It has been almost eighteen (18) months since we put an offer on a townhouse in Pembroke Pines, Florida.
To begin with the right property was not easy to find. My buyer has a modest budget of about $100,000. He was approved for FHA financing. Many properties in this price range are foreclosures in pretty bad shape and this is not acceptable for FHA. After looking for several months we found this nice place suitable for my client’s needs. Put the offer and waited for several months. Then we were told that the case was dismissed by the bank. With great regret we proceeded to Release and Cancellation of our failed contract! My buyer got his deposit money back.
After sometime we received a call from listing agent telling us that the file was open again by the bank. She offered us the opportunity to send a fresh contract and start the process all over again. This time she was told the process would not take that long. We sent our offer again and waited long months again.
I have to mention that the first time around the short sale was handled by a lawyer, who certainly was too busy and let the case to be closed by the bank. At this point the listing agent decided to take control of the process with her broker’s support. This was the solution. We made a team: buyer, seller, realtors and helped to move forward. Many times we got frustrated but kept on going. Listing agent and her broker did a marvelous job, very professional. They were on top of the process and kept us informed. My buyer is an exceptional human being that I grew to admire. Positive, perseverant, patient…that’s my buyer!
Another important role has been played by the lender. Even though we did not have an approval on the short sale, the bank decided to go ahead and be prepared to take the case to underwriter…appraisal was done and all the paperwork needed is being completed…
We have not closed yet…our story has not finished…but hopefully it will. My buyer and I are thankful to the professionals that have helped us out. Especially to the Listing Agent who was honest and diligent from day one. Forgot to mention…she placed the property on Pending Sale honoring our contract…it has been PS for long months and hopefully it will show CS Closed Sale pretty soon!
Keep you posted on the happy ending of my old and successful story!!! Keep your fingers crossed!! We need all the positive energy we can get!