Wednesday, September 29, 2010

Real Estate update

Im new to this blogging thing. Or lets say Im some what new to social media. I have a facebook page, a twitter page and I think its called Linkden

Monday, September 27, 2010

Short Sale in 24hours

I just rec'd an email stating "I completed a short sale in 24 hours". Is that possible? I consider myself a veteran short sale agent; the fastest I've completed a short sale has been 3 weeks. The reason being, I had a very cooperative seller and a contract the same day I listed the property. The seller just wanted out the property.
We met the next day, she provided all necessary documents which included: hardship letter, financial worksheet,w-2's, paystubs, bank stubs and authorization letter etc. I made contact with the lender the same day. According to the lender, it would take 48 hours before my authorization letter would upload in their system. From the time I received the contract and the auth letter uploaded, 3 days has passed. Day 4 all the documents were faxed to the lender . Day 6, the lender’s rep confirmed all the docs were received and they proceeded by ordering the BPO….Im not going to go over the entire process but it is simply impossible to complete a short sale in 24 hours…There are too many uncontrollable factors which can slow down the process. Luckily for me, my 3 week short sale was a cash deal, no M/I company and no second mortgage.
So next time you see an email stating “I can short sale your home in 24 hours” just hit the delete button.
Thank you,
Ainsley Daux
Home Run Real Estate inc'
(813)546-1954