short sales for buyers: Buying a Southeast Michigan Short Sale Listing- Negotiating Tips- Part 2 of ? - 08/05/10 11:32 AM
Short sales are about a quarter of the sales lately in Lake Orion and Oxford Michigan. So unless you are in a hurry to close on a new house, you will more than likely be looking at short sale listings- they are becoming very difficult to ignore.
Remember- the seller walks with nothing but bad credit. If the listing agent did his/her job the seller will be protected from future lawsuit from their lien holder(s). Sometimes the threat of a future lawsuit will just be waived by the lien holders, but often times the seller has to pay for that piece of mind.
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short sales for buyers: Buying a Southeast Michigan Short Sale Listing- Negotiating Tips- Part 1 of ? - 08/03/10 08:06 AM
Since about a quarter of the home sales in Southeast Michigan are short sales, I thought I should start posting more articles about some of the tactics my buyers have been using when negotiating with a seller.
Basically a short sale is when the seller owes more than the house can sell for and is unable or unwilling to bring the difference to the closing. In those instances the seller is asking the bank to reduce the mortgage payoff in order to produce clean title at the closing. Please go to my short sale page for more detailed information.
One thing a buyer needs to … (0 comments)