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

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Rainmaker
989,438
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.com 305-931-6931
Wow, long way and you finished it, congratulation, many more and for less time!
Sep 21, 2011 12:28 AM #1
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904,650
Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

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

Sep 21, 2011 06:05 AM #2
Rainmaker
825,887
Nicholas Goglucci
South Florida Real Estate & Development, Inc. - Pompano Beach, FL
The Listing Whisperer

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. 

Sep 21, 2011 07:48 AM #3
Rainmaker
377,077
Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
734-578-6561 - Michigan Real Estate Agent

Congrats on your closing!  You earned it

Sep 21, 2011 10:33 AM #4
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

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

Sep 21, 2011 10:42 AM #5
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

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

Sep 21, 2011 10:45 AM #6
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

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.

Sep 21, 2011 10:49 AM #7
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Thank you, Bob

Sep 21, 2011 10:50 AM #8
Rainmaker
327,150
Yolanda Hoversten
Berkshire Hathaway HomeServices Elite Properties - O'Fallon, IL
Broker - O Fallon, IL Real Estate

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

Sep 21, 2011 10:54 AM #9
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

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

Sep 21, 2011 01:47 PM #10
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Mike Frazier
Carousel Realty of Dyer County - Dyersburg, TN
Dyersburg Tn Real Estate

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

Sep 21, 2011 01:48 PM #11
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

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

Sep 21, 2011 03:15 PM #12
Rainmaker
589,712
Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

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.

Sep 21, 2011 04:16 PM #13
Rainmaker
540,931
Jill Sackler
Charles Rutenberg Realty Inc. "Said and Done!" - Merrick, NY
Long Island's South Shore Real Estate Agent

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

Sep 21, 2011 09:30 PM #14
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

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.

Sep 21, 2011 11:19 PM #15
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

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

Sep 21, 2011 11:21 PM #16
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