Short sale achieved – again.
Listing date to close 2 months, 6 days. What is a short sale?
We are happy to announce we were able to complete another
short sale in Madison Wi. In doing so we
were able to allow Sarah H. to complete
a job transfer to Rancho Cordova CA.
Here is the scenario.
Sarah had a Wheda loan so she was not allowed to rent the place. She owed approximately $110,000 on a unit
that appraised at $65k. With a Net
procedes of about $47,000, the short fall was 63,000.
We listed March 19th for $60,000 and had 5
showings on the first weekend.
One offer received and accepted $62,000
March 24th
Sale approved May 9th. Equals 45 days offer to approval.
Closing May 28th. For a total of 69 days, not bad for a short
sale.
Sellers were asked to sign a note for $15,000, which was
negotiated to $10,000, which was acceptable to seller, with a zero interest
payment of 105 a month.
Seller had not missed a payment, was able to get out of an
underwater home with minimal credit damage.
Read More about short sales http://www.ShortSalesMadison.com
RealEstateGuy has been a full time, full service Realtor since 1993. He is dedicated to helping people achieve their Real Estate Goals and dreams. In order to provide more specialized service, he created a team of hand picked specialists. Guy believes in constantly learning more, so regularly attends national seminars and trainings. Guy has been a top producer, leader in his office, a president of the Wisconsin chapter of CRS, and has spoken at the State Realtor Conventions.
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