This was a long short sale process that almost didn’t make it through. I had the listing and worked with another agent in my office who managed the whole short sale approval side of things.
We listed it in January and had it in contract in February. At some point just before we had short sale approval, the bank that owned the loan on the property sold that loan to another bank. We had to start the approval process over!
Right after we got the short sale approved, the buyer decided that he wanted to back out of the purchase. Fortunately, his agent had another, all cash buyer that was willing to step in. It was a very rare case where the lender allowed us to swap out the buyer without having to go back through the whole short sale process.
We just closed last week and my clients are so happy to have this chapter in their life behind them.