**To Access All Listing Disclosures**
Homecards "Email" Login: Disclosures
Once in, Select: Stored Documents Tab at Top
Please Check Short Sale Updates Below
We make every attempt possible to keep you informed of the status of a short sale transaction by posting updates every Friday or Saturday recapping that week's events. Please locate the address you're interested in below.
Should you find that you still have questions, please E-MAIL your questions to Crown Associates and we will promptly reply. However, keep in mind that if we don't have it noted below...we may not have an answer yet either.
**PLEASE READ**
AGENTS FREQUENTLY ASKED QUESTIONS:
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How long does it take for the lender(s) to respond?
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Why does it take so long for them to answer?
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Are these "approved" short sales?
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Since the lenders will only respond to a "full" short sale package, which includes an offer, there aren't any "pre-approved" short sales. However, if a previous offer didn't work for the lenders' needs or if a previous prospective Buyer rescinded their offer, the lender may have responded to the old offer. Your new offer will still be subjected to their review process which can be another 30 days.
- Do we hold offers to get the "highest & best"?
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Will the lender accept Seller Paid Closing Costs?
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Do the lenders always apply the same formula to a short sale?
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How can I best prepare my Buyer wanting to put an offer on one of your short sales?
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You can follow the Login instructions in the MLS Broker Remarks to download the addendums and instructions for the specific property, which includes a letter to your Buyer, explaining how our short sales work and what expectations are realistic versus unrealistic.
COMING SOON!
**Coming Soon** Great Single Family Home Short Sale Opportunity!
**Coming Soon** Great Townhome Short Sale Opportunity!
ACTIVES
Multi-Family Properties
Offer Count: 3 Still Accepting Offers!!
Week Ending:
3 July 2009 - Offers are being processed to send to lender for review. Have a great 4th of July weekend!
26 June 2009 - Bring us an offer!
12 June 2009 - Lender has expressed that the current offer in hand is too low. Bring us an offer!
05 June 2009 - Sale date has been extended. Waiting for offer.
29 May 2009 - (Waiting for information from our negotiator)
22 May 2009 - We do not have any new news to report. Have a Happy Memorial Day Weekend!
15 May 2009 - The lenders are reviewing the file.
8 May 2009 - We've supplied the lender with the Buyers response so they are evaluating it.
1 May 2009 - We're working with Buyers to see if they're willing to move forward with the banks counter.
24 April 2009 - The lender has informed us of the amount that they're willing to accept.
17 April 2009 - This lender apparently isn't the type to relay any news while they're processing a file...no new news.
10 April 2009 - Unfortunately there wasn't any new news this week.
3 April 2009 - The file was assigned to a negotiator on 24 March 2009. They've informed us that it typically takes six weeks to process. As stated below the BPO was completed, so they should have their nose to the grindstone.
27 March 2009 - The BPO occurred this week so the lender is waiting for this information to continue.
22 March 2009 - Lien holder is reviewing file.
14 March 2009 - Short Sale Package was sent to Lender.
6 March 2009 - We've been able to get all documents from the Seller...except one. We anticipate getting that from her this weekend in time to send entire package to the lender on Monday.
27 February 2009 - Unfortunately we're still working to get all documents, yet the Seller's schedule has eased up a bit to allow us to better coordinate. We anticipate having all final documents this upcoming week.
20 February 2009 - We're still working to get all documents.
13 February 2009 - The file is in process and we're obtaining all documents from the Seller. Once received, it will be sent into the negotiator.
Great 4-Plex Investment Short Sale Opportunity! Bring all offers!
Offer Count: 0 Bring us an offer!
Week Ending:
Base Information: Seller is gathering required information.
Great 4-Plex Investment Short Sale Opportunity! Bring all offers!
Offer Count: 0 Bring us an offer!
Week Ending:
(Until we have an offer, we do not have any further news to report)
26 June 2009 - Bring us an offer!
23 Jan 09 - The first lien holder has acknowledged the letter of authorization in their system and the second has sent their short sale package for the Seller who will be filling out the requested information and compiling the requested documents.
Base Information: EMC will not release their short sale package until they have a letter of authorization on file for us. We are working to obtain.
Great 4-Plex Investment Short Sale Opportunity! Bring all offers!
Single Family Properties
Offer Count: 4 Still accepting offers!
Week Ending:
3 July 2009 - Since the BPO has been completed, the file has moved to the Phase 2 negotiator. Have a great 4th of July weekend!
