Everyone will agree that short sale approval letters are really hard to come by. Most everyone who reads this will also agree that they take far too long to obtain, and obtaining them frequently can be worse than pulling teeth.
In my office we probably receive an average of two lien holder approval letters per day. We process hundreds of short sales, so something is always coming in. And, every time, without fail, we do the happy dance upon receipt. And then . . . we begin to read . . . and something inevitably happens:
- The buyer’s name is not correct or it is misspelled.
- The seller’s name is incorrect or misspelled.
- The letter is dated for 2008.
- The date that the deal must close is tomorrow.
and so on . . . and so on . . . and so on.
I know that this probably happens because the agent at the bank opens up an old Microsoft Word document and just cuts and pastes in the new information. S/he never rereads the letter or checks it against the file.
While I certainly understand that the banks are totally overwhelmed by the files and it is probably no small task to find enough staff to manage all of the files in a competent manner, is it too much to ask for a quick proofread prior to putting something into the fax machine?
On that note, I think I am going to proofread this blog right now. Have a good evening!
Short Sale Expeditor
{ 1 trackback }