I got the Short Sale approved to fast???Short Sales

Sometimes it does not pay to be a Temecula short sale specialist.
I stopped the foreclosure,and got this short sale approved and here is my reward.

Emailed to me today.......


After a long discussion amongst ourselves my wife and I have decided to withdraw our offer on the Catherine property. As much as we liked the property is was approved too soon and we do not want to deal with closing on a house in December.

 

Thank you,

 

Good thing that Bank of America has a good buyer substitution program.

 

 

 

Temecula Short Sale Agent, Cyber Sid at your service,Short Sale QR Code

Sidney Kutchuk  AKA...Cyber Sid
 
www.aShortSale.com
 

 41720 Winchester Rd #I  Temecula Calif. 92590     DRE# 01156692   Google me

 

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Comment by Sidney Kutchuk on November 10, 2011 at 9:42pm

Antonette,

They are under contract,but with a short sale there are many ways they can exit the transaction.

So instead of going into a forced escrow I say thank you. They got me to the point were I now have an approved short sale. An approved short sale listing will sell and close fast as the second buyer will not have to go through the long wait. 

Making lemonade from lemons.

Comment by Antonette Solano CSSG, SFR on November 10, 2011 at 7:04pm

how can they just bck out, don't you have a binding contract?  that would be a breach of contract here.

Comment by Joseph C. Alfe on November 7, 2011 at 12:10am

that's why you MAKE them conform to "The rules of a short sale" and get an unbreakable contract.

Comment by Sidney Kutchuk on November 5, 2011 at 11:01pm

Buyer don't seem to understand the danger they put seller's in when writing offers they do not intend to follow through on.

Comment by Joseph C. Alfe on November 5, 2011 at 6:39pm

This is why I do not accept contracts without the following:

1. Ernest money upon seller acceptance

2. Five day attorney review (if applicable)

3. 10 day inspection period

4. close date at least 90 days out.

 

What this does is shut off any buyer "outs" and commits them to the contract for 90 days.  Anyone who backs out before is in breach and forfeits Ernest money.

 

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