26 June 2009 - Negotiator assigned and in touch – appraisal ordered 6/15 and is to be completed before Friday 6/26
19 June 2009 - (Experienced computer issues - could not upload information)
12 June 2009 - The lender has been reviewing new paperwork.
05 June 2009 - Lender requested updated paperwork. Paperwork has been submitted.
29 May 2009 - (Waiting for information from our negotiator)
22 May 2009 - Unfortunately we do not have any new news to report. Have a Happy Memorial Day Weekend!
15 May 2009 - We have been informed that the "workout" is in progress. They would not tell us whether the file has been received into the short sale department or if it has been assigned. Just that it is "in progress".
8 May 2009 - The file was referred to the lender's short sale department and they've indicated that after acceptance in that department, the appraisal should be ordered within 5 days. They indicated that the review process should be between 30 - 45 days. Let's hope so!
1 May 2009 - No acknowledgement of receipt into their system yet. This can sometimes take up to three weeks. We'll keep checking!
24 April 2009 - We requested another item from the title company while we're waiting for the file to be assigned to a negotiator. No news at this time.
17 April 2009 - We received the necessary items from the title company, put the file together and submitted to the lender.
10 April 2009 - Our negotiator is processing the offer package and awaiting a few items from the title company.
3 April 2009 - The Seller was out of town and out of communication, yet expected to return back today. We will be processing new offer with the Seller and getting it back to our negotiator to package and send to the lender.
27 February 2009 - Both the first and second lien holders have accepted the Letters of Authorization.
20 February 2009 - We received the required information from the Sellers so Letters of Authorization to be faxed to the lender on 23 February 2009.
Great Single Family Home Short Sale Opportunity! Bring all offers!
Offer Count: 1 Still accepting offers!
Week Ending:
3 July 2009 - The lender has given us an indication of what they're looking for in an offer. Price has been adjusted accordingly. The file continues to be reviewed. Have a great 4th of July weekend!
26 June 2009 - Bring us an offer!
19 June 2009 - (Experienced computer issues - could not upload information)
12 June 2009 - The lender had requested some new information which has been submitted. The BPO was completed today as well.
05 June 2009 - Waiting for response from lender.
29 May 2009 - This week we coordinated with the Seller and Buyer to make sure that we have the full short sale package together which will now be sent in next week!
22 May 2009 - For some reason the lender still did not acknowledge the Letters of Authorization that were sent in. Therefore we resent them and are waiting for them to be accepted into their system. Have a Happy Memorial Day Weekend!
15 May 2009 - Unfortunately we had a few technical difficulties in receiving the first offer. Those have been resolved and the file is being processed.
8 May 2009 - Letters of Authorization have been sent to the lender. They indicated that it takes 3 days to process. Additionally, we received the first offer so we will be processing that as well.
24 April 2009 - The buyers have decided to withdraw their offer so bring us an offer!
17 April 2009 - Initial offer is being processed.
27 March 2009 - Seller is still pulling thier initial paperwork together.
Great Single Family Home Short Sale Opportunity! Bring all offers!
Offer Count: 2 Still accepting offers!
Week Ending:
3 July 2009 - Offers are being processed and the Seller is also gathering remaining required documents. Have a great 4th of July weekend!
26 June 2009 - Waiting for offer.
05 June 2009 - Great News! Listing is live.
Great Single Family Luxury Home Short Sale Opportunity!
Offer Count: 3 Still Accepting Offers!
Week Ending:
3 July 2009 - Our negotiator has spoke with a manager with the lender to see why we are not getting any communication about this file. The manager is checking into it, yet we have not heard back yet. Have a great 4th of July weekend!
26 June 2009 - Hope to have information soon.
19 June 2009 - (Experienced computer issues - could not upload information)
12 June 2009 - Unfortunately no new news.
05 June 2009 - Property is now accessible again. Please set showings through the showing service. We are still expecting an answer at any time.
29 May 2009 - Earlier this week, the lender's negotiator said we should have an answer "by the end of the month". We do not believe that he realized that this week was the end of the month. We've called back to ask for another escalation yet did not get a return call by the end of today.
22 May 2009 - Despite several phone messages, we have not received a return call on this file. Hopefully that means that they're working diligently on it. Have a Happy Memorial Day Weekend!
15 May 2009 - No new news. We were still only told "soon". Our negotiator did ask for an escalation to management, yet we did not hear from management by the end of the week.
8 May 2009 - I wish I had good news....but the lender did not have an answer. Once again, we were told that we should hear "soon".
