Elk Grove Short Sale Success – Wells Fargo Short Sale

Elk Grove Short Sale Success – Wells Fargo Short Sale

Here is my latest SOLD short sale in Elk Grove. This home on Hummingbird Way was a short sale with Wells Fargo.  It was a great buy at $100,000 and got multiple offers the first week.  The sellers accepted an offer and as the short sale agent, I submitted the short sale package to Wells Fargo right away.  About 3 weeks later, we received a short sale approval!  That’s a very quick approval in short sale time…Success!

Just before this Elk Grove short sale closed escrow, the buyer got cold feet and backed-out. I wish I could say I was surprised but as a top-producing real estate agent for the last 13 years, I wasn’t!  Buyers, especially in this market, are constantly questioning the market and the direction it’s going.  Buyers are also finding it hard to qualify for a loan so there are less buyers actually prepared to close escrow.

With the first buyer out, I marketed the property again and got a second, quality offer, in just 4 days. Again, I submitted the short sale to Wells Fargo and got an updated approval letter in about a week.  This time the buyers were committed and excited to score such a great deal.  They closed escrow in 2 weeks and this short sale escrow was a done deal!

Despite having to go through two different buyer, the total time from listing this Elk Grove short sale to closing was just 2 months. My short sale sellers are very relieved to have this behind them. Definitely short sale success!

See if you qualify to sell your Elk Grove home as a short sale.

Elk Grove Short Sale Success – Wells Fargo Short Sale

Posted by Elk Grove Short Sale Agent – Allan Sanchez – www.AllansHomes.com