at the title company so we can close while the short sale seller is out of the country.

2012

Approval Close Date 1/21

January 14 Buyer's agent calls and says seller needs to add husband to the contract due to lender guidelines

(In a short sale this means we have to have a new approval letter showing name change and addition of 2nd buyer)

January 19 We get approval for the short salel from Chase Bank with a closing date of 1/21

(We can't close on 1/21, lender hasn't drawn docs, Short Sale Lender, Chase, requirs HUD 72 hours prior to funding.) We need an extension

1/21 - We get extension until 2/15/2012

1/25 - Chase calls and says THANK YOU FOR YOUR TENACITY in this short sale. We appreciate it. REALLY? You declined it twice. Needless to say I was shocked to receive a call from Chase saying thank you for working so hard on this short sale.

2/2/2012 - Groundhog DAY - We recorded this short sale in Tracy, CA. It closed.

I refused to take NO for an answer. My Sellers avoided foreclosures, I got paid, albeit .25/hour, but we did it. Successully close the Chase Short Sale. I'm nothing if not a tenacious pitbull when it comes to protecting my short sale sellers. I don't take NO for an answer... not until the property foreclosues. If you need someone to battle for you in a short sale call me. Anywhere in Northern CA.