We just closed a short sale in Livonia, Michigan that worked out to be a "win win" for all parties involved:
The 2 banks involved took less than the loan amount that was due, but ended up selling the home and getting it off their books. The alternative would have been having the home go into foreclosure and trying to sell it in the middle of winter here in Metro Detroit. They would then have to winterize the property and try to sell it at the slowest time of year for real estate.
The seller sold the home and avoided a full blown foreclosure which is much better for their credit record.
The buyer was able to purchase a very nice home at a slightly below market price.
The realtors were able to coordinate the process from start to finish and facilitate a successful transaction in a challenging market environment..
Wondering what the current market value is of your Livonia or Detroit MI home? Just visit, MetroDetroitPropertyValues.com.
For more information about owning a home and Livonia, MI real estate, please visit my website or call me at 248-348-1500.
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