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Stephanie Greenberg's Blog

By Stephanie Greenberg | Agent in Fresno, CA

Yeah! Received Short Sale Approval for my buyers yesterday.

Yesterday was a great day!  We received short sale approval on an offer my buyers made in November 2010.  My buyers fell in love with this home and put a great offer on it.  I called the listing agent and found out it had only one loan with BofA.  Unfortunetly BofA did not assign a negoitator until mid-January.  I explained the short sale process to my buyers and they said they would wait for this house.  That did not stop them from calling me twice a week for an update, even though I make it my policy to call every Friday with an update, even if the update is "no update".  A few weeks ago BofA came with a counter offer, higher sales price, no contribution to buyers closing costs, seller contribution and seller promissory note.  I thought it was a dead deal at this point.  We countered back and yesterday received written approval with a higher sales price, 4% in buyers closing costs paid and no prom note or contribution from seller.  Needless to say, my buyers are estastic!  They waited "patiently" for 4 months and finally have reached their goal of first time home ownership.  They are so excited they are meeting with their loan officer today to lock in a rate and get moving.  I feel very honored to be working with this family and making their dream come true!  Short sales can be a pain, but the key is communication.

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