Birmingham Short Sale Tip#1, "Log Each Call and You Never Be wrong" Mike Sher, Max Broock Realtors, MI
Option One Short Sale Log, Birmingham, MI
Here is a log for a short sale that I did with Option One. Thought it might be helpful.
Mike Sher
Max Broock
248 644-4700 X242
The Mike Realtor Team is proud to announce that 2009 we closed 56 homes, 22 of them short sales. With our 90% Short Sale success rate, the Mike Sher Team makes sure that each short sale makes it to the closing table. If you are looking to sell your home or looking to buy a great home for a great price, the Mike Sher Team is here to help. Call us at (248) 644-4700 or check us out at www.mikerealtor.com Mike Sher
COLLINSON SHORT SALE - PUBLIC NOTES
04/25/2009 08:43AM by Mike Sher - got the hud back signed by Option one and all is done and closed. I got less commission from the bank then what the listing agreement stated. The seller brought me a casher's check for the rest of my commission. I told her that I needed to get paid and my agreement was with her not the bank for my commission. So, she would have to pay me for any shortage or we could not close
04/25/2009 02:28PM by Mike Sher - Got Harry the then got Jamla 949 XXX-XXXX got a supervisor names Shanin, after waiting 30 mins on hold got to speak to Myra. She told me to email her the signed hud and she will change the letter
04/25/2009 12:20PM by Mike Sher - Called XXX XXX XXXX called loss mitigation, the approval letter was for a sale of $190,000. The sale was really for $192,000, because we had to add some concessions to the purchase to make it work while still giving option one the payoff they requested. The title company would not close the sale unless the approval letter state $92,000. So I had to call option one to get the letter changed.
04/24/2009 03:12PM by Mike Sher - called option one tried to talk to myra but her voice mail was full and had her message said she was going to be out 4/15 and 4/16. I dialed 0 and asked for the loss mitigation dept spoke to Amit of option one loan mitigation, he transferred me to the team leader Jermal lane and his voice mail is full
04/14/2009 09:17AM by Mike Sher - called Myra 800 704 0800 x XXXX her mail box was left her a message. She did call me back and said do not have the buyer call her any more. This offer was finale and that is it!!!
04/11/2009 02:38PM by Mike Sher - Seller emailed myra to plead for her help.
04/11/2009 02:37PM by Mike Sher - Myra called back and said the her offer was firm with not other negotiation.
04/11/2009 09:19AM by Mike Sher - called Myra 800 704 0800 x XXXX her mail box was full
04/10/2009 12:27PM by Katherine Green - Fran from John Adams. Mortgage person for Collinson. Faxed and emailed Myra a 4 page document with the changes. lender letter and note from melder, seller attorney
04/07/2009 03:39PM by Mike Sher - called myra 800 704-0800 x XXXX left her a message and will email her addendum
03/31/2009 10:43AM by Mike Sher - called myra and left a message and let her know that the deal is most likely dead since the buyer can only go up to 190K and that the buyer needed more concessions
03/31/2009 10:42AM by Mike Sher - Pat spoke to me on the phone today and told me that they need the concessions and can only go up to $190,000
3/26/08 Mike Sher Spoke to Myra and she said the bank got an appraisal at 214,000 and would not take less then 91K after all expenses including commissions. She also said they would not allow concessions over 3% I emailed Pat the counter
03/25/2009 01:29PM by Mike Sher - I spoke to Janeen the appraiser and she said she sent it today. I called Myra and let her know that the appraisal was done.
03/25/2009 01:28PM by Mike Sher - Myra called and told me that the appraisal was not done yet
03/24/2009 04:13PM by Mike Sher - sent a email to Myra
03/24/2009 03:29PM by Mike Sher - called agent back and I told her I was working on this as quick as we could. Please keep the buyer on this, we will work it out
03/24/2009 02:17PM by Mike Sher - called 800 704-0800 Myra x XXXX lm at her phone
03/19/2009 05:17PM by Mike Sher - Call Janeen. She did not get the email. I emailed it again and she said she thinks she has it
03/19/2009 05:13PM by Mike Sher - Janeen Cope did the appraisal for Option one
03/17/2009 05:13PM by Mike Sher -Emailed the pa XXXX@earthlink.net and faxed to XXX XXX XXXX to the appraiser Janeen Phone XXX XXX XXXX
03/14/2009 02:02PM by Katherine Green - e-mailed - Myra myra.xxxx@xxxc.com (negotiator Mike talked to 3/14/08) entire Short Sale package & offer (25 pages total)
03/14/2009 01:17PM by Mike Sher - next 3 business day a full appraisal within two weeks by the 28th then we will get answer back.