1 May 2009 - Our negotiator has been told that we should have an answer by 7 May 2009. Lets hope they keep their word!
24 April 2009 - Unfortunately the lender has not communicated anything more than the previous week...the file is still in review.
17 April 2009 - File is still in review. We were told that we should have an answer within the next two weeks.
10 April 2009 - The lender asked for more information which we quickly got to them. The file is still being reviewed.
3 April 2009 - Apparently the processor inadvertently closed the file and had not been responding to our continual efforts to contact them directly. We doubled our escalation efforts and finally got to a manager who asked us to resubmit the file which we did. So management is reviewing.
24 March 2009 - The processor is still reviewing the file.
14 March 2009 - Our negotiator has escalated the file. No news yet.
9 March 2009 - No new news. The file is still in review.
27 February 2009 - The lender had asked for more information which we quickly got to them. Our negotiator feels that they're on the verge of making a decision. Let's hope so!
20 February 2009 - Due to the fact that we'd had a few recissions, the file has been re-assigned to a new negotiator on 17 February 2009. With the fact that they have the BPO completed, they're anticipating being able to give an approval soon.
13 February 2009 - No new news to report, yet we've still got our fingers crossed for news this upcoming week.
10 February 2009 - As it turns out, the file was assigned to a processor on 16 January 2009. The processor has been familiarizing themselves with the file and they've expressed that we should hear from them (with hopefully an approval) by 16 February 2009.
3 February 2009 - Unfortunately we don't have any new news to report...they're still processing the file.
25 January 2009 - File is still in review.
16 January 2009 - The file is in review, the bank is getting together a cost analysis and things are moving along quite well.
6 January 2009 - Happy New Year! The lenders have acknowledged receiving the short sale package and are processing it in their system. No negotiator has been assigned by the bank. Of course, holiday schedules also come into play.
19 December 2008 - (I've not been able to connect with our negotiator)
12 December 2008 - While we didn't get anything new this week, the lender did mention that their process is not as slow as some of the other lenders (we're not sure what that means, yet we hope it is true!)
5 December 2008 - Lender is still processing file.
28 November 2008 - Happy Holidays!!
21 November 2008 - Buyer rescinded, but the process has begun so the file is still moving forward with the lender. **We need an offer**
14 November 2008 - Current offer has been processed and is being sent to our negotiator. In turn, the short sale package will be fully compiled and sent to the lender.
Great Single Family Home Short Sale Opportunity! Bring all offers!
Offer Count: 0 Bring us an offer!
Week Ending:
(Until we have an offer, we do not have any further news to report)
26 June 2009 - Bring us an Offer!
12 June 2009 - Listing is live! The lender requested new Letters of Authorization which we submitted.
05 June 2009 - Listing should be going live first part of next week.
29 May 2009 - We received the signed Letters of Authorization from the Sellers which we'll be sending into the lender. We should have this listing live soon!
Great Single Townhome Short Sale Opportunity!
Offer Count: 3 Still Accepting Offers!
Week Ending:
3 July 2009 - At this time we have not been informed as to who the negotiator for this new phase is. We keep inquiring. Have a great 4th of July weekend!
26 June 2009 - Has been moved to the second phase.
19 June 2009 - (Experienced computer issues - could not upload information)
12 June 2009 - We requested a status update, yet have not received any return information.
05 June 2009 - File has been assigned to a negotiator.
29 May 2009 - The file has been assigned and we've begun initial contact. This week they were familiarizing themselves with the file so there wasn't anything new to report. Yet now we're hoping that the BPO will be ordered soon.
22 May 2009 - Unfortunately there is no new news to report. Have a Happy Memorial Day Weekend!
15 May 2009 - Still no word on whether the file has been assigned.
8 May 2009 - Apparently this initial "review" is just administrative. The file has not yet been assigned to a negotiator, therefore they can not yet order the BPO. We have been told that the file "should" be assigned soon.
1 May 2009 - The lender requested more information from the Seller which we provided. File is still in review.
24 April 2009 - File is still in review. No new news.
17 April 2009 - File is still in review. Unfortunately we don't have any other information.
10 April 2009 - The lender has finally confirmed receipt of the file. They've begun reviewing.
27 March 2009 - The Seller has provided all of the recently requested information to the lender therefore we've been consistently calling to see if we can get any information from them based on this provided information. Nothing yet.
22 March 2009 - Entire short sale package was sent in to lender, yet when we call to confirm receipt they're playing the "we didn't get it" game. So we're resending. In the meantime, they've also requested some information from the Seller who is busily getting it together for us.
