212 Pheasant Lane, Willard - Another Missouri Short Sale Successfully Closed!
This was one of those short sales, you thought would be really easy.......a piece of cake. Only one bank, great house, excellent location. And it would have been, except for the loan company handling the transaction.
I started a year ago placing the home on the market. The sellers lived out of state, bought the home as 
an investment and had never seen the home. With no keys, the first task at hand, was to gain access to the home. The sellers said the home had never been lived in, but once we gained access, we found utilities on and traces of furniture left in the garage. Hmmmm!
We secured the home and within a few days, received a call from a young man, stating he had been storing some items in the garage and lived down the street. He had tried the garage code and wasn't able to get back in. So I arranged to meet him and allow him to remove his belongings.
Before we were suppose to meet, I received a call from my daughter, asking where all the appliances went? WHAT! Now, the home had been vandalized and the appliances stolen......but the young man's few odds and ends were still in the garage. After reporting the incident to the police, making out a police report, informing the sellers, we started over.
Pricing the home at fair market value, we waited about a month and no offers. We reduced the home $10,000 and waited a few more months.....no offers. Reducing the home once more, we starting getting buyers interested. All of a sudden we receive multiple offers.....over the asking price......almost our starting price. The seller agree on one offer and we submitted it to the bankWe waited, and we waited, and we waited, finally after 4 months we received bank approval to do a short sale! YEAH!!! But then the buyer walked.
I immediately informed all the agents that had shown the house, that I had received an accepted offer and it was again available for sale. Knowing the bank had already agreed on the price, we once again submitted the offer to the bank. A month went by and suddenly we receive a call from the police once more wanting to evict the seller and John Doe from the premises.....Red flags go up!! I had been asking daily if there was a foreclosure date.......no says the bank. We contact the sellers, they immediately hire a local attorney and sure enough, the foreclosure was set in two days!!!! Arrrggg!!! I've been lied to!!!!
The attorney quickly gets the foreclosure stopped and sends a letter to the bank. Not sure what all she said, but within 2 weeks, we have another short sale approval........wrong buyer's name on the approval letter, wrong date (dated October 7), so I call the bank once more. After 5 attempts to send me the corrected short sale letter, I receive it 5 days before closing.
The bank also needs to approve the HUD1 before closing. The short sale letter says nothing about 72 HOURS BEFORE CLOSING. So we're on the phone 3 different times today, asking for the approval.
Today, we closed, no less on the seller's birthday. HAPPY BIRTHDAY! WE FINALLY DID IT!
Another Missouri successful short sale. With the help of great sellers, a wonderful attorney and patient buyers, we did it!
Kay Van Kampen is a local Realtor serving Springfield, Ozark, Nixa, Rogersville, Republic and surrounding areas in Greene, Christian and Webster Counties in Missouri. She is ready and available to help you with all your Springfield Mo real estate needs. To contact her go to www.kayvankampen.com. If you would like a free list of homes for sale in this area/neighborhood, would like more information about Springfield, Ozark, Nixa, Rogersville, Republic, Willard and surrounding areas or would like to be the first to know about hot new listings before other buyers do, then give me a call at: 417.839.4534.
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RE/MAX Solutions www.kayvankampen.com
Springfield, MO, 65721
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