03/14/2009 01:07PM by Mike Sher - Myra called me today. She is going to order a appraisal. she is checking to see what she has from. Email myra.XXXX@oomc.com
03/14/2009 11:42AM by Mike Sher - Spoke to Gayatri. She told me that it takes up 14 business days from the March10th to get an answer from the negotiator. We can call the retention dept anytime to get an update
03/14/2009 11:37AM by Mike Sher - Called Myra at x XXXX got her voice mail and did not leave a message dialed 0 and got Brandon he transferred me to the Home retention dept 888 275-2648
03/13/2009 01:59PM by Mike Sher -called myra and got her voice mail again. I did not leave a message
03/13/2009 01:19PM by Mike Sher - Called Jeff at XXXX and got him. He said that this was not his file it is Myra x XXXX and she is back Called her and left a message
03/13/2009 01:03PM by Mike Sher - Jamal at 800 704-0800 x XXXX his voice mail was full.
03/12/2009 10:32AM by Mike Sher - spoke to buyer's agent. the buyer wants to know how much longer.
03/10/2009 01:44PM by Mike Sher - Spoke to Harneet she told me that the shortsale was delayed by seller's previous request of loan modification. She also told me that the short sale file was update on 3/7/08 and we do not have negotiator yet. She said I should call on March 17th. I told that I would like to call sooner. She said that I should call on the 14th.
03/10/2009 01:33PM by Mike Sher 800 704 0800 got receptionist and asked for retention dept
03/10/2009 01:31PM by Mike Sher - Called Jamal 800 704 0800 xXXX lm on his office number
03/07/2009 01:53PM by Mike Sher - called Jeff H. at xXXXX now I was told no negotiator
Is on this. Andy said home retention team, they got the offer 21st and that we should get call back 14 days after offer is in. He transferred me to Robyn and I explained the whole thing. Told her not to throw away the old offer. We do not want to start from the beginning
03/07/2009 01:21PM by Mike Sher - Ivan fax 866 452-XXXX walk it over jamal 800 704 0800 xXXXX Re-faxed the offer to Ivar.
03/07/2009 01:03PM by Mike Sher - Bhisheka from dept of home retention dept 888 275-XXX, was transferred to Sayli of the retention dept our new contact is Robyn D. x XXXX package is submitted for finale approval.. Spoke to Robyn who said she was work not on a short sale but a loan modification.. She told me that she did not know there was a short sale on this home. I told her that we spoke to Manish on the 22nd and said they had the hardship and offer in. Robyn thinks that Manish was confused and though we ment the hardship package for the loan modification. Robyn told me to faX the offer to Ivar at 866 452-XXXX and we would get a cal back next week. She said she would walk the file over to Jamal right now who is the head of the dept. Robyn told me to call Jamal at 800 704-0800 x XXXX if I did not here anything back in the 3 to 4 business days.
03/07/2009 10:06AM by Mike Sher - called jeff H at XXXX and did not leave a message.
03/06/2009 01:48PM by Mike Sher - Called Jeff H. at xxxxx and left a message.
03/06/2009 01:42PM by Mike Sher - Called Myra and she is on a leave of absence and all loans that end with 0 need to call xxxxx Jeff H.
03/06/2009 01:32PM by Mike Sher - 888 xxx xxxx called. Spoke to Ralph, he said we have a negotiator myra gliver 888 xxx xxxx X xxxxx. he has transferred me to her but it did not go through
03/05/2009 10:31AM by Mike Sher - called 888 xxx.xxxx they were closed will call back
02/22/2009 01:35PM by Katherine Green - Called 888 xxx.xxxx talked to Manish. They received our hardship package & offer. A negotiator will be assigned to the loan, the 1st update on loan acct, will be available to us on March 7. We need to call in on that day, will find out who the negotiator is and will get more information. They will tell us then if/what we need to do next. If they need more info before then, they will contact us or the homeowner. I told him to please contact us. The process will take 30 - 60 days.
