Orlando Real Estate

SunTrust Short Sale Update

July 14th, 2010 2:50 PM by David W. Welch

If you work on short sales, you know how frustrating it can be following up with the bank. Very often you receive conflicting or at least inconsistent information. Typically, the upate you receive is vague with respect to exactly where your particular transaction currently is in their process. The source of the frustration is that we, the real estate agent, are managing a process we do not control. It has at least been my experience that the people we are working with on the other end of the phone may not even know what their own process is. We certainly do not have any type of flowchart of the bank's internal processes, nor do we have direct lines of communication that provide feedback on where each transaction currently is in those processes.

I am writing this post to update you on a SunTrust short sale that was giving me fits a few weeks back. I had a devil of a time getting the short sale department to acknowledge receipt of the documents to open the short sale. Then I had a great deal of difficulty getting them to acknowledge they had authorization on file allowing me to work with them on behalf of my customers. The last time I wrote about this, I had just spoken with a customer service person on the 800 number that proceeded to tell me that everything I had already been told was incorrect. I pretty much asked her who I was supposed to believe. Either she was telling me the truth or every other person I spoke to was telling the truth and she was not. After politely and professionally letting her know that I had little faith in what she was telling me, I wrote about that experience in this blog. I do not know if it was my phone conversation or the blog post, but first thing the next day I heard from the set-up coordinator at SunTrust by phone and e-mail.

Ms Taylor is her name, and she has been truly wonderful to deal with. She has been very professional and personable with me on the telephone and by e-mail. We did run into a bit of a hiccup, but she was reasonable in her expectations and gave me the time I needed to provide her with updated information. I am very pleased to say that she has been timely in communicating with me and used excellent business judgment in helping me to keep this transaction moving forward. She just called me earlier today to let me know that she is moving the file on to the next step. She did ask for a better copy of a document, but she is not holding up the file. This particular transaction is really pretty straight forward to me, and should be an easy approval. Thank you Ms. Taylor for being a professional.

David Welch Real Estate Optimist, Orlando Real Estate

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Posted by David W. Welch on July 14th, 2010 2:50 PM

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