This duplex investment property sold for $50k less then homeowner owed. She owed almost $70k, I was able to negotiate with Chase Bank and sell this short sale Chase mortgage for pennies on the dollar. Homeowner walked away owing nothing. Here is a copy of her approval letter included with this post.
Also, here is her testimonial she wrote me:
I lived in San Antonio for 11 years and lost my job of 20 years in December of 2009. Even though I had saved up a 6 month emergency fund and had unemployment, I could not afford to pay the mortgage on my rental property (a duplex that I had owned for 20 years ) in Indianapolis after the taxes went up raising my mortgage from $600 a month to over $900. I contacted a realtor in 2009 and put the house on the market. I re-signed with her (the realtor) two more times the house only had a few showings. I wanted do a Short Sale, she couldn’t get that going. Sometimes I’d go weeks and months before hearing from her. I became disenchanted with her services and took the duplex off the market in early 2011.
I listen to your radio program and have attended one of your classes here in San Antonio. Finally taking your advise, I completed the online form and within minutes I had responses from two Indianapolis ELP’s. I contacted the first one. He asked me what my needs were. He sounded enthusiastic and was ready to get started. I am still unemployed so I wanted to do a Short Sale. Immediately he emailed me the documents that needed to be signed. I arranged for him to get the keys from my son. He went to work right a way. He got the duplex inspected and did comparables within a couple a weeks. My property value had dropped from over $100,000 to appx. $25,000. Craig’s office is appx. 48 miles RT from my property. He continued to work hard to complete the short sale knowing his fee would be minimal. Craig stayed in contact with me throughout which lowered my anxiety of not being able to be there.
It turns out that it was more difficult working with the Chase bank than anticipated, the right hand didn’t know what the left hand was doing. I was initially denied the Short Sale, so the process had to be started all over again. Through all of this Craig continued to encourage me that he would continue to work with Chase to get this Short Sale completed. Finally after 3 months an offer came in for $15,000 but it fell through. Later that day a $20,000 offer came in. Craig got right on it, submitting the offer to the bank. Four months to the day (9/20/2011 – 1/20/2012) and many emails and correspondences later the Short Sale was completed. He worked as if he were representing a million dollar listing. Dave I am so grateful to you for offering this free service. I can honestly say that Craig Bartels has a heart for what he is doing and that he lived up to your expectations and to the training that he received from you and your organization.
Craig I will recommend you to family and friends. I can’t thank you enough for your diligence and hard work.
Craig, you have my permission to use my testimonial.
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