Margie Burgard, Pope Francis and Elizabeth Weintraub at Basilica Block Party

Another Sacramento Realtor might show you a photograph of the home in Elk Grove that just closed escrow, but I’m not just any ol’ Sacramento Realtor, as you know. Plus, when you have a photo of you standing next to, oh, let’s just say, the Pope, for example, well, you’ve got to share it, right? My sister Margie is on the left, and that woman with the crazy yellow hair — the result of a horrible bleach job at a salon on Riverside in Land Park, a hair salon, the name of which I shall not disclose but I won’t step foot in that salon ever again — that woman with the horrid hair, is your Sacramento Realtor. Plus, it’s a better photo than homes in Elk Grove with dead lawns.

We look pretty snazzy with Pope Francis, I have to admit. My sister just sent me that picture because I realized we had it shot last July when my husband and I were in Minneapolis for the Basilica Block Party. It’s not really the Pope, you know. It’s a cardboard cut-out. We could not get into see the Pope while at the Vatican, you have to reserve a Papal Audience months in advance. But this is second best thing, so we’ll settle for it.

Unfortunately, my sellers of the home in Elk Grove that just closed escrow had settled on an agent to sell that home before they were referred to me. If they had come to me first, they probably would not have been subjected to an almost year-long drama that went nowhere. The sellers had initially listed the home in March of 2014 with an agent who claimed to be a Sacramento short sale expert. At that time, they were current on the first mortgage and there was enough equity to pay off the first mortgage without including the first mortgage in the short sale.

For some reason, according to the sellers, the so-called “short sale expert” had reduced the price of the home to such a low point that it was not approved at that price. The sellers also claim that the “short sale expert” had not sent them the approval letter from the second lender but instead kept the letter from them for almost 6 months. Professionally, I have no idea how something like that could happen because it makes no sense and, if true, is against the law. But I checked the listing, and it was indeed listed about $50,000 below the approved price, and it was listed as pending expired, which was against MLS regulations.

I explained I could not do anything nor advise until the sellers and their short sale expert had parted ways. The sellers tried to cancel the listing, and the agent steadfastly refused. He felt that he’d put too much work into it, according to the sellers. Yet, if the allegations are true, he held on to the approval letter for a much higher price and did not share the letter with the sellers nor did he change the price and terms in MLS. The sellers said they had to threaten the agent and his brokerage to obtain the cancellation. They were furious. I would be, too. After the listing canceled, the old history listing contained fairly snotty comments about the condition of the property, stating it had all sorts of problems, that conventional financing was difficult and only cash would work. That’s like sabotaging the sellers in my book. What is wrong with some agents? Don’t answer that.

In any case, I wasn’t a party to any of that squabble, and we listed the home at a reasonable price we felt the bank would accept. Because of that previous listing, and given the fact the home did need a bit of pest work and a new roof, it took us 7 months to get a valid offer. I sincerely want what is best for my sellers. That previous listing hurt us a bit. We received lots of pretend offers and lowball offers and tons of showings, but we held out for that buyer we knew would pay the price we needed. The home sold at list price, I’m pleased to report, which was 15% less than the comparable sales — a fabulous deal for the lucky buyers! The buyers did not have to do any pest work nor put on a new roof to get a conventional loan. There were no lender required repairs.

We encountered a small glitch near closing. Because of the time that had passed, now the first mortgage and the second mortgage were both involved in the short sale. At the last minute, while I was in Minneapolis visiting my dying brother, the negotiator refused to approve the HUD because the buyer’s agent was crediting a small amount toward the buyer’s closings costs. We went around and around about California Civil Code 580e. I know that code inside out, and the basis of Senate Bill 458 that created paragraph E, and I insisted they approve the HUD, and their lawyers finally saw the light and agreed. So we closed. Just in the nick of time.

I just received an email last night from the sellers telling me I was right, they felt now that a tremendous burden had been lifted from their shoulders. They were very grateful for the referral to me. And this is what makes what I do worthwhile. But geez, I wish they would come to me first.