I KNOW THE BANKS CALL THE SHOTS BUT...

I will be the first to admit that I don't do a lot of foreclosures...in fact, I am in the middle of my first one. No, I am NOT going to answer any questions on how in the world I have accomplished this remarkable feat! Being a rookie at this, but not uninformed, there have been few surprises. The bank shortened up the removal of all contingencies to 10 days (and we all know how well the banks do at moving things along in a timely manner). We had to promise that there would be world peace...okay, maybe not, but it felt like it!

Anyway, we have been hustling to get everything done in the 10 days we were allotted. My clients signed the final counter from the bank on the 19th, so we have until Monday to remove our contingencies....you would think! I received a call from the listing agents assistant explaining the error in my math. You see, the BANK signed the counter offer THEY wrote on the 16th, so add 10 days...and yep...the contingencies were suppose to be removed today. Now, some sane person may ask if we were in contract on the 16th and the reasonable answer would be no, since my clients hadn't agreed to their counter yet. The assistant kindly explained to me that the date that my clients agreed to and signed the counter really didn't matter. Hmmm....

This being the case, the next time I receive an offer on a property I have listed, I am just going to assume that the buyers have agreed to it and go forth and prosper!