14 March 2009 - Offer is being processed! Once completed we will send on to our negotiator who will then send on to the lender.
23 January 2009 - The lien holder has acknowledged receipt of the Letter of Authorization and a short sale package has been sent to the Seller who will be filling out the requested information and compiling the requested documents.
Base Information: Letter of Authorization has been sent to the lender.
Great Townhome Short Sale Opportunity! Bring all offers!
Offer Count: 1 Still accepting offers!
Week Ending:
3 July 2009 - Offer is being processed and the Seller is also gathering remaining required documents. Have a great 4th of July weekend!
26 June 2009 - Both LOAs are in system and have requested additional information from the homeowners.
12 June 2009 - Letters of Authorization sent to the first and second lien holders, yet they haven't acknowledged in their systems yet.
05 June 2009 - Great News! Listing is live. Great Single Family Luxury Home Short Sale Opportunity!
Offer Count: 1 Still accepting offers!
Week Ending:
3 July 2009 - Offer is being processed and the Seller is also gathering remaining required documents. Have a great 4th of July weekend!
05 June 2009 - Waiting for an offer.
15 May 2009 - The lender did acknowledge receipt of the Letters of Authorization and we have all of the required documents from the Seller.
8 May 2009 - Letters of Authorization have been sent to the lender, yet they have not acknowledged them in their system yet.
Great Single Family Home Short Sale Opportunity! Bring all offers!
Offer Count: 0 Bring us an offer!
Week Ending:
3 July 2009 - Sorry, but no showings until further notice.
Base Information: There is a third lien holder that we have been working with to obtain a release. It is progressing nicely.
Great Single Family Home Short Sale Opportunity! Bring all offers!
Offer Count: 1 Still accepting offers!
Week Ending:
3 July 2009 - Offer is being processed and the Seller is also gathering remaining required documents. Have a great 4th of July weekend!
05 June 2009 - Waiting for an offer to process.
6 March 2009 - Both lenders have now acknowledged receipt of the Letters of Authorization.
27 February 2009 - The second lien holder has acknowledged receipt of the Letters of Authorization. The first lien holder is still claiming that they have not received them even though we've continually re-faxed it to a negotiator's direct fax number. We'll keep working on it!
20 February 2009 - Letters of Authorization have been faxed in, yet the lenders state that they did not receive them. They asked that we refax, which we did.
13 February 2009 - Letters of Authorization faxed in.
Great Single Family Home Short Sale Opportunity! Bring all offers!
Offer Count: 2 Still accepting offers!
Week Ending:
3 July 2009 - Offers are being processed and the Seller is also gathering remaining required documents. Have a great 4th of July weekend!
26 June 2009 - Assigned and working with negotiator.
05 June 2009 - Waiting for an offer to process.
29 May 2009 - Apparently one of the loan numbers was incorrecton the Letter of Authorization so we're correcting and resubmitting.
22 May 2009 - Letters of Authorization have been submitted. Have a Happy Memorial Day Weekend!
15 May 2009 - Due to a new submittal process for the lender, we will be submitting the Letters of Authorization next Tuesday.
Great Single Family Home Short Sale Opportunity!
Offer Count: 4 Still accepting offers!
Week Ending:
3 July 2009 - We've been informed that we should expect an approval next week. Have a great 4th of July weekend!
26 June 2009 - Moved to phase two. Should have answer shortly.
19 June 2009 - (Experienced computer issues - could not upload information)
12 June 2009 - Once again the lien holders requested some updated information from the Seller which we've submitted.
05 June 2009 - File is being forwarded for approval.
29 May 2009 - The second lien holder requested a few revised items from the Seller which we're obtaining. Once we have the items back and re-submitted they will send on to their final processing. Unfortunately the first lien holder did not supply us with any updates.
22 May 2009 - While we inquired about the status of the file, they did not respond to us. We're sure that the BPO was needing to be processed into their system for review. Have a Happy Memorial Day Weekend!
15 May 2009 - The BPO for the first lien holder was done on Friday, 15 May 2009. The second lien holder required one more document from the Seller which we're getting.
8 May 2009 - The first lien holder has acknowledged that they have received the fax, yet it hasn't been scanned into their system. The second lien holder has acknowledged receipt of all required documents. They have begun reviewing.
1 May 2009 - The lenders have not yet assigned the file to a negotiator.
24 April 2009 - The Seller has provided us with all requested documents and the negotiator has put the package together and sent to the lien holders.
17 April 2009 - We're still waiting for the Seller to provide all of the requested documents. We've been diligently contacting.