02/20/2009 03:03PM by Katherine Green - Faxed ENTIRE packet again, with all of this enclosed...Fax Cover said this along with address, loan #, & Seller's name, and Mike's # to contact: Enclosed you will find: Purchase Agreement and buyer/seller signed disclosures, buyer FHA addendums, buyer pre-approval letter & copy of Ernest Money deposit check, hardship letter,, Estimated HUD 1, Most Recent W-2, last 2 months of pay stubs, last 2 months of bank statements.
02/20/2009 01:57PM by Katherine Green - Jamilla XXXXXX said she may be submitting an offer in the next day or two.
02/20/2009 12:14PM by Katherine Green - Called to confirm best fax # to send offer to, spoke with Bear id# BH5. He said Authorizations go to this # 949.xxx.xxxx. Offers are faxed to this # 866- xxx.xxxx . Faxing over offer from Pat Wolgost. I asked Baer if we could call tomorrow to confirm they received the offer, he said no wait 72 hours. Said Mr. Sher would have to call though.
Fax Cover said this along with address, loan #, & Maria's name: Enclosed you will find: Purchase Agreement and buyer/seller signed disclosures, buyer FHA addendums, buyer pre-approval letter & copy of Ernest Money deposit check, hardship letter,, Estimated HUD 1, Most Recent W-2, last 2 months of pay stubs, last 2 months of bank statements.
02/18/2009 11:27AM by Mike Sher - gave offer info to Jan for Capital to make me a HUD
02/18/2009 11:18AM by Mike Sher - offer terms 185,000, credit $4,700 for FHA, Dwp $4,300 April 20th, 100 repairs, $300, water escrow
02/18/2009 10:49AM by Mike Sher - called 888 xxx.xxxx. No one was able to talk at that time.
02/18/2009 10:47AM by Mike Sher -Here is a email that i Sent to the seller: Hope all is well. We hopefully will be getting an offer soon on your home. In the mean time I wanted to forward you a few comments that the buyer's agent gave me. Her buyer is buying FHA and she told me that in the basement under the porch there is a bucket and some towels that make it look like there is a leak. She recommends removing the bucket and towels. Also in the basement a vent near the furnace has been blocked off in a way that could be a fire hazard. Lastly she wanted to know if the basement water proofing has a transferable home warranty.
02/4/2009 10:40AM by Mike Sher - got a fax showing that I have auth with option one.
01/30/2009 12:54PM by Mike Sher - 2 month pay stubs and 2 month bank statements, most recent w2, sign pa, and estimated HUD 1, pre approval letter from buyer, Listing agreement, hardship letter, phone number to call for questions(888) xxx-xxxx Retention dept. spoke Ashish
01/30/2009 12:48PM by Mike Sher - they still do not have the auth!! all offers faxed to 866-497-1265 att: retention
01/30/2009 12:39PM by Mike Sher - bank phone hours 8:30-5:30 pacific
01/28/2009 02:11PM by Mike Sher - spoke to rep at the bank. They still do not have the auth. they told me to call Tuesday
01/28/2009 12:18PM by Katherine Green - Status on MLS - Active
01/25/2009 12:19PM by Mike Sher - spoke to a Customer rep. they did not get the authorization. I will fax it again now.
01/18/2009 04:14PM by Katherine Green - kg Called (800) xxx.xxxx Attn: Customer Resolution Dept: Loan # on Authorization, Fax: 949.xxx.xxxx. Fax over, allow 5 - 7 Days to process. Faxed over Auth Letter 1.18.08. Call Friday 1.25.08 & see if they've received it.
01/18/2009 04:06PM by Katherine Green - Option One Mortgage - Loan # xxxxxxxxxx
01/18/2009 04:02PM by Katherine Green - ss# xxx-xx-xxxx