CLOSED! Lowell Massachusetts Short Sale with Wells Fargo!

CLOSED! Lowell Massachusetts Short Sale with Wells Fargo!

Tim Shanahan - Short Sale Agent

Tim Shanahan – Short Sale Agent

I’m trying to keep up with our closings and shout outs to amazing agents, like Tim Shanahan, but I’m SO far behind in posts.  This Lowell, Massachusetts Short Sale was the first I had ever had the pleasure to work on with Tim.  I hadn’t worked with him before, and anyone that knows me knows I’m nervous to work with new agents.  Tim is AWESOME to work with.  He put my mind at ease from the moment I spoke with him on the phone.

This sale was NOT an easy one by any means either.  This was a Wells Fargo first and second and neither side spoke to each other.  THANK GOD I found out the first was backed by Freddie Mac, because I was able to put a ticket in their ear about Wells.  Realistically Wells was doing fine, but the value came in too high and thankfully the buyer was good enough to give us his appraisal to dispute it.

The one thing that drives me NUTS though, is a buyer side title company or attorney who every single week are looking for an approval when the ENTIRE TIME I had quoted them 60-90 days for approval, and when we get it IN that time frame, the buyer isn’t ready to close?!?!?!  Go figure, but that’s exactly what happened on this sale.  The interesting part is we were told two weeks prior to approval the buyer was ready, but apparently he wasn’t.  I will say this one went down to the wire for the buyer, but  his side did manage to close it on the day his rate lock expired, so all in all it was a total success with a LOT of stress that was unnecessary.

The sellers were happy as they got a full deficiency release and I was not sure that would be granted.

Thanks to Tim Shanahan, Julie, and of course Meghan and Noreen from Grugnale Law.


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