10 April 2009 - We have requested a few missing items from the Seller which they're diligently gathering.
27 March 2009 - Offer and package is being processed to send to lender.
27 February 2009 - The re-faxed Letter of Authorization to the first lien holder has been accepted into their system.
13 February 2009 - Letter of Authorization faxed to lien holders. First lien holder asked to re-fax because they didn't receive. The second lien holder indicated that it will take them 7-10 days to process into their system.
Great Single Family Home Short Sale Opportunity! Bring all offers!
Offer Count: 4 Still accepting offers!
Week Ending:
3 July 2009 - The lender has acknowledged receipt of the entire package in thier system. It is now waiting to be assigned to a negotiator. Have a great 4th of July!
26 June 2009 - Lender required additional information from seller.
19 June 2009 - (Experienced computer issues - could not upload information)
12 June 2009 - We received all of the requested information from the Seller and have forwarded to the lenders.
05 June 2009 - Waiting for updated financials.
29 May 2009 - The lien holder is requesting some updated information from the Seller which we're obtaining.
22 May 2009 - Offer package is being processed. Have a Happy Memorial Day Weekend!
15 May 2009 - The Seller works out of state and does not have regular access to fax or e-mail, therefore it takes more time for us to coordinate with the Seller. Now we are waiting for the counterproposal back from the Buyer.
8 May 2009 - We are in receipt of the first offer. We are processing!
17 April 2009 - The second lien holder FINALLY acknowledged receiving the Letter of Authorization!
3 April 2009 - Ditto from previous week...
27 March 2009 - The second lien holder still does not acknowledge receiving our original fax with the Letter of Authorization. They said that it can take up to three weeks to process a fax (unbelievable)! Keep this time frame in mind since this will apply for submitting offers as well.
6 March 2009 - The Letter of Authorization was mailed to the second lien holder, yet they're now requesting that the Seller send an additional letter requesting file access by our negotiator. We're in the process of obtaining and submitting.
27 February 2009 - The first lien holder has acknowledged receipt of the Letter of Authorization. The second lien holder requested that their Letter of Authorization be sent via U.S. Postal service and unfortunately it was returned in the mail. We've re-verified the address and mailed it for the second time.
20 February 2009 - Letter of Authorization faxed to both lien holders. The first requested some more information. The second lien holder has not acknowledged receipt yet.
6 February 2009 - Letter of Authorization mailed to lien holder. It will take them four days to process once received
Great Single Family Home Short Sale Opportunity! Bring all offers!
Offer Count: 3 Still accepting offers!
Week Ending:
3 July 2009 - We're still in a holding pattern under the guise of "soon". Have a great 4th of July weekend!
26 June 2009 - We were still told that the file is almost ready for approval.
19 June 2009 - (Experienced computer issues - could not upload information)
12 June 2009 - The file is in the last stages of review. We were told that we should hear "soon". I expect that we should hear something by the end of the month.
05 June 2009 - We are expecting it to be heading into final approval group.
29 May 2009 - All items requested of the Seller have been sent in. No word about whether the BPO's have been received though.
22 May 2009 - Both lien holders ordered BPO's and they were both performed on Wednesday of this week. They were due back to the lenders by Friday. Therefore, next week they'll be reviewing results. Have a Happy Memorial Day Weekend!
15 May 2009 - The second lien holder has informed us that they're willing to accept what is being offered by the first. The first lien holder has requested more information from the Seller, which they have provided to us and we have given to the lender.
8 May 2009 - We have been informed that they're expecting to give the file to management for final review in 15 days.
1 May 2009 - We do not have any new news on the file, yet our negotiator has asked that the file be escalated to management because of the lack of response on thier part. We'll see if that helps spur them into action.
24 April 2009 - File is being reviewed by new negotiator with the first lien holder. This negotiator is familiarizing themselves with the history of the file. The second lien holder is still just reviewing the file.
17 April 2009 - The file is supposed to be given to management to review by 21 April 2009. They would not impart any other information.
10 April 2009 - Since the last update below, we'd been told by the first lien holder that we should stop calling because "...we were impeding their process". However, we keep calling trying to encourage them to make a decision. We've not gotten a response as of yet, but we'll keep contacting.
**Apparently we experienced technical difficulties and my previous updates did not stay**
24 March 2009 - We were informed that we should have news by 1 April 2009.
14 March 2009 - While the first lender still doesn't seem to have the appraisal fully in their system yet, we did receive an approval from the second lienholder. In conjunction with a fairly complete file, this should incite the first to make a decision quickly since that is what they stated at the end of February. We can only hope!
