I finally closed on what will go down in the books – my book anyway – as being the most frustrating, challenging, and lengthy short sale I have ever experienced. Now we know all short sales are anything but normal and short, but this one……..well, my fingernails are chewed down to the nub after all the craziness getting this closed the last five days prior to closing.
I met with the seller the day after closing and when he saw me the first words out of his mouth were:
“You saved my butt, and I will never forget everything you did for us.”
I explained to him that it was a team effort – attorneys, negotiator, paralegal, buyer agent and yes, the wonderful buyers we found who stayed with us during the whole gnarly process. They were schooled right up front and were also kept informed of every part of the transaction as it took place. I wanted them involved and informed.
A possible issue on this short was the buyers wanting to do an FHA loan on a house that had some repair issues. Their lender was a direct FHA lender, and the lender told me he should be able to get this closed within the typical 30-day close period after lender approval. Ok, we did not have much choice as time was running out so we went with it.
Hard to believe, but upon lender approval, we were give 22 days to close, and with the FHA and some repair issues which we addressed in a 24-hr period, we got it done!
In our conversation, my client proclaimed how relieved he was that it was over and that he and his family would be able to move on with their lives. He was so frustrated with his lender that he told me many times that he just wanted to foreclose and ‘get it over with’. I would explain that NO….we were doing everything we could to avoid that.
The law day is in two days. We got this in by the skin of our teeth. Yes, his butt was saved from foreclosure.
I told my client he and his family have no where to go but UP from this point forward. It will be a long, slow journey to smooth sailing, but it will happen. I could really see the gratitude in his eyes …..like no other time from anyone else in that situation before.
When I have bad days all I will have to do is remember his words and the look on his face. It has made me that much more determined to continue to help people in similar distress and ‘save more butts’.