I’ve written a few blog posts about Citi short sales in the past. One, Citi Rep Says Market Didn’t Cause Price Decline and another Is Citi Mortgage Getting Nice? Well, I’ve just had a situation regarding a Santa Rosa Beach FL short sale that I must relay.
First Mortgage: Everhome
Second Mortgage: Citi Mortgage
First Offer: Buyer walked after three months
Second Offer: Buyer gets relocated to another state last week!
Status: Citi had approved the second offer to close within 30 days and Everhome issued approval DAY OF buyer’s withdrawal
Update: Wendy gets replacement contract from new buyer, exact terms, within 3 days
Everhome: Delighted! Seeking investor approval for new buyer
Citi: New Rep, “Sassia”, was assigned to replace previous negotiator
Wendy: Leaves upbeat message on Sassia’s voicemail: “Hello, this is Wendy Rulnick, authorized on account 7878722, borrower- Smith. Buyer had out-of-state job offer last week, withdrew. I have an identical substitute offer, no changes in terms, ready to close within 30 days. I’ll fax you the replacement contract and HUD.”
Sassia: Calls and leaves a message on Wendy’s voicemail: “Please call me reference borrower Smith.”
Wendy: Calls Sassia back. Gets voicemail. Leaves identical detailed message regarding substitute offer. Finally Sassia calls back and gets Wendy live.
Sassia: “What is going on with Smith?”
Wendy: Relays exact detailed message that was left twice on her voicemail.
Sassia: “This has been going on a long time, since July. Two buyers have walked. Why?”
Wendy: Repeats exact information about job relocation of buyer.
Sassia: “Don’t bother faxing me anything! I don’t know what the previous negotiator did, I do things differently. I will need approval in writing from the first within 48 hours or I will CLOSE THE FILE.”
Wendy: “I am sure the first is imminently getting a replacement approval. It might take a few more days.”
Sassia: “I will give you until Friday. I have too many files on my desk. If I don’t have the approval by then, you will have to start the process all over. Good-bye.”