I am often amazed by how hard I sometimes work!  Do you recall the tale of the Encino condo  I and another real estate agent diligently put together on Christmas Eve?  I had two events to attend and was rushing like a crazy woman in order to get the paperwork completed and escrow opened.

The other real estate agent and I triumphed and escrow was opened.  Unfortunately, there was a cloud on title… the previous lender lost the deed of trust and didn’t have a valid lien (read the post here).   After three month’s back and forth with Wamu’s successor, they may accept a substantial discount. Although there is not a valid lien and this is not a short sale, the request must be processed as one…. I don’t argue with the banks… I just do what they want; otherwise it’s similar to arguing with the DMV.  

Short sale documents were submitted last week. The buyer was still hanging in but now he is concerned he might lose his first time buyer’s tax credit.  We have negotiated, that in the event we are unable to close by the end of June, the estate will credit him $8,000 towards his closing costs.  We still need probate court confirmation... And written approval from the lender…

It will be challenging to see how long it takes this one to close.