Time for the Friday Roll Call!!!! Let's get positive!!
I am dedicating another post just to allow all of us the opportunity to read a positive story or two. I will start!!:
1. Had two inspections, that both went well.
2. Got 2 Short Sale and 1 buyer Referrals this week
3. Lost a buyer on a Short sale listing on Monday but got two offers today to save the deal.
4. Got a flattering offer to join a top notch team, past on it but it was so nice be asked.
5. The weather is wonderful.
6. My family is healthy and all is well
7. Played soft ball with my 2 brothers, had a blast, reminded me how nice it was to be a kid!
***" Winners WIN by never losing, achievers achieve by never quitting. ", Mike Sher?***
Make it a winning week.
Mike S
Mike Sher,
Office: (248) 644-4700x242 Fax :(248) 499-1020 Bloomfield Hills, MI 48302 E-mail: mike@mikerealtor.com CDPE (Certified Distress Property Expert)
shortsale@mikerealtor.com
Servicing Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City
This is a Birmingham Short Sale that I listed and closed. My seller needed to sell. He was forced to relocate; his occupation was not in demand any more and his income was reduced to half. He and his wife were thrilled with my services. Without a Short Sale, he would have been foreclosed on. This would result in years of debt and probable litigation with wage garnishments.
Some Homes have become an anchor that prevents the owner from progressing with the rest of their lives. A SHORT SALE can cut the rope which allows the seller to move on to a brighter future with our the baggage of the past.
PROFILE:
Location: Down Town Birmingham, MI
Type: Single Family Home, 2100 Sqft, 3 bed, 2.1 bath, basement and garage
Condition: completely updated with granite countertops, remodeled baths and more.
Lender: Wells Fargo
Amount Owed: $630,000
Sold Price: $385,000
List Date: 09/17/2007
Closed Date 06/06/2008
Negotiation time: 4 month
Amount owed by seller post closing: zero
Seller's out of pocket costs: less then $1000
Hardship: loss of income, failing business and forced to relocate.
Happy Seller, Happy Buyer and One less Foreclosure in Michigan.
Call me, I can help
Mike Sher,
(248) 644-4700
CDPE (Certified Distress Property Expert)
MCAR, Short Sale Trainer
Max Brook and Real Estate One Short Sale Specialist.
The Mike Realtor Team Blog - Metro Detroit/Oakland County
Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City
But, We Can Help!
This is a competitive real estate market. If you have to sell and can not, perhaps it is time to look at a Short Sale. The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.
Time for The Friday Roll Call!!!! Let's get positive!!
I am dedicating another post just to allow all of us the opportunity to read a positive story or two. I will start!!:
1. Spent quality time with my family over the holiday.
2. Got 2 short sale listings this week!!
3. Wrote an offer on a Freddie Mac foreclosure and got it accepted.
4. Picking up my kids from school today to take them to the Birmingham fair!!!
5. Met with a new buyer last night.
6. Have an inspection this weekend and two listing appointments.
7. got an offer on a short sale listing.
***" Luck is more often found through hard work then by blind chance ", Mike Sher?***
Make it a LUCKY week.
Mike S
Mike Sher,
Office: (248) 644-4700x242 Fax :(248) 499-1020 Bloomfield Hills, MI 48302 E-mail: mike@mikerealtor.com
CDPE (Certified Distress Property Expert)
shortsale@mikerealtor.com
Servicing Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City
Often, sellers think that sending house keys to bank will satisfy their obligation. It will not. When the borrower closed their loan they signed two documents; first, "A Note" which is a promise to pay and second "The Mortgage" offering the home as collateral.
These are two different documents; the loan is a promise to pay the FULL AMOUNT owed or amounts if you have multiple notes/loans. The MORTGAGE, allows the bank to seize the asset, BUT it does not allow forgiveness if the asset is worth less then the note. The bank can and most likely will at some date try to collect the difference. They can hire collection companies, attorneys and even garnish wages. The bank can also 1099 you for the charge off and put a foreclosure on your credit record.
So to walk away is just a short term solution to a much larger problem, a band-aid for a bullet wound. Before your client puts those keys in an envelope, have them seek legal advice and review the many other options like Short Sales, Loan Modification, Repayment Plans and/or Deed in Lieu.
Need more information, call me !
Mike Sher,
Office: (248) 644-4700x242 Fax :(248) 499-1020 Bloomfield Hills, MI 48302 E-mail: mike@mikerealtor.com
CDPE (Certified Distress Property Expert)
CDPE (Certified Distress Property Expert)
MCAR, Short Sale Trainer
Max Brook and Real Estate One Short Sale Specialist.
The Mike Realtor Team Blog - Metro Detroit/Oakland County
Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City
But, We Can Help!
This is a competitive real estate market. If you have to sell and can not, perhaps it is time to look at a Short Sale. The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.
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One thing that causes a problem is when the bank sheriff sales a home that is vacant while you are working on a Short Sale. In Michigan, an owner has 6 months of redemption unless the bank deems the home Abandoned and then they can take it back with in weeks. Well, often my owners still have all of the unities on and the home is vacant but not abandoned. So, what I do is have my seller sign the letter below and I post it on all of the doors in the house. So far it has worked. Mike Sher THANK YOU FOR VISITING OUR HOME. As you might be aware, our home is in the Redemption Period of Foreclosure until August 24, 2009. Therefore, in the State of Michigan, we have the right to sell and close on the property until August 24, 2009. This is not a Bank-Owned property. All utilities are on, and the mechanicals are in working order.
If the person reading this is employed by the lien holder or is an agent for the lien holder, including real estate agents, a securing company, or locksmith, THIS HOME IS NOT ABANDONED! We maintain possession of this property.
For questions pertaining to the sale of this property, please contact our Realtor, Mike Sher, 248-xx-xxxx x175.
Mr. and Mrs. John Doe seller
Need more information, call me !
Mike Sher, Office: (248) 644-4700x242 Fax :(248) 499-1020 Bloomfield Hills, MI 48302 E-mail: mike@mikerealtor.com CDPE (Certified Distress Property Expert) MCAR, Short Sale Trainer Max Brook and Real Estate One Short Sale Specialist. The Mike Realtor Team Blog - Metro Detroit/Oakland County Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City But, We Can Help! This is a competitive real estate market. If you have to sell and can not, perhaps it is time to look at a Short Sale. The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.
Any entry to our home with motive to change locks or breach our legal right of possession during the Redemption Period shall be prosecuted to the fullest extent of the law. |
Over 40 Sales for 2009!! SE Michigan Real Estate, Short Sale Expert & Luxury Homes, in Oakland, Focus in Birmingham, Bloomfield, Beverly Hills & West Bloomfield. Call (248) 496-1572
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