Geanne Pack

Hello Everyone,

So I was sitting here this morning in ROSEVILLE, CA enjoying a fresh cup of coffee and thinking about the AMAZING week I just had with a particular SHORT SALE deal and thought I should share.

As most of you are aware doing SHORT SALES are very time consuming and require someone with the patience and skills of a saint. Well first of all I LOVE SHORT SALES!!! I love to list them, and even more to my liking is to NEGOTIATE them!!.

So back to the reason for this blog :), I had listed, gotten an offer accepted by the seller and sent in a complete package to the banks (Wachovia 1st & WAMU 2nd). Within 2 weeks of sending in the package I get a phone call from the Wachovia negotiator; I was excited to hear from them so quickly yet worried when the Wachovia negotiator said to me "Let's meet at the property with your client" on Thursday. I couldn't imagine why this would happen, no one has ever done this before, most negotiators are 1000 or so miles away or in another country, what was happening, were they going to decline the SHORT SALE?

I called my client to advise them of the time to meet at their property along with the Wachovia negotiator, when Thursday arrived, I had butterflies in my stomach, I thought "whatever you do don't forget your lockbox key, file, and don't say anything stupid"

I arrived at the residence prior to the negotiator and my client, opened up the home and was ready for anything that may happen. She arrived shortly thereafter, and fortunately for me my client was late and I was able to talk to m. I introduced myself, showed her the home she took some notes, and when my client arrived spoke with them for about 5 minutes, was very professional and then she said "I'M HERE TO APPROVE YOUR SHORT SALE"!! I thought I was hearing things, I couldn't keep control of my thoughts, I WANTED TO JUMP FOR JOY, but I had to be professional. She said I will send you your APPROVAL letter in 48 hours and after you get the 2nd WAMU's approval call my CELL or email me so we can close this deal. I asked her why Wachovia was so organized and willing to work with the sellers in this manner, and she stated "having a complete package to begin with helps tremendously, if the package is not complete there most likely will not be a meeting for the approval until it is". She said "they received everything they needed from me the first time and didn't have to ask or wait for additional paperwork".

This has by far been the easiest approval I have ever received. I received the approval of the 2nd this last week and now we are in escrow and will close this deal shortly.

Needless to say I can't wait to do another SHORT SALE with Wachovia :)

Take care, have a great weekend and hope you enjoyed my blog.

It's amazing how the banks are finally coming around to our way thinking. I just closed a short sale and have one in escrow and received 3 offers on the others over the weekend after the BANK gave me APPROVAL on them. I gotta tell ya it's about time. Short sales are NOT going away and we as real estate agents had better get a handle on how to do them and get them approved fast and get the banks to work with us. I also want to say I agree with Jason Grams on all the GURUS coming out of the woodworks that are all of a sudden EXPERTS on short sales. I learned how to do them by trial and error and getting up at 4:30 in the morning and making phone calls to the banks that were not in California. There is no doubt they are hard work, but they can be well worth it. I hope this helps someone out there.