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Most foreclosure agents are reputable but some are still pulling shenanigans. Over the past 4-5 years some foreclosure agents had set up shadow companies that did the maintenance and securing of the foreclosures they took care of. That was okay. What wasn't OK was when the foreclosure agents feed the great deals to their friends and shadow companies they had set up.
There were certain agents in the metro Detroit area that were flipping 100 homes a year by getting the first dibs on the foreclosures. They would paint and carpet them and flip them for a profit. Fannie Mae and Freddie Mac have stepped up and put in the first look program. This is where owner occupant buyers have the first right to buy the home.
This has put many of these shady deals out of business. But my friend tried to buy a White Lake foreclosure two weeks ago. I wasn't the agent as he has a brother in the business. The White Lake foreclosure was sold the same day to a cash buyer for the list price of $65,000 even though there were two other bids.
They did not do a highest and best which makes the whole deal very suspect. The other two bids were $105,000 and $126,000 mortgage bids with 20% down. Now this was a Freddie Mac deal which means it is our money they are losing when they take a low ball bid. The home would have easily appraised for $130- $140,000. I don't know why it was listed so low.
The White Lake foreclosure was in relatively good shape too!
I understand cash usually wins. But when it is double the price and no highest and best offer is put out then I think there is shenanigans being pulled by the listing agent. I told my friend to look up all the Freddie Mac employees on Facebook, Linked In, and on the web. I told him to email them what happened and ask for help.
Well it must have worked because yesterday the home came back on the market and now there is a highest and best on the home. So my friend has a chance to at least put his best foot forward. He may not still win the home but he at least has a reasonable chance to.
Search for Metro Detroit foreclosures
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The Ben Lang Properties Home Selling Team has just listed a new White Lake Township MI home for sale. Have you been looking for Oakland County Lake Front Property for Sale? Here is the perfect Oakland County MI home for sale…
White Lake Township MI is known for the Oakland County lake front property for sale because of the numerous lakes that encompass the Township’s 37 square miles. There are 5 school districts that the White Lake Township adolescents go, these are Clarkston, Holly, Huron Valley, Walled Lake and Waterford School District.
Located within the Huron Valley School District, the Oakland County lake front property for sale listed by Ben Lang of Ben Lang Properties, is located on over half an acre of prime Oakland County MI land.
"This White Lake Township MI home for sale is a superb example of Oakland County lake front property for sale"
Have you wanted to ever wake up and see the blue waters in your backyard?
The Ben Lang Properties staff would love to schedule a private showing of this Oakland County lake front property for sale. Contact us today!
Ben Lang Properties is home to one of the leading Oakland County Realtors. Specializing in all aspects of real estate including short sales, foreclosures and working with home buyers and sellers with Oakland County luxury homes. When you hire the Ben Lang Properties staff, whetherpurchasing or selling Metro Detroit Real Estate, you can rest assured that you are in good hands!
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Cooley Lake waterfront homes (White Lake, Michigan). Lakefront ranch homes range in size from 800 square feet to over 2500 square feet. On the North side of the lake there are some wide and deep waterfront lots set back off the road. The road is paved on that side. I don't know about the south side of the lake roads.
The colonials that have been listed for sale in the last three years range in size from 1700 square feet to over 3900 square feet. Again like many Oakland County lakes the age of Colley Lake homes range frome 1920 to today. There are a few homes on the lake that they don't even know when they were built!
Some homes have been added on to, and remodeled. So even though they are a 1940's home they may be beautiful inside. Many homes on the lake were built in the 1970's, 1980's, 1990's. Kids that live on the lake will be going to the Walled Lake school district. Cooley Lake home styles are bungalows, cape cods, colonials, ranches and split levels.
Cooley Lake is located in White Lake Township and there are a few homes on the lake in Commerce Township in Oakland County MI. It is North of Cooley Lake Rd, East of Round Lake Rd, West of Union Lake Rd, and South of Cedar Lake Rd. It is located really right at the intersection of Cooley Lake Rd and Union Lake Rd. You can see the lake on the north side when you drive down Cooley Lake.
If you are interested in any Cooley Lake homes, please give me a call or email me at yesmyrealtor@gmail.com
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Michigan Lake Info:
| • Murray Lake |
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Currently there are 16 White Lake foreclosures (White Lake Twp, Michigan). On average these homes have been on the market for 60 days.
If you are interested in seeing any of these White Lake foreclosures, please give me a call or email me at yesmyrealtor@gmail.com
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| • Leonard Lake |
| • Lester Lake |
| • Little Cedar Lake |
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In the past year 12 Pontiac Lake homes sold (White Lake Michigan). On average these homes were on the market for 225 days. These Pontiac Lake homes range from 700 square foot ranches and bungalows up to colonials at 2400 square feet. If you are looking for an upscale private lake with large homes then Pontiac Lake isn't the lake for you.
Pontiac Lake homes are located ona 612 acre, all sport lake with public access. What is nice about the lake is there are a few peninsulas and 17 islands to cruise around.
Pontiac Lake is located North of M-59, East of Teggerdine, West of N. Williams Rd, and South of Gale and White Lake Rd. Pontiac Lake is located in White Lake Township just minutes away from Waterford MI
If you are looking at Pontiac Lake waterfront homes, please give me a call or email me at yesmyrealtor@gmail.com
Search for Southeastern Michigan homes
Real Estate Videos:
Pontiac Lake sunset, White Lake Michigan
Moving to Michigan Garden City real estate
West Bloomfield Condos - Condo buyer tips
Michigan Lake Info:
| • Ackerman Lake real estate |
| • Base Line Lake |
| • Baetcke Lake waterfront homes |
| • Bass Lake |
| • Belleville Lake |
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