Wells Fargo Short Sale…Moving Quickly?

August 19th, 2010

SAN FRANCISCO - JANUARY 20: A Wells Fargo cus...

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I just got off the phone with Wells Fargo and I must say that I’m kind of surprised at the quick pace of this short-sale.? I submitted the package in full just one week ago.? So, I called in today to confirm their receipt of my authorization-to-release information letter…and these tricks said, “we don’t have one on file”.? So, I was like…here we go.? I told them I sent it in twice (to the dedicated fax number for authorization-to-release info docs).? The call-center guy goes on to say, “I see the one you sent, but the print is to light…you need to submit it again and make sure it’s darker…I can give you the number to the short-sale department, but you’ll need to re-fax and check back after 48 hours.

Then I remembered that I also included the authorization letter in my short-sale packet fax.? So, I call up the short-sale department and they received it just fine.? I was like…I’ll be damned.? I’m going to start doing that from now on.? Just send it to both departments.? So, I’m speaking with the call-center gal in the short-sale department and she tells me that they received the SS package and that at this time they don’t need anything else from me.? “WOW” I thought to myself.? She then went on to tell me that the BPO should be ordered within the next 7 days.? “WOW” again.? Maybe the third time is a charm…we’ll see.? Or maybe the first two Short-sale’s would’ve moved just as fast had I submitted (more than) everything they required from the first Fax.? That’s probably the real answer.? A BPO in two weeks versus a BPO in like eight weeks last time is lighting fast.? I now need to rush to find a BPO agent…and I still need to find a Home-Tender for the place.? Has anyone ever used a Home-Tender?? Or been one themselves.? A Home-Tender being someone to occupy the house during the Short-Sale.? Gives it a better lived-in look for showings and reduces vandalism and such.? There wouldn’t be a lease involved, but you can also charge a Home-Tender for their stay and make a few bucks on the side.

On a different note, the lady who’s houses I got under (option) contract for $500…has been harassing me as of two days ago.? She left me a few voicemails saying “I’m unprofessional”…”she’s starting to get pissed off”…etcetera etcetera.? She’s mad because I haven’t been calling her every few days to give her a progress report or something.? The option was for 60 days and this is only like the 45th day.? I mean I could’ve communicated with her more, but I wasn’t obligated to.? Besides, I found that you can’t GIVE those houses away.

1) They’re in the hood
2) They need way too much work
3) They’re tax delinquent
4) The taxes in that neighborhood are sky high

So, of course I didn’t know all of these facts before I put the option on them.? But isn’t that what options are for?? Plus, Lawrence (my mentor) told me to get them listed.? Trying to find an agent that worked that area was ridiculously difficult.? Then when I did find one, all of the back taxes, plus the (reduced) commission, plus the house, etc. was too much for anyone to want to buy.? So long story-short…I mailed the lady her keys back yesterday.? And I sent a nice little letter explaining to her why I was doing so.? It was very professional letter.? But really….my feelings were…”good luck getting rid of those pieces of shit…your best bet is to let them go to tax sale.”? Besides, I don’t have time for disgruntled people.? Those folks get cut out of my life real quick.

I’m going to head to Champaign in the next few days and I’m going to do something that I’ve hesitated to do for a long time.? And it’s something that most people are scared to do as well.? But, I hear it is HIGHLY effective.? Don’t worry, I’ll let you know how it goes…and I’ll have video too.

Peace Out

P.S.
Operation “Train for Chicago Monster“, isn’t going so well.? I’ve been running, but I haven’t been eating right.? I need to get on that.? I’m also supposed to be strength training…haven’t done any of that.? But, I’ma get on it.? I’m also going to get some ab straps.? I highly suggest these things if you’re trying to work your core.? Hurts like a bitch, but? I used these religiously at the gym last winter…and I was something like an action-figure… not so much the case anymore.? I’ll get it back…