Just Sold an Oxymoron

  Giant Shrimp

  Military Intelligence

  Blind eye

 Short Sale

There is nothing short about the time it takes to complete a typical short sale.

Less than forty-eight hours after viewing the home, we had a signed around offer with the Seller.  Now we needed their bank’s approval.  We   painstakingly waited for weeks to hear back from them.  There was the constant debate—should we give up on this and make an offer on another non short sale home?  Will the bank counter at a higher price?  Are we just wasting our time and effort on this thing?

Finally, after 15-weeks, the bank responded and accepted our price.  From there the pace picked up briskly.  The home needed a lot of work, including all new siding, roof work, carpet, paint, and fencing.  The Buyer’s used a 203k loan to wrap all the home renovations into their mortgage.  Even with the more extensive inspection and bidding for the 203k work, we were still able to push through and have the home closed in under 50-days from the bank approval date.  The construction work is commencing and will be completed in less than two weeks.  Kind of a hurry up and wait then sprint to the finish situation.  And in short, we did it.

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