I certainly think consumers should know about the struggles my husband and I have had with SunTrust Bank recently.
In this current economy, it's obviously difficult to sell a home. When my husband and I found buyers for our condominium in June, we were thrilled! The buyers are an older, wealthy couple who have a main home in Mount Airy and a vacation home at the beach. Our $79, 000 condominium was not an unreasonable purchase for them.
We set our closing date for Friday, August 6-- about a month and a half after the contract was created. Once that day arrived, though, SunTrust admitted to not being prepared. They had not even sent off the package to underwriting yet!
The closing was then rescheduled for Monday, August 9; then again for Tuesday, August 10. Both times, the bank was unprepared and closing was canceled. My realtor, the buyers, my husband, and I have all called, emailed, and even visited the SunTrust branch in person... we can't get a straight answer from anybody. As of today, we still don't have a resolution, nor have they communicated to us any sort of idea of what we should expect.
My husband has had to ask off of work three times; we've had to switch real estate attorneys; and I have had to reschedule numerous conflicts. Each day that passes, we are losing money towards our mortgage, HOA fees, and taxes.
Meanwhile, the buyers are anxiously awaiting a resolution; the wife plans to use the condo as a home to attend UNC-G's Master's in Nutrition program, and school starts next week.
At this point, we don't even know if the loan will close at all, which will be egregiously disappointing because the buyers were preapproved (and obviously qualified), and our condo has been off the market for so long. It will be very difficult to find another buyer in any sort of quick amount of time, and it will be quite an inconvenience the buyers who have already purchased furniture for the condo.
These constant delays and the lack of communication are rude, inconsiderate, evident of incompetence, and downright unprofessional, and I wanted to spread the word that people should avoid SunTrust Bank.