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Bank(s) Involved: Wells Fargo Short Sale Packet: Submitted 12/30/2009 Offers Received: 0 Appraisal:Completed Approved Price: $261,000.00 Comments: 12/30/2009 Called and confirmed that we have authorization to discuss the loan also told them the full workout packet was just faxed over. Confirmed the fax number. 1/5/2010 Home owner is calling bank to do required HUD counseling will make sure it has been done with follow up call to bank. 1/11/2010 Called bank the HUD counseling has not been completed. Calling home owner to remind him. 1/13/2010 HUD counseling has been completed BPO to be ordered. 1/19/2010 BPO is due back into the system by the 28th of Jan File assigned to Negotiator. 1/20/2010 Appraisal was ordered for 1/21/2010 at 10-1100 1/27/2010 Appraisal not in system yet should take 2 weeks or so following up next week. 2/2/2010 Appraisal has been completed and inputed into the system the bank is not requesting any additional information. Negotiator is reviewing for approval. Updated our contact information. 2/9/2010 Negotiator has not updated any new information they have approx 30 days to review deadline is 3/2/2010 I am still following up every week for any updates. 2/23/2010 Bank Approved price $261K 3/2/2010 Offer has been submitted to Wells Fargo and is currently under final review, called today and sent an email to the negotiator to see if she has any updates from the investor about approval.
3/9/2010 Called and left message for negotitator called the bank and they said after they looked into they file it is still under review I will call again to the negotiator
Water issues 1. Did the seller purchase the home from the builder or are they a second owner(may affect what the builder will and won’t do for the home). 2nd owner- Gold Medallion is the builder.
2. How long have they lived in the home? they bought it May 2008
3. When did the water problem start. Previous owner
4. How many times has the water come into the home. twice since they have owned it
5. When was the last time it happened July 09
6. How frequently does/has it happened twice
7. How sever is the water accumulation/timeframe Only a few inches, never above the holes drilled into the wall
8. Is the water flowing, or seeping - Seeping
9. How many other homes are they aware of with similar problems There are a few that they know of. Most have fixed the issues
10. What has been done so far to mitigate the problem- Replaced the drains and installed an electric sup pump
11. Has this fixed the problem or has it slowed the problem - Slowed, not fixed
12. Has any contractor determined how to correct the problem- Seal the foundation with and epoxy
13. Has any contractor estimated the cost to correct the problem - Yes, up to $10k
14. Has the builder done anything on this home to prevent/fix the problem. On other homes, yes. They don't know if the builders have done anything on this one
15. Has the builder done anything for any other homes they are aware of Yes
16. Was there any disclosure to the seller of high water tables. Not from the Seller
All other water issues subject to inspection.
4/28/2010 Offer failed sent over another offer to the bank for review.
5/4/2010 Talked to the negotiator she is reveiwing offer on Silent rain will let us know by the first of next week.
5/19/2010 All offer are now gone submit your's and be first in line.
9/7/2010 No foreclosure date set yet.
Disclaimer: This site is up to date with all information and is revised as progress is made. To schedule an appointment call 801-566-7800 Click the image for all details! 
Please Explain the following to your buyers: 1. The short sale addendum notes that the seller can cancel the contract and take another offer. 2. Our seller has the right to accept any offer whether its higher or lower than your client's offer just like any other normal sale. The seller makes this decision. 3. As a result, whats puts a buyer in the best position? Making a good offer and having an agent that stays in contact with us regarding their interest. This could be as simple as a weekly e-mail that states "let me know if we need to improve our offer to keep in the running." If someone ever wants a first right of refusal, a non refundable option money would be the most likely to entice them to do so depending on the bank/banks with the short sale. 4. Most of our banks don't require signatures on our offers. (Contrary to what people may think.) When we submit an offer to the bank it isn't contractual. When there is a bank that requires signatures upfront, we will mark that property as 'offer under review.' Otherwise, any offer a buyer submits will be reviewed by seller even if there is an offer into the bank and any buyer has an opportunity to purchase the property despite being 2nd to put the offer in.
Utah Dave Locations:
Salt Lake City Office
South Valley Office
St George Office DAVE ROBISON, Principal Broker, ABR, CDPE, CRB, CRS, e-PRO, GRI |
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