No More NACA for Me

I will be the first to admit that trying to be nice does not always work out, no matter how hard we try. This would prove true, once more, with yet another offer from near the pit of H-E-double hockey sticks. Not the actual pit, but very close…I would say they are definitely neighbors.

After much hesitation, I decided to accept a NACA offer on a short sale (I now know, already a bad decision).

Turns out the agent on this offer was the same agent, just one short month prior, who had made an offer on another listing of mine. Upon receiving the offer, I see that the offer was a NACA offer and the offer was missing a 4-page seller document addendum that we ask the buyer to review and sign on all our short sales to protect our sellers and assist the buyer with understanding the process. When I asked her about the document (two times), I got no response.

Fast forward to the current listing. So I already have these somewhat sour feelings toward this agent because of her lack of responsiveness and follow up. But I figure I’m being too hard, let it go Keisha, let it go… I tell myself. However, upon closer review of the new offer, it too is a NACA offer and, you guessed it, it was missing the same 4-page addendum.

So I call the agent and ask her about the addendum and while I was at it, asked her about the previous offer. She basically said her buyer’s went with another property, so she just didn’t respond. Then I ask her about the NACA program, which also states I must use THEIR title company – which is in Fairfield, and not my trusted title teams that always come through for me (Chicago Title and North American Title). I know that there are excellent title and escrow officers out there, but dag nab it, I like my escrow officers because they know me, I know them, and we have developed an unspoken relationship, like a marriage… you know what I mean? That’s like the NFL commiss telling the Green Bay Packers they get to go to the Superbowl, but they gotta use the Kansas City Chiefs quarterback! He’s a great quarterback but he’s not THEIR quarterback!

So, I express this concern to the agent. She follows up with me several days later to assure me that it would not be an issue and I could use my same company..hooray!! <so I thought>

We move forward and the “snags” begin. Why, oh why did I not follow my first mind in an attempt to be nice? I so regret it. I hope something positive comes out of this.  We received the approval letter on June 14, we were scheduled to close tomorrow (35 day escrow). My seller signed almost two weeks ago (prior to going on vacation) because the buyer’s agent said the buyer wanted to close early. Docs were to arrive at title yesterday but the GFI had to be re-submitted and processing was gone for the day so, yes, another hold up. As I am writing this post I just received a request asking for a seven day extension (42 day escrow) because now there is a “condition on the appraisal”… docs still are not at title.

Oh wait, another email from the NACA rep “My Apologies- I was with a member- We need to ensure time to get the clear, however, we already have authorization to rush docs. I said 7 days on the extension to ensure we have enough time as tomorrow is Friday and if for some unforeseen reason we do not get the close tomorrow we would be right back in the same situation.”

What? “…if for some unforeseen reason we do not get the close tomorrow…” Ok, let’s do a little math here. it’s 5:51 p.m. Thursday. Buyer hasn’t signed. Takes 24 hours to fund once buyer signs. Does a situation still qualify as unforseen when you can see it? What are the chances that this file will close tomorrow? What should be my response to this? How would you respond? Am I blowing this out of proportion?


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