9056 Emerson in Saline Michigan a short sale closes today.
The offer was submitted on March 30th. It has two loans both with Sun Trust. The buyers hung in there. Most of my short sales that fail to close are due to buyers getting tired of waiting and having to start the process over.
I have had 5 offers on one of my Short Sales and each time the buyers walked. I think the negotiator is sick of it. I know my sellers are. Of course being the eternal optimist I am still believing it will close. I will post more details later. But, today am just happy for the closing on Emerson.
One of the most valuable sites I have found is Short Sale Superstars. The very minute I get a short sale listing I go there to see how other Realtors have dealt with the bank in question.
It is such a supportive network, started by Broker Bryant.
***A note about the market, this home was built and sold for $526,155.00 in 2005. Then my clients bought it for $436,250.00, in 2007, it sold today for $344,000.00. i would like to say this is unusual...but I can't.
**********************************************************************
Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com
Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.
- Search the Ann Arbor Area MLS.
- Market Reports in Real Time Updated Weekly
- Profit from Technology for Realtors and Lenders
Missy Caulk & Team can be reached at 734-926-9797 or email: Missy@MissyCaulk.com
Our TEAM of 6 Agents are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.
- Search the Ann Arbor Area MLS.
- Market Reports in Real Time Updated Weekly
- Profit from Technology for Realtors and Lenders
Going to SSS is a great way to get a little input on the bank, especially if you have not worked with them before.
Missy, I just wrote an offer on a short sale that is at the beginning of the process. I primed my buyer for a LONG SALE! She has a home and so the wait is no big deal as she is not selling her home to buy this one. I hope they will deal with us as I don't know the buyers are behind in payments they are just upside down. I'm not sure why they are wanting to sell. At the moment I don't have warm fuzzies on this one.
Hi Missy - Congrats on the closing! That is the most frustrating part of short sales: having to start over and over as buyers become impatient. Funny - I promoted Short Sale superstars at our office meeting today. There is so much to learn there - even if you are experienced. I have gotten some phone numbers of executives that can overrule their negotiators when they are being ridiculous or uncommunicative, and deals have been saved by knowing those numbers. I got them on Short Sale Superstars.
Missy-Doing the happy dance for you! Wow...March? I hear the horror stories continually. We were so lucky here, in that we weren't seeing many short sales....now, it's changing. I have one now and have had several inquiries just this month. Ugh.
Good to know about the Short Sales Specialist site. Thanks for the great info, as always :)
SSS is a great resource for those working with SS. Congrats on your closing !
Missy,
Congratulations on a closed short sale. Buyers leaving when it is ready to close is my biggest frustration. I know that feeling
It worked this time
Good luck in the future
This looks like a very nice home... here is some special karma for the short sale part of it.
Missy why don't you put into the contract that the buyer has to wait X amount of time for short sale approval. Every short sale I work with the buyer is requited to wait 90 days for approval. Not one buyer has walked yet. If a buyer won't wait they are not the right buyer for the house!
Jon, got your email...I will call you later if that is OK.
Bill, I have one now. Thought about it for awhile and too heartbreaking not to.
Missy, congratulations on hanging in there and getting this sold for your clients! It takes dediication to get short sales sold. I would concur with you on Short Sale Superstars and Broker Bryant!
So happy for you Missy! Thinking back 5 years...who would ever have thought that it would take this to close on a house.
Congrats Missy! Short sales are not easy and it is great to have resources to go to through phenomenal online networks (such as BBs and AR) to help complete the job.
I sure would agree with that Missy!! Having a clause requiring a buyer wait shows how good the buyer is right of the bat.