Painful Shortsale. . .
Categories: Foreclosures, Real Estate News, Selling Real Estate
hiShort Sales? Foreclosures? Nobody really liked them as we did not know exactly how they worked. They are like avalanches. You run in the opposite direction but regardless of your efforts to avoid it, it hits you no matter what! No matter how prepared you are or how many endless hours you have dedicated to instruct yourself and learn about this matter……experience is the mother of knowledge! I had a listing, short sale of course , and after almost a year in market there it was, an offer in black and white. I couldn’t believe my eyes so when I presented to the bank I was shocked! The offer came on February 2, 2009 and the bank had transferred title on January 20th, 2009 to the Association. Although there is no Certificate of Title issued, the offer was not accepted as according to the bank my client was no longer the owner of the property. Then I learned that the certificate of title will never be recorded as the Association rejected the transfer on January 23, 2009. Now where do I go and who do I turn to as I don’t even have a listing no more!
