Weekend at Bernie`s. Lender doesn`t understand the clients are deceased.

In our ever continuing saga of SHORT SALES, lenders, and operational procedures, every now and than you get one where you just burst out laughing!!!

The laughter is over the mere fact, many lenders don`t quite grasp what their doing,nor do they seem to comprehend.
Why!?!

I guess when you have $10 per hour people working on "Short Sales" with little or no training,they don`t seem to be properly trained.

Such was the case yesterday in which we`re involved in a $67,000 Estate Sale.
The people who owned this condo passed away 2 years ago.I thought we notified the lenders about this situation by sending them "Death Certificates" verifying the couple were in face deceased!

Weekend at Bernies anyone?!

There is no funds in the estate. The family walked from the condo in January.
The comps in the area indicate closed sales average $65,000.
We thought this would be a "No Brainer" for all parties involved,except when it came down to closing.
The lenders decided the BPO which was done two months ago, needed to be reordered.
This time the lenders decided the Condo was worth $79,000.

The conversation is as follows:

Lender: We ordered another BPO, this time we`re assured the value is $79,000. We won`t agree to the $67,000 sales price.
Me: What do you want our client to do?
Lender: We want them to agree to a sales price of $79,000.
Me: After you already agreed to $67,000? Why would anyone do that?
Lender: That is our net figure.
Me: After 12 weeks of going back and forth over an Estate where the couple is deceased this is the best you can do? If I were in your shoes, I`d take the $67,000 and RUN! Didn`t you folks see the comps?
Lender: We need to clear $79,000 and there is no COMMISSION left for you and the other agent!
Me: Really?! Well, I guess there is no sense in going further. In the end it will cost you and additional $20K in legal fee`s etc. to bring this to foreclosure,thereby netting somewhere south of $50K. That makes more sense.. I get it!

I kept thinking the movie "Weekend at Bernie`s".
I never had so much fun in my life attempting to figure out what the heck the lender was doing!