Funny that I had written my last entry about problems in short sales, and here I am, handling one. Fortunately, this sale should be simpler. Most of my business at this point of my career is from client referrals, but an all-cash buyer had contacted me this summer from my website, looking for an investment property. I saw a good deal in a Sunnyvale townhouse, listed as a short sale, but before we could write an offer, the property was in contract.
Around a week ago, the listing agent called me. We knew each other from way back, and she asked if my client might still be interested. The first sale had fallen through when the offer reached the bank's negotiator. Typical for short sales, it had taken two months to reach that point.
My buyer and I went through the townhouse, and re-read the disclosures, and quickly wrote an offer. The package is on its way to the to the bank, and I have scheduled a property inspection to eliminate any surprises down the road.
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