Seven-Month Short Sale Ends in Smiles

So Worth the Wait for the Wayt Family...

Patience. The key word that got Sabrina and Shawn Wayt their new home (beyond winning the auction and having enough funds to pay for the home).

Through the seven-month long process, there were times they felt like they were ready to let go and move on. I listened, reassured and also encouraged them to hold out. In the end, I knew the wait would be so worth it for the Wayts.

Short sale properties are never easy, especially with two different bank lienholders. This one was even more complex as it was also an auction property.

The Wayts were the winning bidders of a short sale auction property in March 2016. Before they started the bid process, I made sure we walked through the house and helped get the appropriate professionals to make sure the damages were not massive. The home was in rough shape, but nothing that a little sweat equity couldn't fix. I also provided a list of my contractor names, so they could get a better idea on costs for the future upgrade.

I was focused on making sure the Wayts received proper communication, information and representation. I have been through short sale transactions before and knew the milestones as well as the wait period. I wanted to make sure they were informed in advance, so they could be prepared week-to-week and month-to-month. If you have been through a short sale before, you will know that the there are milestone review dates/deadlines and often times the lienholder(s) wait until that specific deadline for reviews/approvals to take place. It is not ideal, but it's better to know up front.

My focused representation for the Wayts was very important because it also made sure the transaction was moving through appropriately and not just sitting on a lienholders desk. I pushed for my clients and made sure the listing brokers who were the only line of communication to the lienholders knew that we were not backing out and that we wanted to close this transaction in a timely fashion.

When the final approval came down it was all smiles. The Wayts could finally prepare for their new home and get started on the sweat equity.

Help me welcome Sabrina & Shawn Wayt to their new home! Cheers!