SOLD – 4560 Woods Edge Drive, Zionsville

4560 Woods Edge DrThe sellers of 4560 Woods Edge were at their wit’s end. Times had
been tough, and their house had to be sold. When they called Jennifer,
they said “We want to be a ‘story of sold.’  You might be our last
hope.”  With just a few delicate questions, Jennifer knew what she had
to do. She called their bank, got permission to sell it at market
value, and commenced the marketing. Three offers were received within
a week. They picked the winner, and marched toward a closing. It
wasn’t an easy sale for a myriad of reasons, but it got closed in
short order. The house is under rehab right now, and the former owners
get to start over without that burden on their shoulders. Whether
you’re looking for an exciting new beginning or at the end of your
rope, Jennifer will craft the perfect ending to your own story of
sold.

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SOLD!! 7611 Moultrie Court, Indianapolis

7611 Moultrie CourtDon told his friend Rick to call Jennifer when he learned Rick was in the market.  (Friends give the best advice sometimes!)  Rick wanted a property he could apply vision and effort toward to make his home. And he wanted to keep his budget low.  Distressed properties are plentiful today, but the delicate balance of price vs condition (to use as collateral on a loan) is a tight-rope walk. Fortunately, Jennifer knew where to point him for financing,
whether he bought a yet-uninhabitable property or something that just needed a
little freshening up.  He ended up buying a house that would be considered
somewhere in the middle, and he got the sweetest deal on both the house and the
loan terms.  The National Bank of Indianapolis has a loan for buyers that is
just amazing.  (Call Jennifer for more details on that!)  Jennifer
talked to Rick the other day and it sounds like he’s tearing into that place
without a moment wasted and having a ball doing it.  It’s going to be
fabulous when it’s done, and he’s promised to invite her to the unveiling in
the spring.

SOLD!! 11064 Schoolhouse Road, Fishers

SchoolhouseWendi’d had a run of bad luck and needed to relocate for work.  What could she do with the house in Fishers?  The neighborhood had been hit hard during the
recession, and there was no way to sell it high enough to pay off two mortgages.
One brisk October morning, Jennifer laid out Wendi’s options:  1)
find the cash to pay off the mortgage balance, 2) let it go to foreclosure, or
3) compromise and apply for a short sale with both mortgage lenders.
Jennifer knew it wouldn’t be easy when she chose the latter, but they
dove into it. By January, the ladies were looking at three offers.
The highest was chosen and the ride began. The first lender
approved the offer in short order, but the second was not as cooperative.
Jennifer sparred with that lender while the buyers hung in there for
EIGHT months! The bank’s delay tactics frustrated everyone to the point
that the buyers chose to move on in August. So, Jennifer put it back on the
market – still fighting with the second lender – and found a couple more
offers!  The highest was submitted in September.  BOTH loans now had
to be re-approved because the first approval had expired.  It was
maddening!  At times, there was a desire by all to just give up. but
patience prevailed, the approvals moved more quickly in the second round, and
they closed in late October – 366 days after the process began.  Jennifer
was reminded that persistence pays off, even after patience runs out, and that
there is a solution to hardship.  It’s not always easy, but it’s always
the lesser of three evils.

JUST SOLD! 9044 Dewberry Court, Indianapolis

9044 DewberryDarryl and Becky were on the house hunt when they called Jennifer about one of her listings in Pike Township.  She met them there, they hit it off, though that particular house wasn’t quite the right fit.  For a little over a year, the three viewed properties from time to time that just didn’t end up fitting their needs.  Nothing really rang their bells in all that time, until they walked into 9044 Dewberry and knew it was “THE ONE.”  A little vision for fresh paint and some swift negotiations is all it took for Darryl and Becky to secure their dream home.  The inspections went smoothly, the appraisal sailed through, and the lender Jennifer had connected them with was ready a week early.  It was a dream transaction for all parties involved!  Today, the new paint is really improving the feel of that home, Darryl and Becky are moving in and spreading out in a nice, big home in the perfect location.  Twas the Friday before Christmas when they closed, and all three knew their chance encounter was a gift that would made the New Year sparkle!

SOLD! 1544 Cherrywood Ct, Westfield

1544 Cherrywood CtDanyelle & Brian were getting married in October!  They’d been working hard to get their credit established and hoped that their time had come to buy their first home, but they didn’t know where to start until their lender referred them to Jennifer.  What a great idea that was!  Jennifer came up with a list of 10 really good possibilities within their budget, in an area close to their jobs and scheduled a morning out with them.  The last one they saw was THE one, and the negotiations commenced almost immediately.  A very good deal was struck that enabled Dany and Brian to buy a home with as little cash out of pocket as possible, and the couple got to close on the purchase of their first home just a few days before they flew out to Las Vegas for the big day.  When they got back to Indiana, wedding gifts were piled in the family room, waiting to be opened and enjoyed.  Jennifer loves the hunt with all her clients, but that joy is compounded when her clients trust her to help them start their life together on the right foot.

