Finally Closed That REO !

Well, it has finally happened!!! Way back in February I wrote a contract on a REO property. Last week it closed! It was a fight to the finish!

The entire thing was being handled by a group of attorneys in Ft Lauderdale. The condo involved is here in Clearwater, the listing agent lives in Tallahassee and the bank that held everything was in Utah.........do you see where I am going with this???

It was a MESS - people not responding for weeks to requests for information, a large law firm with too many people working on the file and nobody telling the rest of the group what they were doing.

The fact what the buyer was up in Canada was the EASY part - he at least responded to e-mails and phone calls!

After 3 closing extensions, none of them due to anything the buyer did, we finally got to closing day. The buyer (paying CASH) wired the funds down to Ft Lauderdale - the attorney's office e-mails me 5 days later that they are waiting for funding - even though the same day as the funds were wired another person in the same attorney's office had e-mailed me that the funds were there!!!! HELLO - Does Peter Know What Paul Is Doing????

I worked harder on this one than I have ever had to work on a closing before! It wasn't a multimillion dollar deal, but I do have a young couple from Ontario that are pleased to now own a vacation condo in Clearwater.

As far as REOs - - - I don't know if I will EVER write another REO contract - - - they are a royal pain!!!