Short Sales – Why Closing this Deal is not for the Faint at Heart…

1994-08-033 002Twenty years ago during a weekly Broker tour, an agent pointed out a home that was in the process of foreclosure.  As a brand new agent, I didn’t really understand the significance.  For one thing, there were very few distress sales and most agents had never actually negotiated a transaction with anyone other than a home seller.

Fifteen short years later, the landscape would change dramatically as Distress Sales (Foreclosed Homes and Short Sales) skyrocketed to almost 60% of the sales in the West Michigan area during the worst parts of the economic recession.  Thankfully, the volume of this type of real estate activity has slowed substantially.  However, when a negotiation requires the assistance of a Short Sale Specialist, choosing an experienced professional can make all the difference in the world.

Recently, we closed a Short Sale transaction that required negotiating through multiple offers and almost a year to bring to closure.  It was a unique challenge.  At the closing, it was hard to express the gratitude we all felt in seeing another family successfully move from here…to there.

Lanita’s story about her journey and her experience with Audu Real Estate will be a feature in our upcoming April newsletter.  If you’d like to be added to our mailing list to receive future installments, please e-mail us:  lola@audurealestate.com.  You may also visit us on Facebook.

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