Terri, I Miss You, Too

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

I posted The War & Peace of Short Sale a couple of weeks ago. It was at a time when I thought that all the hurdles were over, and we were sailing uneventfully to the Closing.

Wrong. The documents were sent to the Seller but the Buyer's Lender did not send the package to the Title Company because of the insufficient insurance on the condo building.

And in the evening on Thursday last week the Closing set for next day, Friday, looked dead in the water, and then the stars lined up in the last moment and we closed.

It was my longest Short Sale. It took 2 years, 6 months and 25 days from listing. Yep, and these 2 years, 6 months and 25 days were anything but a vacation. Every time we were thinking we would be closing within days something happened. Lender takeovers and we went through two, each time losing a buyer in the long wait, and every time after the dust would settle, we had to submit to a now new lender, and each time they would tell us that they would not agree to any short sale.

Longest Short Slae

Going through court mandated mediation, which the attorney for the Lender sabotaged from start to finish...

We kept coming back as phoenix and starting it all over again. Did I really believe that we would close one day? It was not about believing, it was about hitting the wall and bouncing back, and until foreclosed, it is never the end...

And we beat the foreclosure, and closed the transaction... and the negotiator laughed and told me she would miss me...

Terri, I miss you, too...

Well, not really (LOL)

close

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Topic:
ActiveRain Community
Location:
Florida Volusia County Daytona Beach
Groups:
POSITIVE ATTITUDE for the Weary Soul
Realtors®
Short Sales
Short Sales Specialists
Silent Majority
Tags:
short sales in daytona beach
daytona short sales

Comments 16 New Comment

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Rainmaker
988,483
Evelina Tsigelnitskaya
www.SIBRealty.com 305-931-6931
SIB Realty
Wow, long way and you finished it, congratulation, many more and for less time!
September 21, 2011 12:28 AM
Ambassador
896,941
Andrea Swiedler
Realtor, Southern Litchfield County CT
Berkshire Hathaway HomeServices New England Properties

LOL Jon, I am guessing you miss her like a toothache!

September 21, 2011 06:05 AM
Rainmaker
825,661
Nicholas Goglucci
The Listing Whisperer
South Florida Real Estate & Development, Inc.

And then the buyer's agent wonders why I charge a short sale transaction fee, the work to close short sales is getting more and more difficult and time consuming. 

September 21, 2011 07:48 AM
Rainmaker
358,969
Bob Jakowinicz
734-578-6561 - Michigan Real Estate Agent
National Realty Centers Livonia--Bob Jakowinicz

Congrats on your closing!  You earned it

September 21, 2011 10:33 AM
Ambassador
1,327,466
Jon Zolsky, Daytona Beach, FL
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

Evelina - yep, it was a very long short sale. Thanks for stopping by

September 21, 2011 10:42 AM
Ambassador
1,327,466
Jon Zolsky, Daytona Beach, FL
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

Andrea - Terri was my contact at the last lender, who bought the loan as a package. First it was "we are not going to agree to lose even a penny", but since they transitioned to accepting a short sale, she was as part of success as anyone else.

She was really a type of negotiator I would want on my other short sales. So, not a toothache, not at all. And in a sense, I would miss Terri and remember her every time negotiators on our other deal do not respond, or respond with stupid demands

September 21, 2011 10:45 AM
Ambassador
1,327,466
Jon Zolsky, Daytona Beach, FL
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

Nicholas - we do not charge any fees. And in this case, BTW, I ended working with both sides in order to make it happen. No, there was an agent, who brought me the contract, but the Buyer figured that if he wanted the deal, he needed to work directly with me, and his agent was cool with it. Why wouldn't he? Got the same commissin I got.

September 21, 2011 10:49 AM
Ambassador
1,327,466
Jon Zolsky, Daytona Beach, FL
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

Thank you, Bob

September 21, 2011 10:50 AM
Rainmaker
321,586
Yolanda Hoversten
Broker - O Fallon, IL Real Estate
Prudential One Realty Centre

Congratulations, Jon. It has to be one of the longest, if not the longest transaction in history. :)

September 21, 2011 10:54 AM
Ambassador
1,327,466
Jon Zolsky, Daytona Beach, FL
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

Yolanda - I really do not want to beat my this record. I have another one just short of two years, and hope we close sooner.

Thanks for the comment

September 21, 2011 01:47 PM
Ambassador
706,136
Mike Frazier
Dyersburg Tn Real Estate
Carousel Realty of Dyer County

That is the longest short sale closing I have heard of.

September 21, 2011 01:48 PM
Ambassador
1,327,466
Jon Zolsky, Daytona Beach, FL
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

Mike - and I prefer it to stay this way. I do not want to beat this record (lol)

September 21, 2011 03:15 PM
Rainmaker
548,211
Than Maynard
Broker - Licensed to List & Sell - 405-990-8862
Coldwell Banker Heart of Oklahoma

I will have to forward this to a couple of my agents. Their short sale "only" took 120 days or so, but the seller had been trying to FSBO it for an additional 1.5 years. The third buyer to get it under contract final was able to close the deal.

September 21, 2011 04:16 PM
Rainmaker
511,824
Jill Sackler
Long Island's South Shore Real Estate Agent
Charles Rutenberg Realty Inc. "Said and Done!"

That's just incredible. Congrats on getting the job done. You really have to persevere with short sales.

September 21, 2011 09:30 PM
Ambassador
1,327,466
Jon Zolsky, Daytona Beach, FL
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

Than - we do some short sale fairly quickly, but some take forever. And like you describe, very often it is not the first buyer, and quite often it is not even the second buyer.

In this case it was 6th buyer.

September 21, 2011 11:19 PM
Ambassador
1,327,466
Jon Zolsky, Daytona Beach, FL
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

Jill - I feel a void in my life. After having it on the agenda for so long, and now it is gone, I have a strange feeling that it became a part of our daily life to the point that we feel the void.

Crazy

September 21, 2011 11:21 PM
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Jon Zolsky, Daytona Beach, FL

Selling Daytona paradise for heavenly good prices
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