Another Short Sale Success
Today I closed a deal that less than 45 days ago seemed dead and buried. After waiting over 8 months for the bank to approval the short sale of my clients' home, the deal fell apart on August 29, 2012 because a judgment creditor decided to renege on its agreement with my clients to release its lien on their property in order to facilitate the short sale.
That day was not a good one. My clients were very disappointed, maybe even devastated, because they had worked so hard to avoid foreclosure. All for nothing. I was upset because I had been working with my clients for almost a year. Imagine working a year only to walk away from the closing table without a commission check.
But rather than wallowing around in self-pity, I chalked it up to "just not being meant for me" and moved on. Well, apparently, the universe had another plan for me. Despite the fact that the property had been taken off the market, my phone began ringing off the hook with inquiries about this property. I told each caller that the property was scheduled for foreclosure on October 2, 2012 and that because of an uncooperative judgment creditor, we would not be placing it back on the market.
One of the calls I received was from an agent representing an investor. He asked me how much the payoff on the lien was and he said he thought his client might be willing to pay it off. A day or so later, he emailed me and told me that he was going to send over an offer that provided for the payoff of the judgment against my sellers by the buyer.
OMG! I couldn't fricking believe it!! I immediately contacted my clients and their bank to let them know a new offer would be in play within the next 24 hours. In addition to paying off my sellers' lien, this new offer was at full list price. The bank liked that alot because it would net them almost $2000 more than the contract that fell through.
Remember, the bank had taken over 8 months to approve the first offer. They approved the new offer within 2.5 weeks. It was a miracle! We closed today and my clients are so happy. They won't have a foreclosure on their credit and they can start rebuilding their lives. Plus, I left the closing attorney's office with my commission check! Yipeeeeeee!
So, my point in sharing this story with you is to demonstrate that even when things appear bleak, you never know how, why, or when the situation will change. If I had wallowed in the disappointment and frustration I felt when the first deal fell through, sending out negative vibrations to the universe, I doubt that this deal would have been resurrected and more likely than not, I would have brought more adversity into my life.
This situation reenforced for me the imporantance of staying positive and moving forward when things don't go just as planned because you never know what wonderful surprise the universe has in store for you!
That day was not a good one. My clients were very disappointed, maybe even devastated, because they had worked so hard to avoid foreclosure. All for nothing. I was upset because I had been working with my clients for almost a year. Imagine working a year only to walk away from the closing table without a commission check.
But rather than wallowing around in self-pity, I chalked it up to "just not being meant for me" and moved on. Well, apparently, the universe had another plan for me. Despite the fact that the property had been taken off the market, my phone began ringing off the hook with inquiries about this property. I told each caller that the property was scheduled for foreclosure on October 2, 2012 and that because of an uncooperative judgment creditor, we would not be placing it back on the market.
One of the calls I received was from an agent representing an investor. He asked me how much the payoff on the lien was and he said he thought his client might be willing to pay it off. A day or so later, he emailed me and told me that he was going to send over an offer that provided for the payoff of the judgment against my sellers by the buyer.OMG! I couldn't fricking believe it!! I immediately contacted my clients and their bank to let them know a new offer would be in play within the next 24 hours. In addition to paying off my sellers' lien, this new offer was at full list price. The bank liked that alot because it would net them almost $2000 more than the contract that fell through.
Remember, the bank had taken over 8 months to approve the first offer. They approved the new offer within 2.5 weeks. It was a miracle! We closed today and my clients are so happy. They won't have a foreclosure on their credit and they can start rebuilding their lives. Plus, I left the closing attorney's office with my commission check! Yipeeeeeee!
So, my point in sharing this story with you is to demonstrate that even when things appear bleak, you never know how, why, or when the situation will change. If I had wallowed in the disappointment and frustration I felt when the first deal fell through, sending out negative vibrations to the universe, I doubt that this deal would have been resurrected and more likely than not, I would have brought more adversity into my life.
This situation reenforced for me the imporantance of staying positive and moving forward when things don't go just as planned because you never know what wonderful surprise the universe has in store for you!
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