HGTV has decided on it's 2011 Dream home and it will be at Spruce Peaks at the Stowe Mountain Resort. It will be the first home they've selected in Vermont. The Stowe home is a custom built home nestled in the trees with a direct view of Mount Mansfield.
Blog :: 06-2010
The day arrived when the phone rang and I heard those magically words, "Hello, this is your closer." Ah, it was like blue birds burst into song, the sun shone out from behind the computer and all was right with the world. I could see the sale happening in a month, perhaps a couple of weeks. This was not so bad, it was easier than I expected. And then... more demands, more documents, countless HUD statements. As if that was not enough, weeks go by and another phone call stating that the government has just come out with a new form that must be filled out by the owner of the property, a form that did not exist two weeks prior.
What totally mystifies me is that each time I have asked these handlers and closers if they have every bit of information they need, they say yes and I should hear in 48 to 72 hours. I hear nothing. Then when I call back to find out why I haven't heard, they want another document, or they want it revised. It is frustration beyond words. Just as you think you have the brass ring, it slips away and you have to wait until you go around again.
What I have learned is to treat my handlers and closers with the utmost respect, warmth, humor and cooperation. I only once lost my temper, at the request for a new form that had to be filled out. The number one rule in working out a short sale with the bank is: DO NOT GET PISSED OFF AT YOUR HANDLERS. I apologized.
I have scanned, faxed and re-scanned and re-faxed the same documents over and over, still they insist that they do not have them. Where they are (perhaps a nice shredded bed for some rabbit)? So here I am stuck in the middle of the tunnel waiting to come out in the daylight. Will I succeed in getting the second mortgage holder to accept the offer made by the first mortgage holder? Will the first mortgage holder sell at the price they have told me? Stay tuned.
My advice... this is not a money maker for a real estate agent when you consider the time and frustration. Why am I doing it? It fascinates me. It is a puzzle to solve, it appeals to my creative side, and it makes real estate interesting.
After several days I succeeded in getting to the right department. I was given a "list" of all required documents. Once those were gathered together I was told to expect to be assigned a "handler." In the meantime, if you call in to check on the status of your offer and you have not received a "handler," you have to go through a whole explanation of who you are, and why you are calling. The only fortunate thing is that they make notes on the computer about all conversations with you. The unfortunate side is you must wait until they read all the notes and ask you some of the same questions you have answered before. Then it is your moment to ask: "What is happening?"
In most cases there is yet another form that they are looking for. It does not seem to matter that you were diligent sending the owners financial information, the purchase and sales agreement, the listing agreement, the buyer's mortgage qualification; they will want some other document. If you succeed in accomplishing all their demands you are rewarded with a "handler." You will dance around, sing hallelujah and feel like you hit pay dirt on Match.com.
My "handler" and I began a relationship that lasted over two months. Alas, I have to admit I was a two-time unfaithful mate. Behind my handler's back, I had another handler from the second mortgage company. I actually preferred him, as he was upbeat and friendly, but the first one was funny. Everyday was exciting to me as I waited with baited breath to hear from them. Although, I would immediately respond to their demands, there would always be another one the next day or week. My true quest was to get to the "closer.' This was like dating the ugly step sisters to finally have an audience with Cinderella.