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You are here: Home / Danny Murphy and Associates / Success Stories: The Short Sale That Never Should Have Closed

Success Stories: The Short Sale That Never Should Have Closed

October 8, 2012

 short sale reversal, short sale success

 

It was a warm summer day in early August 2011, when The SoCalLife Team helped their client Mike find his perfect first home, a 2-bedroom condo in West Costa Mesa. Around this time, competition had already become stiff for properties in this price range, and there was no exception for this nice condo tract. Mike was excited about this property, so The SoCalLife Team did what they do for each and every one of their clients, and they went to work to get Mike’s offer accepted. Within days, Mike had an accepted offer, and he was on his way to owning his first place. Being that this was a short sale, the sale of the property was subject to the approval of the lien holders. While obtaining short sale approvals is definitely not a sure thing, with enough patience and skillful management of the process by the agents, they typically get approved and close.

Well… there was nothing “typical” about this short sale. In the span of 12 months, due to no fault of our Buyer, and factors out of the The SoCalLife Team’s control, the property went to foreclosure. Refusing to give up on their Client’s dream to own this condo, over the next 5 months the The SoCalLife Team effectively demanded authorization from the bank and Seller to work with the Trustee and Freddie Mac (the entities that foreclosed on the property) to try and rescind or reverse the foreclosure. After literally hundreds of phone calls to all parties involved, letters to attorneys, and many dozens of hours of work, the foreclosure was rescinded, something virtually unheard of in our industry! This meant our Buyer was now cleared to purchase the property. He was thrilled, especially since values had risen materially and his patience would now be rewarded with getting the home he wanted at an exceptional value!

While this experience is not “typical” and we don’t seek to duplicate it anytime soon, the moral of the story is that we NEVER give up trying to achieve exceptional results for our clients! Even when doing so requires extraordinary efforts and persistence.

Congratulations on your new home Mike, and thanks for having the trust and confidence in us to get the job done.

The SoCalLife Team Short Sale Success Story

The SoCalLife Team is from Orange County, California. Jade and Danny provide 5-star customer service for each and every one of their clients and would love to help you buy or sell your home. Contact them today!

Filed Under: Danny Murphy and Associates, Living in Southern California

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Danny Murphy & Associates

With more than 15 years of Southern California Real Estate experience, Danny is an expert in his field.

Looking to sell your home? Call Danny today to see how our industry leading marketing and exceptional negotiating skills can help you get more for your more.
(949) 413-6967
Danny@TheSoCalLife.com

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Basement homes don't come up too often here in OC, Basement homes don't come up too often here in OC, but we can find them when they do!

If you're looking for a home with an extra living space, DM us and we'll start the search!

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SOLD!! 219 Chaumont Circle, Foothill Ranch #orang SOLD!!
219 Chaumont Circle, Foothill Ranch

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The real estate biz never stops, not during vacati The real estate biz never stops, not during vacation and definitely not on weekends and evenings. Check out this funny video depicting a Day in the Life of Danny Murphy

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Jazz anyone?!?!? Jazz anyone?!?!?
Buying and selling real estate is a big deal. It's Buying and selling real estate is a big deal. It's a big commitment. Watch Danny's video to learn more about the buying process and why 98% of buyers have a buyer's agent! There is usually large sums of money involved in the process. Sometimes it can be quite emotional, stressful and confusing. There are lots of contracts, forms and addenda to complete or/or review. Many decisions to be made about what to buy and where. Am I paying a reasonable price, and getting reasonable terms besides just the price. How do I make a strong and competitive offer without overpaying? How is my earnest money deposit protected? Maybe you have unique financing needs or just want a second opinion from a reputable lender? What inspections should we do and why? Based upon inspection results, do we ask for repairs or a credit, maybe a price reduction or a combination of some or all? What if during escrow there is an issue with title, or you are having a hard time obtaining homeowner's insurance (as that is a BIG challenge these days), who do you go to? Now it's finally time to move! Maybe you need a good moving company, or you want to do some repairs and improvements after you move in. Who has a good roofer, electrician, plumber, general contractor, painter, flooring and window person, etc? You get the point.....there are a LOT of things to consider, account for and do when buying a home and that is where an experienced and highly skilled real estate agent comes in and helps you through the process. Please reach out to us anytime for all of your real estate questions and needs. We're here to help!

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Is your little one's artwork taking over the fridg Is your little one's artwork taking over the fridge (and everywhere else!)? Maybe it's time to find a home that grows with your family! 

Southern California has amazing options for families who need room to spread out. I can help you find your dream home in a family-friendly neighborhood!

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Perhaps you have heard, but if you haven't, there Perhaps you have heard, but if you haven't, there have been some big changes in how real estate agents MUST conduct their business with all clients and potential clients. Watch Danny's video to learn about the mandatory forms that consumers will be asked to sign before seeing properties for sale or making offers. Please reach out to us anytime for all of your real estate questions and needs. We're here to help! 

#realestatetips #realestate #realestateagent #realtor #realestatelife #realestateadvice #realestateinvesting #realestategoals #realestateexpert #realtorlife #realestateinvestor #realestateexperts #realestatenews #realestatemarket #househunting #homebuying #realestateforsale #realestateagents #homeownership #realestatebroker #realestatemarketing #realestatesales #realestateagency #firsttimehomebuyer #realestateinvestment #realtorsofinstagram #realestateprofessional #realestateblog
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