Philadelphia Short Sales - A Sweet Victory
We recently had a successful Philadelphia short sale for a Center City Condo in the Victory Building at 10th and Chestnut. This 
was a very sweet "Victory" as we had to negotiate with Bank of America through five separate buyers to finally make it to a settlement table. To be honest, we almost gave up on this one as the lender for whatever reason was just not being reasonable with what they were willing to accept and there was not much more we could do and with the mountains of hours we had into it already, we were also getting very frustrated. However, we still represented our clients who were so extremely nice and cooperative every step of the way. They urged us to try one more time with the short sale which we did and sure enough, we did it!
As many of you know out there, Bank of America has a reputation of being one of the more difficult lenders to work with to get a Philadelphia short sale approved. You must be extremely equipped with the Equator process, the short sale process, have patience of a Saint and communication skills of a super hero in order to improve the chances of short sale success. Not to mention knowledge of the real estate market inside and out for issues with valuation of a BPO like we did on this one in regards to recent sales in the Victory Building.
We thank the buyer and the buyers agent for being patient. A successful Philadelphia short sale is a "win-win" for all the parties.
And for you potential Philadelphia short sale sellers out there, make sure you contact the right listing agent to handle the short sale to navigate through the process and get you to the settlement table. Expertise and experience is a must. If you are in Philadelphia, feel free to contact us or email thesomersteam@gmail.com to inquire further.
Other Philadelphia Short Sale Articles:
Philadelphia Short Sales - Another Successful Short Sale at Waterfront Square
Philadelphia Short Sales - Another Succesful Short Sale in Point Breeze
Philadelphia Short Sales and Short Sale Success - The Somers Team
Short Sale Specialists in Philadelphia
Short Sale Specialists in Philadelphia - Plan and Prepare for Success
Philadelphia Short Sale Terminator Rises Again!
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Good for you..once you get the navigation of the equator system and what to do when it tries to steer you "off course" it really isn't as bad as it may have seemed...or maybe we are just getting used to it...good job !
GOOD MORNING CHRISTOPHER & STEPHANIE! So you are in the top 20% of short sales that actually close with BA! Nice work!
Sally and David - Congrats on getting used to it! It can be a nightmare when you send over the same document several times. It seems Bank of America is "getting better" but still seems to be a case by case basis.
Gabrielle - It is a sigh of relief! Patience and perseverance!
Congrats on the Victory Keep on selliing
Thank you Joe! One at a time : )
Way to hang in there! I know the sellers are appreciative of the efforts when we do, and such gratification!
Jennifer - We did the short sale "victory" dance for 2 days on this one!
Hello Christopher and Stephanie...Congratulations on another successful Short Sale!! Persistence pays!!
Sergio - So true! Woo hoo! Is so exciting to get to the settlement table on these deals.
Christopher and Stephanie, I'm finding that Bank of America is trying harder to work the short sales instead of foreclosing. Congratulations on a hard job well done.