9 March 2009 - The appraisal was completed on Thursday, 5 March 2009. The lender has not yet received it in their system yet.
27 February 2009 - The appraisal is scheduled for Thursday, 5 March 2009. Furthermore, the lender requested a few more items from the Sellers which we are getting. After those two items are completed we were informed that "...the lender would be making a decision quickly".
20 February 2009 - Unfortunately we do not have any new news other than they're still processing the file.
13 February 2009 - They're still processing the file.
10 February 2009 - While the file was supposed to be assigned to a processor by 4 February 2009, they could not tell our negotiator if it had truly been assigned yet. It very well may have been assigned and the processor is most likely familiarizing themselves with the file (just an educated guess on the latter though).
2 February 2009 - The BPO was ordered today and we've been informed that the file will be assigned to a negotiator with the lender on 4 February 2009.
23 January 2009 - File is being reviewed by lenders negotiator.
16 January 2009 - The lender is still processing the short sale package.
6 January 2009 - Happy New Year! The lenders have acknowledged receiving the short sale package and are processing it in their system. No negotiator has been assigned by the bank. Of course, holiday schedules also come into play.
Great Single Family Home Short Sale Opportunity! Bring all offers!
UNDER CONTRACT
Week Ending:
12 June 2009 - The lenders have chosen a contract to work with - **This Property is Currently Under Contract**
05 June 2009 - The lender is presenting the file for final approval with the Investors. We've been told that we should have an answer within the next two weeks because they're hoping to close on the file in July.
29 May 2009 - We finally have some info to report! The Appraisal has been ordered and we've coordinated it for next week. They report that from time of order to receipt into their system it takes about 10 days. The foreclosure sale date has been postponed. And the second lien holder has reduced the amount that they were demanding to receive. Additionally, the lien holder stated that the information from the Seller needed to be updated so we're in the process of getting the updated requested documents and will submit as soon as possible.
22 May 2009 - No new news to report at this time. Have a Happy Memorial Day Weekend!
15 May 2009 - No response from management yet. Our negotiator called multiple times this past week to see if he could get some sort of information yet it was to no avail.
8 May 2009 - Our negotiator learned that nothing has happened on the file so he has requested that it be escalated to a supervisor. He is scheduled to speak with the supervisor by Monday. And while he was previously lead to believe that they were going to order another appraisal, it sounds like they're now not sure if they're going to do a new one.
1 May 2009 - No word on the appraisal yet and the rest of the file remains in review.
24 April 2009 - The file has been assigned to a negotiator. We anticipate that the appraisal will be ordered soon.
17 April 2009 - We have been informed that the file will be be assigned by the end of this week (today). Additionally the appraisal will be ordered after the assignment, if needed. Once again, we are in a holding pattern as the file is being reviewed...
10 April 2009 - The first lien holder has acknowledged receiving the package and they have assigned a rep to review the file. They informed us that they have ordered a new BPO or appraisal, yet we have not been contacted yet to set that appointment.
3 April 2009 - The second lien holder has responded quickly with what they want to receive from the short sale. However, the first lien holder has said that they're still processing it into their system. Once acknowledged by the first lien holder we're going to work hard to insist that they do a new BPO as their previous one is quite stale by now.
26 March 2009 - Unfortunately our negotiator was informed by both lenders today that the file had been closed on this property (due to their protocol) in which case, it now has to be completely re-opened and re-approved. We expect them to perform a new appraisal, but we'll see.
22 March 2009 - The package has been sent in to the lender and they are reviewing.
14 March 2009 - Offer is being processed and will be sent to our negotiator who will send to lender once processing is complete.
27 February 2009 - The Buyers have not been able to get a loan. This property is now an approved short sale!!
31 December 2008 - Happy New Year! The lenders have chosen a contract to work with - **This Property is Currently Under Contract**
19 December 2008 - The first apparently didn't submit the offer to their investor last week as they originally promised; instead, because they had that miscommunication and discrepancy identified last week, they were still evaluating that piece. By the end of today, however they came to an internal agreement at the initial level and will be submitting the file to their investor tomorrow. We've been told that it can take 7 to 10 days for the investors to review and submit a formal approval, which may actually have changes from our initial understanding. We hope to hear sooner, yet with this information it means we could have the approval on 31 December 2008. We're almost there!
12 December 2008 - Apparently there has been a miscommunication within the first lien holder's operation. Our negotiator worked with them this week to clarify the miscommunication and got them to send it to their investor for approval. We've been informed that the lien holder's negotiator feels that she should have an answer by next Wednesday, 17 December 2008.
