Oh my gosh ... 

I just got the word that I received approval on a short sale for two clients at a price even I can't believe.

You might recall my earlier remarks about the deal from hell. This was the most difficult short sale I've ever accomplished, and possibly the most difficult real estate transaction I've ever closed.

When I last wrote on this topic, the seller was creating problems by interfering and being duplicitous. Once we got the file submitted, this homeowner settled down and allowed the process to flow. A wise decision on his part, since he was his own worst enemy.

Once the file was actually submitted for approval (a 70-day ordeal in itself), the buyer thought she could strong arm everyone. While attempting to browbeat me into unconsciousness may have given her some sort of pleasure, it certainly didn't accomplish anything ... final approval was up to the bank. Calling me three times a day and abusing my daughter and my staff nearly got her fired as a client ... but it didn't do anything to get a dispassionate loss-mitigation officer at the bank to move any more quickly.

This deal is a perfect example of why so many short sales are unsuccessful. Short sales demand perseverance, creativity, strong negotiating skills and good follow-through. Most agents or their clients give up. And when that happens, foreclosure usually follows.

The rewards for the buyer are huge on this deal. As for me, I'm pleased to save the seller from foreclosure. I made new friends and can take pride in a job well done. And that little bottle of Cristal that I'm going to treat myself to will taste oh so good. Cheers.

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