I LOVE Happy Short Sale Endings! This Oregon Short Sale was a bit of doozy. Mostly because it was a very rural property consisting of 2 homes and a shop on 50+ acres in Glendale, Oregon. Because the land was more valuable than the structures, it was nearly impossible to obtain buyer financing, with the exception of a hard money loan. Trying to find an all cash buyer for this Oregon property was like trying to find a needle in haystack. We knew we needed a miracle.
A Miracle Indeed. After several months of marketing this Oregon property, along came an all cash buyer, and she was totally patient too! As most of you know, there's rarely anything short about a short sale, except what the bank is willing to accept as a payoff. And because many banks take an exorbitant amount of time to process the necessary short sale paperwork, buyers often become impatient and walk just before you receive 3rd party short sale approval.
Fortunately, the Buyer wanted this Oregon property real bad, so she was willing to wait the 10 weeks it took to get bank approval. God bless her! And 30 days later, we closed another successful Oregon Short Sale. One Happy Buyer plus one Happy Seller equals two Happy Realtors! Thanks to my fellow colleague Blanche, for doing a fantastic job in calming the Short Sale seas. And a very special thanks to my Negotiator Lillie, who knew the right buttons to push and had the persistence to keep pushing them. Oregon Short Sale miracles never cease!
I LOVE Happy Short Sale Endings, don't you?