Another Sold North Kingstown RI Short Sale Home

Another Sold North Kingstown RI Short Sale Home

 

North Kingstown RI short sales are here for awhile and my clients had diligently worked with Chase Bank over past months to do a loan

 

 

 

 

modification on their North Kingstown RI real estate home .  Nothing but promises from the bank and no satisfaction from the bank.  So they came to me and my North Kingstown short sale agents team to put their 19 Glenwood  Drive home on the market as a short sale.  We had an offer within 2 weeks.

 

RI short sales have been on the rise in the last few months given the economy and job loss that is being experienced by homeowners.

 

As far as this North Kingstown RI short sale goes we had all the paperwork to Chase and we had a short sale approval in about 35 days at listed price.  The buyer was ready to go too.  The short sale approval letter is what we wanted for them with no monetary contribution at closing.  It was on to the closing table …

 

There was a slight problem or i should say HUGE problem with the buyer’s lender, Navy Federal Credit Union, on closing day last week.  The closing package kept being promised to arrive at the closing attorney’s office and it just did not come…attorney & buyer on the phone…okay it will be there at 1 pm.  We get the call to be there at 5 pm….closing documents are still not in the attorney’s hands.

 

Buyer is getting no satisfaction from the NFCU loan officer.  NFCU was not on it…their explanation- we have alot of refis we are doing.  Hello, we have a  short sale approval letter that we must close by today that you have pushed off for 2 days!! Incompetence might be an explanation for a lack of closing order that short sale closings should be done before refinances don’t you think…  My North Kingstown short sale agents team had received a short sale extension closing date until Tuesday that day if we needed to pull that rabbit out of the hat here.  Buyers and sellers expected to close today, trucks were loaded, movers scheduled….

 

The closing documents arrive finally at 6 pm for the buyer with a wrong loan amount from his bank!!  Back & forth, my sellers signed the documents they needed and knew they would be back to sign again…the buyer agreed on the mortgage amount to get the deal done.

 

It is Monday, the deed is recorded, the sellers are free and clear and the buyer can move in to his North Kingstown RI short sale home that closed late.  Sellers are happy! Another Sold North Kingstown RI Short Sale Home.

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Ginny Lacey Gorman is your go to North Kingstown agent for homes in North Kingstown RI and beyond…knowing the geographic area, schools, happenings,important tidbits of information and businesses well.

 

As North Kingstown short sale agents, if you are having trouble paying your mortgage contact Ginny at 401-529-7849 to help you through the short sale process successfully.