Relocate to Wisconsin

head_left_image

Short Sale Tales....Believe it Or Not.....

    

Farmhouse

 We had a short sale referred to us in an area that was some distance from our usual marketing area,but we agreed to list it and promote it in the market where it was located with the assistance of one of the branch offices of the brokerage.  One of the attractive features of the listing was that it had almost 6 acres....a barn and a pole building besides a house that had started to be remodeled and updated and the project would have to be completed by the new owner(s).

         As sometimes happens with Short Sales, the first buyer grew tired of waiting for the lenders to agree on the offered price and after changing lenders, deciding to pay cash and then not paying, playing chase the agent and his boss to find out the status....we at last got a cancellation and mutual release and back at it again....good price,....lotsa land...and lots of showings. Bright and early one morning, we got a call on our toll free line which was on the property sign. A young man said he and his Mom were looking for just such a property. He was disabled and this would property would enable him to run a small business from it...provide the privacy he wanted and he was fine with having to do some work on the interior of the home. We had the property reasonably priced and he and his Mom got set with a lender we recommended and their offer was accepted...off to negotiation with the two lenders involved.

          There was a little stuttering as one lender left for a week's vacation right about the closing date...oh snore....and of course, no one at the office could make a decision or sign a release.  With the other lender in line, financing ready....closing set, the vacationing lender wants more money...we negotiate further and we are set to close.house on fire

                                                                                                         

   OK...Closing will be Wednesday morning at 9...now it's the Friday morning before (Yesterday) and the phone rings. It is the fire department from the small town where the "almost closed" short sale is located. The home has burnt to the ground and they are still putting out the fire...we must find out who has the insurance and find out what the insurance company wants to do....the fire department has to stay and secure the area until that decision is made.  We are shocked....both sellers and and buyers are contacted....the buyers still want the property....and are the very best natured buyers on earth.

    A couple hours after the call from the fire department, we got a call from a co-broke who said she had buyers in the area of the house....yes, she knew as did her buyers, that the house had burned and they were both interested in purchasing the property.

   The cause of the fire at this writing is unknown....Some things I don't want to know...I want to know that the buyers who have been dreaming about the little piece of God's country to call their own will get to do that....maybe with a new house that the insurance will pay for in part.   This has to have a happy ending...it HAS to be about them and capturing their dream of a home and land to call their own. Stay tuned....more news as this tale unravels.


Comments

This sounds like a nightmare.  Hope you can get the lot sold;  I assume that's all that is left.

Posted by Barbara S. Duncan ABR, CRS, GRI, e-PRO Searcy AR (RE/MAX Advantage) about 1 year ago

Participate



(optional)
What does the graphic say?