Day 99

It’s Day 99

NINETY NINE days of this madness called “Short Sale”. And still no closing in sight. There isn’t a single thing I can do at this point but wait…. And continue to talk my buyer down from the ledge she is about to jump off.

Oh, we did everything right. Asked all the right questions (and got the answers we wanted to hear- only to find they were incorrect!), tried to get the listing agent to use a mediator, stayed on top of everything and everyone. I’ve done my job and more, to no avail.

When did this buyer write her offer then? July 1st. Imagine that. You are finally buying your first place. Summer is in full swing. You begin thinking colors. Planning where you will put the Maltese Arm Chair, which drawer the silverware will go in. Only to have your emotions toyed with. To wait, day after day, moment after long, slow moment. Emailing your agent, hoping, praying that in some rare show of incompetence she will have forgotten to tell you the closing is scheduled. There really is an end in sight.

This is my nightmare. I agonize over the thought of not being able to fix this. I lose sleep over the idea of my buyer wondering, worrying, waiting.

Now, I know what you are thinking. Of course you are miserable over this Stephanie. You don’t get paid until it closes. Sure, I like electricity and cable as well as the next. However, that is certainly not my main reason for concern. As with most, this buyer has become a friend. Not only is it my job to take care of her, it is now also my personal duty. Every bit of worry and frustration is now mine as well. Every day that goes by, my frustration grows with hers.
Yes, I warned her this could happen. I told her of the horror stories of three, four, five months of waiting. It doesn’t do much in the way of making it less frustrating.

The moral of this story- No matter how experienced, no matter how much you try to do, sometimes there just isn’t anything you can do. And here I sit….. Suffering Short Sale Hell.

Here are a few of many Short Sale tips:

-Be SURE the listing agent is experienced in the short sale process. Although easier said than done! Also be sure they are motivated…..
-Have a title company do an initial search on the property to determine any and all liens attached to the property.
-Expect to buy the property as is.
-Don’t write an offer on a short sale property unless you are extremely patient and without any time frame requirements!

Yup, I wrote this a few days ago. It was not a fun one to write. It tooks days to finish. They all can't be winners I guess. ;)