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SD Realtor
ParticipantWith the way our city officials run things I think we would all be more surprised if it was NOT a former city official.
ParticipantWith the way our city officials run things I think we would all be more surprised if it was NOT a former city official.
ParticipantWith the way our city officials run things I think we would all be more surprised if it was NOT a former city official.
ParticipantIt belongs to the bank.
sdr have you been through any of the Wachovia streamlined process yet? I had a buyer and he purchased a home that was in that process and it was amazingly fast. I think start to finish on the approval process was like 3 weeks. The escrow was longer as we had financing issues but that Wachovia process was very nice. On the other hand I have some other buyers who have been through the meat grinder on two different homes and threw in the towel after many months. It was really tough for them as they were a nice couple but just drew two very poorly performing lenders. I think one of those lenders was either Chase or BofA.
ParticipantIt belongs to the bank.
sdr have you been through any of the Wachovia streamlined process yet? I had a buyer and he purchased a home that was in that process and it was amazingly fast. I think start to finish on the approval process was like 3 weeks. The escrow was longer as we had financing issues but that Wachovia process was very nice. On the other hand I have some other buyers who have been through the meat grinder on two different homes and threw in the towel after many months. It was really tough for them as they were a nice couple but just drew two very poorly performing lenders. I think one of those lenders was either Chase or BofA.
ParticipantIt belongs to the bank.
sdr have you been through any of the Wachovia streamlined process yet? I had a buyer and he purchased a home that was in that process and it was amazingly fast. I think start to finish on the approval process was like 3 weeks. The escrow was longer as we had financing issues but that Wachovia process was very nice. On the other hand I have some other buyers who have been through the meat grinder on two different homes and threw in the towel after many months. It was really tough for them as they were a nice couple but just drew two very poorly performing lenders. I think one of those lenders was either Chase or BofA.
ParticipantIt belongs to the bank.
sdr have you been through any of the Wachovia streamlined process yet? I had a buyer and he purchased a home that was in that process and it was amazingly fast. I think start to finish on the approval process was like 3 weeks. The escrow was longer as we had financing issues but that Wachovia process was very nice. On the other hand I have some other buyers who have been through the meat grinder on two different homes and threw in the towel after many months. It was really tough for them as they were a nice couple but just drew two very poorly performing lenders. I think one of those lenders was either Chase or BofA.
ParticipantIt belongs to the bank.
sdr have you been through any of the Wachovia streamlined process yet? I had a buyer and he purchased a home that was in that process and it was amazingly fast. I think start to finish on the approval process was like 3 weeks. The escrow was longer as we had financing issues but that Wachovia process was very nice. On the other hand I have some other buyers who have been through the meat grinder on two different homes and threw in the towel after many months. It was really tough for them as they were a nice couple but just drew two very poorly performing lenders. I think one of those lenders was either Chase or BofA.
ParticipantEvery short sale is different. I have seen them as short as a few weeks and I have seen others go several months, over 9 months even. It is good a negotiator has been assigned. The negotiator will make sure the documentation needed to complete the package is all in good order. A BPO has been done as you indicated, an appraisal may or may not be ordered as well. Once the package is completed AND (in many cases now) all of the legal stipulations have been fulfilled, (ie – a loan modification has either been attempted or the seller is not deemed to qualify for a modication or has officially declined a modification) then the package will be sent off to the investors who will make the decision. That decision may be quick a week to a few weeks, or it may not be. They all vary.
ParticipantEvery short sale is different. I have seen them as short as a few weeks and I have seen others go several months, over 9 months even. It is good a negotiator has been assigned. The negotiator will make sure the documentation needed to complete the package is all in good order. A BPO has been done as you indicated, an appraisal may or may not be ordered as well. Once the package is completed AND (in many cases now) all of the legal stipulations have been fulfilled, (ie – a loan modification has either been attempted or the seller is not deemed to qualify for a modication or has officially declined a modification) then the package will be sent off to the investors who will make the decision. That decision may be quick a week to a few weeks, or it may not be. They all vary.
ParticipantEvery short sale is different. I have seen them as short as a few weeks and I have seen others go several months, over 9 months even. It is good a negotiator has been assigned. The negotiator will make sure the documentation needed to complete the package is all in good order. A BPO has been done as you indicated, an appraisal may or may not be ordered as well. Once the package is completed AND (in many cases now) all of the legal stipulations have been fulfilled, (ie – a loan modification has either been attempted or the seller is not deemed to qualify for a modication or has officially declined a modification) then the package will be sent off to the investors who will make the decision. That decision may be quick a week to a few weeks, or it may not be. They all vary.
ParticipantEvery short sale is different. I have seen them as short as a few weeks and I have seen others go several months, over 9 months even. It is good a negotiator has been assigned. The negotiator will make sure the documentation needed to complete the package is all in good order. A BPO has been done as you indicated, an appraisal may or may not be ordered as well. Once the package is completed AND (in many cases now) all of the legal stipulations have been fulfilled, (ie – a loan modification has either been attempted or the seller is not deemed to qualify for a modication or has officially declined a modification) then the package will be sent off to the investors who will make the decision. That decision may be quick a week to a few weeks, or it may not be. They all vary.
ParticipantEvery short sale is different. I have seen them as short as a few weeks and I have seen others go several months, over 9 months even. It is good a negotiator has been assigned. The negotiator will make sure the documentation needed to complete the package is all in good order. A BPO has been done as you indicated, an appraisal may or may not be ordered as well. Once the package is completed AND (in many cases now) all of the legal stipulations have been fulfilled, (ie – a loan modification has either been attempted or the seller is not deemed to qualify for a modication or has officially declined a modification) then the package will be sent off to the investors who will make the decision. That decision may be quick a week to a few weeks, or it may not be. They all vary.
ParticipantTough to get what ya want in CV. Sellers there tend to be really challenging and not as much distress as you would hope for. There is a smaller sfh that I am sure you have seen that I had the listing “verbally” according to the seller but lost out on because his wifes friend is an agent. I would speculate that my views were pessimistic as my price point was definitely below where the seller wanted. So it has been on the market now at a price much higher then my recommendation with no takers. Conversely the owner has a ton of equity and is a professor at UCSD and doesn’t have any compelling need to get rid of the home. Lots of not really motivated situations like this.
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