FINALLY SOLD – 123 Anywhere Street, Indianapolis

For the purpose of protecting the privacy of the parties involved in this transaction, Jennifer will not disclose the address of this property, and the names of the characters involved have been changed. The story behind “123 Anywhere St” has to be told, because it is not merely a story, but a novel– a series of sales, in fact, that FINALLY found a conclusion with a closing in late August that Jennifer, honestly, thought would never come. This closing was a testament to Jennifer’s stubborn persistence in getting a property sold NO MATTER WHAT happens along the way, and this story will never fit on a postcard!  

Jennifer listed this property in April 2009.  It was beautiful at that time; professionally decorated, priced well, and she was confident that it would be sold in a matter of weeks at the list price of $425,000.  Very shortly after it was listed, both Mr and Mrs Seller lost their jobs unexpectedly.  The spring of ’09 was the height of the recession and probably the peak of unemployment in our market.  Job loss is hard on families, and it was not long before they filed for divorce.  He moved to California, she tried to maintain the house, but inevitably, a short sale application with two lenders commenced, and the troubles began.  The first offer received that summer was at $349,000.  Bank of America (BOA) was not shorted, and Wells Fargo (WF) was offered 60% of the outstanding balance on the 2nd, which they declined to accept.  The two banks’ fighting caused that sale to fall apart.  Some months later, a second offer was received for less money, which now shorted BOA, and WF was offered about $6,000 as a settlement (because first mortgages are always in control in a short sale situation), which was declined.  Three months were wasted with WF fighting for more money, so buyer #2 grew impatient and moved on to an easier purchase.  

Buyer #3 was happy to fund a larger settlement to WF in their purchase terms, but BOA wouldn’t allow it.  Any money over and above the $6000 belonged to BOA, and something like that just can’t be hidden in a purchase loan these days, so that sale in the $280,000s fell apart, too.  Meanwhile, the house was vacated, and it began to deteriorate from neglect.  The pool cover collapsed, the roof started leaking, the cedar siding began to rot out, the furnace failed and vandals partied in the house.  To complicate matters, at some point, WF sold the bad second mortgage to a loan shark, who now demanded $13,150 as his settlement to release the lien.  What?  

Enter buyer #4 – a cash buyer who was willing to pay the higher settlement to the second lien holder, in exchange for a lower purchase price to BOA.  No loan was involved, so that could be finagled.  After a few months, BOA approved the terms of the sale in the mid $200s, and a closing was set for September, 2011.  It was almost over, Jennifer thought.  WRONG.  Buyer #4 flaked out and never showed up to closing!  Really?  Yes!  Good grief.  Enter buyer #5 in January, 2012.  Purchase price was to be $210,000.  With the second lien resolved, Jennifer got to start over with BOA for a new approval, which she got, a couple months later and they were, once again, ready to set a closing date for mid June, as soon as the buyer’s lender was ready to close the loan.  Fifth times a charm?  NO!  That deal failed in the appraisal because it was rejected as collateral due to the condition of the house at that point. Now Jennifer needed another cash buyer to close quickly.  At a couple points along the way, she nearly gave up.  But after a mental rest between fall-throughs, she’d muster the energy to go again.  

By the time buyer #6 came along in early July, it was a matter of sheer stubbornness that made her resubmit that offer to BOA and go through it all over again.  This time it worked, and the deal was closed on August 29th.  The closing was actually comical for a variety of reasons.  It lasted over two hours.  One of the parties came to the table with alcohol on the breath.  The other was a first-class piece of work.  But nobody was leaving that table until that deal was done.  Period.  

In the end, Mr Seller sent Jennifer a purple feather boa as a thank you gift.  At first, the irony was lost on her, though she is well-known for her love of purple, but a few hours with it in hand, Jennifer realized the boa stood for BANK OF AMERICA. It was an award for taking on BOA and winning! HA! That is a gift she will always treasure, and heavenknows she has a story in this one for all-time’s sake.  The lesson here is never give up, and enter into short sales with multiple liens very, very carefully! 

JUST SOLD – 8064 Windham Lake Way, Indianapolis

So many details had to fall into place for Jennifer to get this one to closing.  It was a foreclosure, so the bank would not accept her clients’ offer with a contingency on the sale of her homestead.  Yikes.  Gambling would be required, because this was the BEST deal on the west side for her client, and it simply had to be secured.  They decided to remove the contingency and resubmit the offer, holding their breath that the pending sale of her existing house would be settled.  The new offer was accepted, and while she worked through her inspections and appraisal, Jennifer babysat the details of her sale to make sure it closed first.  What a challenge!  But that is a story for another time.  It was finished, her client got her condo, and all is well.  What’s next, Jennifer wonders?