St Petersburg Florida | Another short sale story

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 St Petersburg Florida | Another short sale story

Finally all the paperwork is done, the bank (after months and months) has their act together, we have an offer on the table. The bank send the appraiser out and for whatever strange reason the appraisal comes back surprisingly high.

Now the bank rejected my buyer’s offer and a few days later (since my buyer did not panic and make a higher offer) the bank came back and countered with the appraised amount.

My buyer stood firm, he is an investor and he has a bottom line that he sticks to. The numbers have to work, and if you go over a certain price it just won’t be an investment anymore.

With rejecting or countering my buyer’s offer, the banks did nothing but waste valuable time and produced more cost and expenses.

Today’s investors are smart and the inventory here in St. Petersburg is high, if they can’t get the deal they want, they just walk away and move on to the next project.

Well,  needless to say, the banks did not get any higher offers and a few weeks later they called me and asked if my buyer was still interested, they now would be willing to accept his original offer. This is not a one time incident; it has happen to me a few times this year. What are they doing? I am sorry, but it is time that the banks and lenders get a different attitude towards short sales and foreclosures. If they really do not want to own your property, they should do everything possible to help you sell it and it should not take month and month and month. Every-time I deal with a short sale, no matter if I am on the buyer’s or seller’s site, I get frustrated at one point. But the good thing is that my personality does not allow me to give up, so I try and try and try again till I can finally get someone from the bank to talk to me. This is probably the most important thing to take for this little post. If and when you are in a short sale situation, do not take no for an answer, keep calling them, keep pushing, keep e mailing, to a point where someone finally gets back. Persistence is the key, once they realize that you will not go away, they will finally speed up the short sale or foreclosure process just to get “rid” of you.

St Petersburg Florida | Another short sale story

Anne Hensel, Realtor, CSP, Short Sale Professional, working with homeowners and buyers to successfully close a short sale transaction in Pinellas County Florida. A lot of people here in the Saint Petersburg, Seminole area are facing a short sale situation, Waterfront properties on Saint Pete Beach or Treasure Island  as well as little homes in Seminole or Gulfport. Give me a call today and find out what your options are. Your short sale consultation is free of charge and confidential.

 

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