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

By
Real Estate Agent with Keller Williams Realty - Lakeside Market Center

 

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.


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Ambassador
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Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

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

Jul 28, 2008 11:34 PM #1
Rainer
225,598
Diane Bell, Hilton Head Real Estate, Bluffton
Charter 1 Real Estate, Hilton Head, Bluffton, SC - Hilton Head Island, SC

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.

Jul 28, 2008 11:36 PM #2
Rainer
340,913
Kris Wales
Keller Williams Realty - Lakeside Market Center - Macomb, MI
Real Estate Blog & Homes for Sale search site, Macomb County MI

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!

Jul 29, 2008 01:16 AM #3
Rainmaker
281,679
Mike Mitchell
Real Living Kee Realty - Saint Clair Shores, MI
REALTOR (R)

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

Jul 29, 2008 02:33 AM #4
Rainmaker
1,524,338
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

I am impressed. Obviously everyone did their part!

Jul 29, 2008 06:47 AM #5
Rainmaker
2,792,446
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

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

Jul 29, 2008 12:57 PM #6
Rainer
340,913
Kris Wales
Keller Williams Realty - Lakeside Market Center - Macomb, MI
Real Estate Blog & Homes for Sale search site, Macomb County MI

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.

Jul 30, 2008 02:45 AM #7
Anonymous
Alex

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Jul 31, 2008 05:50 AM #8
Rainer
29,080
Diana Lyons
Blacksburg, VA

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.

Sep 15, 2008 08:39 AM #9
Rainer
104,093
Lester Wilkins
Blue Water Home Loans NMLS# 166527 - Port Huron, MI

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

Jul 11, 2009 04:00 AM #10
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Rainer
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Kris Wales

Real Estate Blog & Homes for Sale search site, Macomb County MI
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