5 December 2008 - The negotiator for the second lien holder was out of the office for the past three days sick. He anticipates that their approval is in his stack of paperwork. He plans on contacting our negotiator by Monday with the news. Once the second's approval is provided to the first lien holder, it has been expressed that we should then have an answer as to whether or not they'll approve a short sale within the next two weeks!
28 November 2008 - The file is still in the final stages of review now that they have all of the required information. Happy Holidays!
21 November 2008 - With the new information provided, the lien holders have the file in the final stages of review. They did ask for a few more items from the Seller, and we're obtaining those.
14 November 2008 - The information requested has been provided to the lien holders. We've been informed that the file is under final review.
7 November 2008 - Unfortunately we do not have any new news to report.
31 October 2008 - No response to our negotiator's inquiries this week. Happy Halloween!
29 October 2008 - Unfortunately we do not have any new news to report.
17 October 2008 - No response to our negotiator's inquiries this week.
10 October 2008 - The bank is still evaluating the information.
3 October 2008 - BPO has been ordered and is happening on Monday, 6 October 2008. Once this is completed the bank will evaluate the valuation of the property against the offer(s) in hand.
26 September 2008 - Still no response to our negotiator's inquiries.
19 September 2008 - We wish that we had more information, yet the first lien holder has not responded to our negotiators' inquiries.
12 September 2008 - We are still waiting for a response from the first lien holder.
5 September 2008 - The second lien holder's request has been conveyed to the first lien holder who has yet to give any response.
29 August 2008 - While we're still waiting to speak with the assigned negotiator for the first lien holder, the second has given a verbal on what they want to receive from the short sale. Have a great Labor Day Weekend!
22 August 2008 - We are waiting for a negotiator for the lender to be assigned.
15 August 2008 - Initial offer submitted along with entire short sale package to lien holder. Bank is beginning initial processing.
Great Single Family Home Short Sale Opportunity! Bring all offers!
Week Ending:
26 June 2009 - The lenders have chosen a contract to work with - **This Property is Currently Under Contract**
12 June 2009 - Myself and the Sellers provided the lender with some more information. They're reviewing.
05 June 2009 - We are still working on the negotiations.
29 May 2009 - OK we learned that the negotiator was actually out of town last week and is playing catch-up this week so unfortunately there still isn't any news.
22 May 2009 - Despite several phone messages, we have not received a return call on this file. Hopefully that means that they're working diligently on it. Have a Happy Memorial Day Weekend!
15 May 2009 - The lender is still reviewing the last information requested from the Seller. No new news to report.
8 May 2009 - The lender acknowledged receiving the information that they'd requested from the Seller, so they're reviewing.
1 May 2009 - The lender has reviewed the information provided by the Sellers and seems to have "softened" on their requirements for the Sellers even though we don't have specifics. They did request a few more items from the Sellers which we've supplied to their lender. Hopefully this means that they're ready to make a decision soon.
24 April 2009 - The Sellers have given us the information on what they can do to try to comply with the lender's stipulations. We have sent it on to the lender and we're waiting for their response.
17 April 2009 - The Sellers are determining what they are able to do per the lender's stipulations. They should have an answer to us by next week which we'll relay to the lender and see if we can move forward.
10 April 2009 - We've learned that the lender has stipulations for the Sellers, so we're working with the Sellers to understand if they will be able to comply.
3 April 2009 - We had been told that we should be hearing something soon...nothing concrete yet though.
27 March 2009 - The lender finally responded to our inquiries and let us know that the front line negotiator is preparing the file to go to upper management for final review. Our negotiator was trying to get more information about what specifics may be under review, yet the lender's negotiator remained very vague. Yet this escalation to management should indicate that they'll soon be making a decision.
24 March 2009 - While the lender indicated what they're interested in receiving in the short sale, our negotiator has tried to gain clarification. She has not heard back from them yet.
14 March 2009 - Our negotiator has escalated the file. No news yet.
9 March 2009 - Our negotiator finally got a chance to speak with the latest negotiator. We asked when we would get an approval and they gave us a canned response of "...possibly by the end of April." So again, this is a typical canned response and isn't really specific to this file.
27 February 2009 - The BPO was completed on 12 February 2009. The lender is processing this information and we were informed that we should hear their verdict in about two weeks.
