Salt Lake Short Sale Finally Closes-In Daybreak !
One of our clients for a Salt Lake City Short Sale finally closed-In Daybreak. That's in South Jordan UT, for those that don't know their Salt Lake City geography.
It wasn't in time for Christmas, and these great clients didn't get to ring in the new year in their New Home, but it was real close.
In fact there were a lot things that were real close.
These Salt Lake home buyers were real close to walking away more than once.
The
First Time Home Buyer Tax Credit was real close to expiring; costing these home buyers thousands of dollars on a future home purchase.
If the Tax Credit had not been extended when it was, these Salt Lake Home Buyers would have lost $8,000. Notification came just days before the date they had decided they would withdraw their offer on the Daybreak Home for sale in Salt Lake. The Bank that held the Mortgage on the home came real close to going through with a foreclosure sale even though they had a buyer they were negotiating with. ( can you say Bank of America ? ). With no warning and no advance notice to our buyers the home was posted for foreclosure sale, leading the buyers to think that someone wasn't telling them the truth and believing that the home would be sold at auction in spite of them waiting on the Bank for 4 months.
The listing agent came real close to cancelling the listing on the home so that she could get on with her life and her business. The Realtor had the home listed as a short sale for over a year and had submitted a number of offers. The agent was working with her 7th diferrent Short Sale representative from the Bank and the Utah Home Owner had already moved out of state.
This couple came real close to settling for a house they didn't really like rather than wait one more day for a home they love in an area they wanted to live in, and a neighborhood that was just right for them.
Prior to selecting this particular South Jordan Home to buy in Daybreak we had looked at over 50 homes listed for sale in the Salt Lake MLS. Once an offer was made on this Daybreak 3 bedroom Rambler we encouraged the client to continue to search for Foreclosed homes in Salt Lake in case the offer for the Daybreak home fell through. We looked at another 30 homes for sale in Salt Lake in foreclosure and came very close to making offers on a new home for sale in Herriman Utah that was not as nice nor as good a deal, but could close immediatly. An undisclosed HOA assesment came real close to messing up the closing @ the settlement table.
Just prior to closing, the Home Owners association in the Planned unit development that is Daybreak recorded a lien for back HOA dues owed by the home owner, that the bank would NOT pay, that the owner had no money to pay, since they were getting nothing and no longer cared if the bank foreclosed or not. The HOA would not forgive the debt, and frankly as a member of a Condominium association in West Jordan UT, I don't blame them. (can you say "closing gift"?)
But the story has a happy ending. The BUYER IS HAPPY, the Seller is happy, the Bank is happy, the HOA is happy, the Lender is happy and the Listing agent is happy. And we're REALLY HAPPY.
This home buyer got a tremendous house in Daybreak, at a very good price, with real incentives to move quickly. It just took nerves of steel.
Foreclosures and pre-foreclosed houses (short sales) and Condos in Salt Lake are still for sale, Salt Lake Home prices are still lower than they have been in years, and incentives to buy that Utah home have been expanded to include $6,500 for repeat home/condo buyers.
To learn more about the way to buy a new home in Salt Lake City, stop by Salt Lake Real Estate, you will find tips on buying and selling houses in Utah, home mortgage rates,and Homes for Sale in other parts of Salt Lake County.
Or you can just call us @ 801-567-0946. We love to talk Utah Real Estate or how that Salt Lake Short Sale finally closes-in Daybreak.