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I cant sell this house anymore !

I have been selling this house for a year now. We listed this home on 10-21-13 and with in a week had an offer. The short sale process started and was moving along fine. The 1st mortgage agreed to the terms and offered the 2nd mortgage 6k to settle. This is where is starts to fall apart. The 2nd mortgage is USAA. There is a 100K plus balance on the loan. There was a rejection of shortsale by USAA and we ended up loosing the 1st buyer. 

2nd buyer made offer we accepted and pushed USAA again in negotiations for a release. USAA counters back in the 80k range and would not budge. We loose the 2nd buyer.

3rd buyer made offer we accepted. This time I sought out social media avenues to connected with USAA via Facebook and Twitter. I received a message via Facebook to contact USAA at a specific address and plea the case again. USAA reviewed the file and still countered in the 50K range. YES we have gotten them down little by little but we still cannot sell this home for that amount and the buyer has no money to pay. We loose buyer 3.

Im on a 4th buyer and still pushing for a release. We have moved commissions and fees around so much that we can pay the 1st of completely, and give USAA more yet we still get rejected. 

Can a 2nd force a Foreclosure !!!! Im so close to a brick wall I'm banging my head. We have not had any inspetions yet , the HOA fees are piling up and I know of a leak at the house. I'm pretty certain we are going to be facing repair issues even if we get USAA to agree to a number we can handle.

Has anyone successfully gotten USAA to take a promissory note ? I think this is going to be our only way to get an approval and release.

 


Alison Creamer, Realtor, ABR, CDPE
Direct 757.652.8880
Licensed to sell Real Estate in Virginia
Keller Williams Realty
Follow Me On Twitter

Sell Hampton Roads Homes

 

 

Comment balloon 8 commentsAlison Creamer • August 19 2014 03:57AM
I cant sell this house anymore
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I have been selling this house for a year now. We listed this home on 10-21-13 and with in a week had an offer. The short sale process started and was moving along fine. The 1st mortgage agreed to the terms and offered the 2nd mortgage 6k to settle… more