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Laura Kelley, Real Estate Pro in St. Augustine,, FL

What are your thoughts on working with Wells Fargo Vs. Wachovia Short Sale process?

Asked by Laura Kelley, St. Augustine,, FL Mon Oct 10, 2011

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I've had experience selling short sale SOLD homes with both lenders. I believe Wells is beginning to come around however in my experience a Wachovia Short Sale is my smoother & faster.

Thank you for the comments!

Laura Kelley
http://www.facebook.com/agentlaurasandiego
1 vote Thank Flag Link Mon Oct 10, 2011
Working with Wells Fargo is like squeezing frozen molasses from a ketchup bottle. A lot of effort goes into the squeezing but very little drips out.
1 vote Thank Flag Link Mon Oct 10, 2011
They are all very slow processes. Wells, I agree is coming around. They have assigned negiotators, in PODs that work your files now. As with all short sales, you must be very persistent. I would be sure to call every two weeks mandatory, and of course on an as needed basis. Making yourself known is how you get the short sale completed. These guys are extremely busy, so having a agent who has established relationships within these two banks helps tremendously. We have list of managers and supervisors for each bank; you never know when you will need to escalate, or get a sale date postponed. I use KINGWEST TRANSACTION SERVICES out of Poway, CA. They are so organized its painful. Most of their employees are "equator" certified, too! Check them out or ask if your agent works with them. (They only work with agents and brokers no FSBOS) Wachovia if I had to pick would be my least favorite to work with, however its a close race.
Web Reference: http://www.kingwestts.com/
0 votes Thank Flag Link Wed Oct 12, 2011
Wachovia short sales were a smooth process... Vs Wells.... Now that they merged I only hope Wells will follow the Fast track program from Wachovia which was an easy and seamless short sale process...
Web Reference: http://www.SLeonRealtor.com
0 votes Thank Flag Link Mon Oct 10, 2011
wachovia was AWESOME to work with!!!!
0 votes Thank Flag Link Mon Oct 10, 2011
Hi

I would say in most cases Wells Fargo loans will go thru almost the same process as Wachovia unles it is with some Inestor that Wells/Wachovia will not handle. I had Wachovia short sales and Wells Fargo Short sales and it was almost the same time frame. Ofcourse the Wachovia much faster and easier, but I would say compare with all other Lenders this is great!
I had Wachovia short sale where they approved $23,000 Sellers Incentive, but due to change in Buyers we were not able to close on the original approval so the Seller was pretty upset with getting ZERO after we had to re-approve the new Buyer and that time there was no Incentive.

I really wish all short sales were as easy as Wachovia and Wells Fargo.


TEAM OF EXCELLENCE
(877)247-MySD
Web Reference: http://www.SDhomes4sale.com
0 votes Thank Flag Link Mon Oct 10, 2011
Wachovia has a special program I heard about that speeds up the process. I have a contact there if you want to message me!

Melia
0 votes Thank Flag Link Mon Oct 10, 2011
If you have a choice you difinitely want to go with Wachovia. They have the fastest turn times. Wachovia will get the approval without an investor approval which can take months. The short sale department will make all the decisions, so you will close quickly sometimes in 30 days. I wish all short sales are like Wachovia's. Raul.
Raul Vasquez


Homeowners Realty
122 Civic Center Drive #205
Vista, Ca. 92084
Office # 760-631-0004
Fax # 760-631-2288
Cell # 619 948-1094
raulvasquezzz@gmail.com
0 votes Thank Flag Link Mon Oct 10, 2011
If you have a choice you difinitely want to go with Wachovia. They have the fastest turn times. Wachovia will get the approval without an investor approval which can take months. The short sale department will make all the decisions, so you will close quickly sometimes in 30 days. I wish all short sales are like Wachovia's. Raul.
Raul Vasquez


Homeowners Realty
122 Civic Center Drive #205
Vista, Ca. 92084
Office # 760-631-0004
Fax # 760-631-2288
Cell # 619 948-1094
raulvasquezzz@gmail.com
0 votes Thank Flag Link Mon Oct 10, 2011
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