Wow.  WOW.  I still have trouble believing it, and it happened to my buyer client.    The bank owned home below (overgrown trees and shrubbery included :-)  was sold to my buyer client in just 15 days from start to finish.   The home is located in Marysville MI (St. Clair County)

Here is what transpired during the process:



Bank owned home sold in Marysville MI
Offer made and submitted to asset manager/bank (HSBC)

Counter offer made by asset manager and conveyed to the buyer.

Counter to the counter offer was made by my buyer to the bank/asset manager.

"Best and final" offer asked for by HSBC.

"Best and final" offer submitted to HSBC and accepted by them.

Signed documents sent by HSBC via email.

Title company contacted, inspection period passed, utilities changed into buyers name.

Final water bill ordered, verification of property taxes conducted, closing date set.

Signed deed received. Closing for the new homeowner.



I have to tell you, even with a cash buyer I have never had a foreclosure sale in our Metro Detroit area go as smoothly or as quickly as this one. 

It made me want to knock on every piece of wood I came in contact with during the process.


Thank you to those at HSBC for their quick responses and most especially to Greg Goforth of Classic Real Estate in New Baltimore MI for his diligence and hard work.


Do you want to search for Metro Detroit area homes for sale?





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9 Comments on Foreclosure sale in St. Clair County MI - one for the "timeline" record books

JUL
29
2008
384,086 Points 2 Featured Posts Localism Sponsor Outside Blog

I saw your title and was looking for a horror story.  Got just the oppositeNice post and congrats . Smooth can happen there is hope

6:34am • #1
224,760 Points 2 Featured Posts Localism Sponsor Outside Blog

It's possible that banks are starting to get up to speed?  I know that HSBC seems pretty timely in responding to offers based on what I've seen here in the Hilton Head area.

6:36am • #2
255,094 Points 44 Featured Posts Outside Blog

Charlie:  Now that I look back over the subject line I can see how one would misunderstand it to mean it took a record long time.  I'm excited too that it worked out so well for this buyer.  No frustrations, no lengthy "hurry and wait..."

Diane:  I'm not going to call one quick transaction a trend, but it sounds like you're seeing the same thing with at least one bank (HSBC).  Great!

8:16am • #3
Localism Sponsor

Kris, that's great! It's nice to have one go so smoothly once in a while. Congrats on your sale!

9:33am • #4
453,159 Points 28 Featured Posts Localism Sponsor Outside Blog

Kris, Don't you wish everything would go that well?  I'd be knocking everything around as well....Congratulations!

7:57pm • #6
JUL
30
2008
255,094 Points 44 Featured Posts Outside Blog

Mike:   It IS nice to have one go so smoothly for the client.  Wishing you many of these..

Gary:  Yes, everyone involved did a fantastic job.

Carole:  I was looking for wood everywhere :-)  Thank you.

9:45am • #7
JUL
31
2008
SEP
15
2008

I never thoguht I'd hear that!  Typically, (especially with a foreclosure) there is so much negotiation.  Buyers think they can low ball, Banks know they have more money than the Buyer and want to hold out.  Congrats!  You must of done a good job with the Buyer & the bank to make them move so quick.

3:39pm • #9
JUL
11

Thanks for this.  It is great to hear when one goes smoothly. 

11:00am • #10

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Kris Wales - Macomb County MI real estate blog & homes for sale search site

Macomb, MI

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Keller Williams Realty - Lakeside Market Center

Address: 45609 Village Blvd., Shelby Township, MI, 48315

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