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How Long Do Short Sales Take in Ann Arbor?

By
Real Estate Broker/Owner with Missy Caulk TEAM

How long do short sales take in Ann Arbor is a question I get asked quite a bit.

The answer is it depends.

  • Depends on the bank…
  • Depends if there is two loans…
  • Depends if the agent knows what the heck they are doing…

One of the first things we do on the Missy Caulk Team is collect EVERYTHING the bank(s) are going to require UP FRONT.

Short sale packages How Long Do Short Sales Take in Ann Arbor Area? It is called the “Short Sale Package” and includes, last 2 pay stubs, hardship letter, last 2 years of tax returns, authorization forms and financial work sheet.

Once we have collected this from the sellers, we label each page with the sellers last name, the loan(s) numbers and the last 4 digits of the sellers Social Security numbers. This goes on every single page, because banks are known for loosing them.

Then we wait for the offer to come in. Once it does, we send it off to the bank with the whole Short Sale Package.

After this it is out of our control.

 

So in answer to your question, "How long do Short Sales take in Ann Arbor?"

It depends.

But, we were prepared and ready to go to do our part in moving the Short Sale Process along.

If you are upside down on your mortgage don’t bury your head in the sand, call us today. 734-926-9797

Posted by

 

Missy Caulk, Ann Arbor Realtor

Missy Caulk, Broker/Owner of Savvy Realty Group 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.

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Comments (13)

Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Some day we will look back at this and laugh, but right now short sales are a large portion of the real estate market,

Dec 30, 2010 03:24 AM
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents

Upfront is the key, Missy.... You truly know how to lead the pack.

Happy New Year and I'll see you at top.

Dec 30, 2010 04:04 AM
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Missy... some good basic information here. You here so many rumors about short sales... and I think at times, it's because the realtors will say what sounds good to get the deal... I think a lot of it depends on the agent, whether they know what they are doing... and the bank and the person at the bank.. good post.

jeff belonger

Dec 30, 2010 04:14 AM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Missy, submitting a complete package is key to a quick return and a great idea to remember to label all pages with "sellers last name, the loan(s) numbers and the last 4 digits of the sellers Social Security numbers".

Dec 30, 2010 06:28 AM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Missy you gave the right answer to anyone looking to purchase or sell an Ann Arbor short sales.  How long the process takes depends on so many factors, the important point is getting the right representation.

Dec 31, 2010 01:28 AM
Dan Quinn
The Eric Steart Group of Long & Foster Real Estate - Silver Spring, MD
Dan Quinn

So right Missy.  Make sure the package is prepared and ready to send to the bank so when an offer comes in there will be no delays.  After that a few prayers wouldn't hurt...

Jan 18, 2011 01:11 AM
Paul Gapski
Berkshire Hathaway / Prudential Ca Realty - El Cajon, CA
619-504-8999,#1 Resource SD Relo

Well sometimes i dont know what to think of short sales. They are getting better and then they are not!

Aug 13, 2011 05:27 PM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!
Hello Missy, it is true that short sale will depend on many factors. As mentioned by Jennifer, one of the most important factor is presentation. Thank you for sharing and stay the most reliable Ann Arbor Short Sale Agent. All the best.
Apr 20, 2013 02:46 AM
Erika Rogers
Red Rock Real Estate ~ Southern Utah's Largest Independent Brokerage - Saint George, UT
St George Utah Real Estate & Relocation Specialist
Thank you for sharing what short sale package is Missy and how important it is in a real estate transaction. All the best and keep up the excellent work.
May 05, 2013 10:01 PM
Petra Norris
Lakeland Real Estate Group, Inc. - Lakeland, FL
Realtor, Lakeland FL Homes for Sale
Great article that answers the question how long do short sales take in Ann Arbor?. Hope many readers were able to find this article helpful. Thank you for sharing Missy. All the best this year.
May 05, 2013 10:08 PM
Melissa Muse Wiggans
Real Estate Muses - San Antonio, TX
CRS, GRI, ABR - Real Estate Muses
Hi Missy, glad that you are sharing your expertise about short sale transaction. I'm sure this is of great help to short sale agents who are just starting their career. All the best!
May 05, 2013 10:13 PM
Pat and Ed Okenica
DRAKE REALTY Lake Oconee Ga - Greensboro, GA
Lake Oconee Ga Real Estate
Informative article you got here Missy. I have enjoyed reading this post of yours. All the best and wishing you a fruitful 2013.
May 14, 2013 12:11 AM
Waynette Hoover Araj
Keller Williams Realty - Asheboro, NC
Connecting your Dreams with the Right Real Estate
Well written blog you have here Missy. Thank you for posting and keep up the good work.
May 23, 2013 12:23 AM