I had a Wells Fargo short sale that closed in 70 days! Wells Fargo was very proactive and pre-approved the short sale. They asked for all documents up front. As they were processing the documents, I found a buyer and submitted a fair market value price. It came in line with their independant BPO and we were waiting on the buyer's lender to fund the deal.

In addition to having both sides of the deal, Wells Fargo offered a $1000 quick sale bonus.

2010 is the year of the short sale!

I am happy to be part of the Short Sale Specialist Network!

Mike Hall

Golden Gate Real Estate

Director of Real Estate Sales

www.myohiohouse.com

614.937.416

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Comment by Ann R. Irvin on June 10, 2010 at 2:01am
I am glad you had that good experience--I had two with Wellls Fargo and neither closed. They were both reasonable offers with qualified buyers
Comment by Southland Real Estate on June 8, 2010 at 2:57pm
It is not all bad, just some bad.

Last week I got a WF approval at 345k, 6% comm...
Same file was approved 2 1/2 months ago at 310k and 5% comm.
It seemed like they kept handing it off.
Comment by Southland Real Estate on June 8, 2010 at 2:54pm
Surprisingly BofA has been getting better for us after Equator, HAFA is slowing them down a little bit.

We will try and give Wells another try. Did u guys have to escalate the file at WF or...?
I am having challenges with WF giving me a value to counter the buyer and agreeing to a hud; once we get the buyer to agree, they start another appraisal and .... here we go again need 30-50k more??
Comment by Julie Vrigian CSSG, CSSP on June 8, 2010 at 12:18pm
It is always nice to hear a story like Michael's.

Southland,
I guess it just goes to show that we can have a bad experience or good, with any lender. BofA is a pain in the ### to me.
Comment by Terri Vellios on June 8, 2010 at 10:25am
Both sides of the deal? Did that mean the Buyer was financing through WF? I had heard with BofA they would expedite.
Comment by Michael Hall on June 8, 2010 at 7:45am
Sylvia,

Wells Fargo paid 6% plus $1000 bonus if I was able to get it to fund and close within 30 days from pre-approval.

Julie,

I have to agree. Wells Fargo is the best. Once I learn the bank is Wells Fargo I smile :)

Southland,

Sorry to hear you are having such an issue with Wells Fargo. I know my last three through them have been very smooth.
Comment by Southland Real Estate on June 7, 2010 at 10:02pm
Very nicely done
Wells Fargo has been very flaky for us:
Changing values
Losing documents (after acknowledgment)
Moving negotiators
1st and 2nd with different negotiators

Very disappointed with their performance to date.
For now, they are generally in the 'SUCK' category.
Comment by Julie Vrigian CSSG, CSSP on June 6, 2010 at 12:57pm
I have been negotiating short sales for myself and other agents for about 3 years now and by far, W.F. is the best lender to work with. I love it when I get a short sale with them as I know that they do not fool around and their system allows for a reasonably quick close.
Comment by Andy Morris on June 5, 2010 at 12:25pm
congrats!
Comment by Sylvia Finocchiaro on June 4, 2010 at 5:03pm
What % did they pay you for commissions?

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