Wednesday, February 29, 2012

At least I'll only have to think about it once every four years

Late last week, we received approval from the bank to complete the short sale, after the buyer sent over the addendum extending the offer to 2/29. Unfortunately, that wasn't enough time for the realtors and title co. to get things processed, so I sit hear waiting on another addendum from the buyer for an extension of that date.

From the trail of emails, I can see that the buyer's realtor has consistently tried to convince the buyer that they have assisted in delaying this process and that they have some obligation in trying to see things through on the sale. The buyer's inability to provide required paperwork has caused as much grief as the bank's requirements for it. It's also left us completely handcuffed to any other options. I'm thankful to the buyer's realtor for having an understanding of what's truly been happening.

From my understanding the buyer's realtor is now trying to convince (beg) them to sign another extension, the bank had requested an extension to 3/15, of course the buyer chose 2/29. It's amazing to me how people create more work for themselves and like to blame everyone else for problems that they contribute too, in no instance have I seen as much of this as I have in the short sale process.

So I sit here waiting and refreshing my email, hoping the file comes over before 6pm eastern time, in order for us to sign, scan, and send back to our realtor, so he can send off to the bank. (who of course will close the file today if the extension isn't processed, they of course are not blameless either in this debacle).

It's interesting sitting here waiting with anticipation for the email. I'm feeling a range of emotions. Excitement, disappointment, and exhaustion are three that I can identify. I haven't sat with this level of anticipation of something in a long time, it reminds me of waiting for a call during my teen years from a girlfriend in a new relationship. (That reminder also likely explains the disappointment I'm feeling as well).

So within the next 90 minutes we shall see how things go, either we'll have an extension and we can close on the house, or we'll likely find out what the next steps are during foreclosure mediation.

Earlier in the week, when I thought the finish might be possible by the 29th, I was thankful for the extra day in February, it appears it doesn't matter now that we need an extension, however maybe an unusual day will result in an unusual outcome.

*Update*

Well it appears I've developed some wisdom over the years, instead of waiting patiently for an updated addendum that didn't come. I proceeded with my plans and took a trip to a restaurant about 30 minutes away to pick up some deep dish pizza, to bring home. It was delicious. I have no idea what the outcome is now, since we didn't get the extension in by the bank's deadline.

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