The saga is over. Unless a sequel magically appears.
Following up with my previous post, we learned that the “minimum” price GreenTree will accept is $224,000. Our Short Sale Negotiator wanted us to counter the $230,000 offer with a $210,000 offer…the thought being they would counter again at $224,000 and everyone would be happy. I told her “No. Absolutely not. We had previously discussed that the most we would pay is $210,00, to accommodate for the market increase over the past year….but have since decided that we will not pay a penny more than the original $192,500 and if that means this deal is closed and over and you want to hang up, then hang up. We’re done.”
She tried to reason with me, but I told her I was done. This has been the worst possible experience and it’s all John’s fault and it’s been his fault from the beginning. I provided her with example after example. When I mentioned that we had bank approval from Bank of America, she seemed surprised. Apparently she hadn’t read our full file? Or the response in my previous post? Ugh. Disturbing.
I’ve consulted with two attorneys, both disgusted that a Short Sale Negotiator became involved when we were already this far into the purchase. Both attorneys concerned about the overall handling of this sale/purchase. Both confused as to why the loan would have been sold when we supposedly had a resubmitted offer to Bank of America in June. But both also saying that there really isn’t anything we can do.
We submitted an official counter-offer on Thursday, restating that $192,500 was our offer.
Today, Monday, we received another counter offer- $220,000 final.
I told her no.
Sad sad. I believe we did everything we could – and we maintained a positive attitude and hope, and whenever they asked for something we had that back to them within hours. We have 110% to this process. Other people, eh, not so much. I believe in karma.
Anyway, I’ve learned a HUGE lesson in all of this. Heed these words if you ever decide to engage in a Short Sale….
Get proof of everything. Get documentation of every move they make. If you receive an email that says, “your offer was sent to the bank”….ask them to supply proof, some sort of documentation you can retain that shows that indeed, the bank has received that offer. And when they say you have approval, get that signed document in your hot little hands. Record every phone conversation, retain every email, keep a thorough timeline. Because you WILL need to reference it again.
I have the email that says our offer was submitted to the bank (back in July). We have assumed NOW that that offer never was submitted. Because if Bank of America really truly did have an active offer on their hands, they would not have sold the loan and we wouldn’t be where we are today. But apparently they didn’t have an active offer, even though we were under the impression that our offer was active. Even though I asked and double checked and was told yes. Even though I have those emails that state that. The fact is, I don’t have proof that it was really done. And if she was lying to me, well, there’s no penalty for misleading a customer.
If I had documentation that the offer really was resubmitted back in June/July, then we’d have a bigger fish to fry!
SO that’s my two cents for the day. The deal is done.
Update 4:45pm Monday 12/9- I told Jim about the “final offer of $220,000” and he suggested we try countering at $200,000. Just in case. I sent a message to Tabitha requesting such. About 30 minutes later she emailed me back with the following, “I just spoke with our negotiator, FINAL sale price to be considered for review with Fannie Mae is $210,000. This price is NOT AN APPROVAL. However, it will be submitted to Fannie Mae for a reconsideration.”SO, we did it. Sent a “FINAL OFFER” at $210,000. After all, that was the amount we agreed we’d be comfortable paying several weeks ago once we knew we were going to have to renegotiate. Stay tuned. Apparently this is not THE END. Yet.
So sorry. L