Short Sale Success in Plainfield, IL ~ Short Sales Do Close!!

By
Real Estate Agent with RE/MAX of Naperville

On Aug 31, my short sale listing in Plainfield IL closed. What seemed to be a long process with many Plainfield, ILhurdles finally came to an end. In this case, the process took a bit longer because there was a private mortgage insurance company that also needed to approve the short sale. In addition, the bank's negotiator was somewhat unorganized -- let an approval letter and BPO expire -- not good.

The seller owed $260,000, and the short sale was approved for $190,000. It took 120 days from receipt of contract to close.

The success also came from everyone being patient and working together. The buyer's agent was very understanding and great to work with, the buyers were extremely patient -- even had a wedding in between -- the attorneys were the glue that held everything together.

Yes, short sales are a lot of work but in the end, are very rewarding -- with one less foreclosure on the market and to hear the grateful words of seller -- out weighs all the work.

 

More posts on Short Sales:

Fannie Mae Guidelines favor Short Sales

Short Sale - Do you Qualify?

Short Sales...Not for the Impatient.

Buyers/Buyer's Agents ~ Don't be scared off by Short Sales....

 

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Maria Mastrolonardo is a Realtor Associate with RE/MAX of Naperville and has been assisting home-buyers and home-sellers since 1997.  Maria can be reached at (630) 248-6077 or email: mmastrolonardo@gmail.com

Servicing the towns of: Naperville, Aurora, Lisle, Plainfield, Bolingbrook, Warrenville, Wheaton, Woodridge or other surrounding areas.

 

 

Posted by

Maria Mastrolonardo is a full time Illinois Realtor-Associate with RE/MAX of Naperville specializing in Short Sales. She has been helping home-buyers and home-sellers since 1997. She can help you with any questions or information regarding Short Sales for the Western Suburbs of Chicago which includes but not limited to; Naperville, Aurora, Downers Grove, Lisle, Plainfield, Bolingbrook, Warrenville, Wheaton and Woodridge.

To reach her call/text at (630) 248-6077 or mmastrolonardo@gmail.com

 

You can also find me here!

 

                                    

 

RE/MAX of Naperville is not associated with the government and our services have not been approved by the government or your Lender. Your Lender may not agree to the change of your loan and/or a Short Sale.

Photo: Microsoft Clip Art

 

 


 

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Home Selling
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Illinois Will County Plainfield Caton Ridge
Tags:
short sale
short sale success
short sale plainfield illinois

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Rainmaker
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Brian Brumpton
Keller Williams Boise - Boise, ID
Boise Idaho Real Estate

Maria,

You touched on a key point in short sales.  If you're the listing agent you have to keep the buyer's agent informed and make sure they're communicating the progress to their buyers.  Keeping everyone in the loop helps hold contracts together.

Sep 04, 2009 06:25 AM #1
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Rainmaker
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Maria Mastrolonardo

Realtor, Naperville, IL Real Estate
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