Short Sale Smorgasbord

Real Estate Broker/Owner - Al Phillips (Realty Executives Stoney Creek)
Believe it or not, this short sale I have been commenting about is scheduled to close next week.  The seller's bank did two BPO's that came in at $40,000.  Believe it or not, the buyer's bank did an appraisal and it came in at the $55,000 asking price.  Figure that one out.  Now we go through the...
Well, if you read my last Blog, you know my feeling on short sales.  That particular short sale I was discussing is now about ready to close.  Needless to say, we have one last problem now.  We started this deal so long ago that the purchase price of $55,000 was a steal.  Now, with mortgage appro...
Can you believe that after working on a short sale for over four months, the seller's wife lost her job three days  before close.  Of course, the mortgage company found out and pulled the mortgage approval.  The buyers will still be able to get approved but it will take another three weeks due to...
Short sales are a way of life in Michigan.  If an agent is unwilling to embrace the short sale in his or her business, they are missing out on a large part of their potential business.  Short sales listings are well over half of all of my listings since January 2008.  Presently, I have three shor...

Al Phillips

local_phone(248) 651-7701
smartphone(248) 670-2656
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A blog about short sales and anything related to short sales