20 February 2009 - The file was re-assigned to a new negotiator on 12 February 2009. Our negotiator has not yet had any direct communication with this new representative, yet we believe it may be someone in upper management. This would be good for a prospective approval. - NEW - Apparently this new representative is not in upper management, there was just a changing of the guards so-to-speak.
13 February 2009 - We've received all documents and sent them into the negotiator who in turn sent them into the lender. Those items are under review.
10 February 2009 - The lender is requesting documents that we're currently attempting to gather!
3 February 2009 - Coordinating with BPO agent today to perform BPO! The lender indicated that they will have the file assigned to an internal negotiator by 4 February 2009. Then our negotiator will be able to work with this person!
25 January 2009 - Package sent to the lender and they are processing in their system.
16 January 2009 - Offer has been processed and is with the negotiator. They are compiling the short sale package to send to the lender.
Great Single Family Home Short Sale Opportunity! Bring all offers!
Week Ending:
12 June 2009 - The lenders have chosen a contract to work with - **This Property is Currently Under Contract**
05 June 2009 - Lender has informed us that they need to net 150k.
29 May 2009 - Entire short sale package has been sent to the lender.
22 May 2009 - We received our first offer which is initially being processed with the Seller. Have a Happy Memorial Day Weekend!
13 February 2009 - Letters of Authorization have been accepted by the lien holder. Once they order the BPO they will process the file within 48-72hours of getting the BPO Back.
Great Single Family Home Short Sale Opportunity! Bring all offers!
Week Ending:
1 May 2009 - The lenders have chosen a contract to work with - **This Property is Currently Under Contract**
28 April 2009 - The buyers have decided that they do not want to purchase the property. Bring us an offer!
13 April 2009 - The lenders have chosen a contract to work with - **This Property is Currently Under Contract**
10 April 2009 - We've been informed that the lenders are sending approvals. We should have them next week!
3 April 2009 - Package has been sent to lender. They have acknowledged receipt of the package and assigned it to a loss mit representative. They indicated that the review process can take up to 30 to 60 days.
27 March 2009 - Offer has been processed and sent to negotiator to put together with entire package to send to lender. Additionally, Sellers are still on track to move out by end of this month so showings will recommence by 1 April 2009.
19 March 2009 - **Showings have been suspended by Seller because she has a brand new baby and works nights, not to mention the fact that they're trying to pack for moving. They anticipate being out by the end of month at which time we'll start showings again.**
14 March 2009 - This property is an approved short sale!
Great Single Family Home Short Sale Opportunity!
Week Ending:
05 June 2009 - Lender requested updated information. Submitted and waiting for approval.
29 May 2009 - The lenders have chosen a contract to work with - **This Property is Currently Under Contract**
22 May 2009 - Back on the Market!! The Buyer could not perform! We need an offer - Short Sale Approved!! Have a Happy Memorial Day Weekend!
3 April 2009 - The lenders have chosen a contract to work with - **This Property is Currently Under Contract**
27 March 2009 - Unfortunately our negotiator did not have any luck connecting with the second lien holder this week; it was perpetual phone tag. We'll be back at it Monday morning! Hopefully they'll stay true to their word (see previous week's update).
22 March 2009 - While the first issued an approval, the second lien holder's negotiator just began reviewing the file. The second did state that he felt he could issue an approval by 2 April 2009. Let's hope so!
14 March 2009 - The first lien holder indicated that they should be able to give us an approval next week. The second lien holder has acknowledged receipt of the package, yet no indication given on timeline. Of course we're hoping that once the first gives an approval this will incite the second to make a decision.
6 March 2009 - File is in review for both lenders.
27 February 2009 - The first lien holder has indicated that the file is with their underwriters. The second lien holder is still indicating that the package has not fully made it through their initial processing.
20 February 2009 - The first lender requested a few clarifications from our negotiator and informed us that their review process can take up to 16 days. The second lender has stated that the short sale package has not fully made it through their initial processing; it can take up to 10 days for them to process from date of receipt.
13 February 2009 - The short sale package has been received by the lender. They are going through the package to make sure that they have all required pieces. If all is there, then they'll start comparing offers to the BPO. Hopefully we'll hear back quickly!
6 February 2009 - The lender has requested more documents from the Seller which we are obtaining.
23 January 2009 - Seller has supplied requested documents to our negotiator who in turn has forwarded them on to the lender.
Base Information: The first lien holder has already completed their BPO and both lien holders have acknowledged receiving the Letter of Authorization to start the file. We're working with the Seller to obtain all supporting documents.
Great Single Family Home Short Sale Opportunity! Bring all offers!
