Short Sale Realtors: Bloomfield / Birmingham / Novi / Troy / Rochester / Beverly Hills / West Bloomfield / Franklin / Royal Oak / Huntington Woods / Oakland County / Detroit Metro Area The Mike Realtor Team! : Michigan: Novi

Mike Sher 2009 Track Record: 56 homes sold, 22 Short Sales and 365 of Focus  

A ton of agents are complaining about equator and how it does not work well with Realtors.  I think the bigger problem is that we Realtors need to figure out how to work with Equator.   So here are ten ways to make equator "Realtor Friendly"!!

1. Download the BOA Short Sale Equator guide http://bankofamerica.reo.com/documents/AgentEducationGuide.pdf
2. In your listing presentation, prepare your seller on how to work with equator.
3. On your addendum's to your purchase agreement include "buyer agrees to supply listing agent first 5 digits of buyer's social security number, address, phone number and date of birth 24 hours after mutual acceptance of offer."
4. After starting the short sale on equator (make sure you seller is available)  3 way call  866.880.1232 to set up the borrower on Equator
5. PDF in advance, into individual files, the borrowers tax returns, last two pay stubs, bank statement, hardship letter, financial statement, w2's and etc.
6. Check Equator daily to see if you have any open tasks, complete them ASAP!
7. Email through equator 24 to 48 hours after you have completed a task.
8. Call equator weekly if your account has been idle on the BOA side, have the customer service person trigger the account.
9. upload bank statements and pay stubs when every your seller gets them.
10. if you lose the buyer, be prepared to start over again and not to lose your cool!!!

Good luck and for any Michigan short sale seller's out there, contact me.  I would be glad to help.

 The Mike Realtor Team sells Homes in Bloomfield, Birmingham, Beverly Hills, Farmington, West Bloomfield. Rochester, Troy, Novi, Huntington Woods, Royal Oak & Auburn Hills. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher

The Mike Realtor Team sells Homes in Bloomfield, Birmingham, Beverly Hills, Farmington, West Bloomfield. Rochester, Troy, Novi, Huntington Woods, Royal Oak & Auburn Hills. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher

The Mike Realtor Team is proud to announce that our Novi Home has recently SOLD. With our 90% Short Sale success rate, the Mike Sher Team is has saved another home from Foreclosure. If you are looking to sell your home or looking to buy a great home for a great price, the Mike Sher Team is here to help. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher

This is a Novi Short Sale that I listed and closed.  My sellers needed to sell.  They were both affected by the economic downturn and were unable to continue paying for their monthly mortgage payments.  Their incomes were reduced to more then half of what they were making at the time the mortgage was originated.  The Sellers were thrilled with my services.   Without a Short Sale, they would have been foreclosed on.  This would result in years of debt and probable litigation.  

Some Homes have become an anchor that prevents the owner from progressing with the rest of their lives.  A SHORT SALE can cut the rope which allows the seller to move on to a brighter future with out the baggage of the past.    

PROFILE:

Location:  Island Lake Orchards, Novi, MI                          

Type: 2006 Toll Brother's Single Family Home, 3814 Sqft, 4 bed, 3.1 bath, basement and garage

Condition:  Fantastic with granite counter tops, remodeled baths and more.

Lender #1:  Country Wide/Bank of America

Amount Owed: $634,000

Lender #2: Community Choice Credit Union

Amount Owed: $90,000

Sold Price: $490,000

List Date: 02/07/2009

Closed Date 09/02/2009

Negotiation time: 2 month

Amount owed by seller post closing: Promissory note on the 2^nd lien.

Seller's out of pocket costs:  0

Hardship: loss of income, failing business and need to reduce expenses.

Happy Seller, Happy Buyer and One less Foreclosure in Michigan.

 Call me, I can help

Sell My Home to Stop Foreclosure Now

 Mike Sher                                                                     

Office: (248) 644-4700x242   Fax :(248) 499-1020
4120 Telegraph Rd, Bloomfield Hills, MI 48302
E-mail: mike@mikerealtor.com            

Blog/Profile: http://activerain.com/mikerealtor  Web: www.mikerealtor.com                   

Linkedin: http://www.linkedin.com/in/mikesher  CDPE: http://hosted.cdpe.com/MikeRealtor/

 he Mike Realtor Team Blog - Metro Detroit/Oakland County

Servicing in Southeast Oakland County, Auburn Hills, Birmingham, Bloomfield, Berkley, Beverly Hills, Canton, Clawson, Farmington Hills, Ferndale, Huntington Woods, Northville, Novi, Pleasant Ridge, Plymouth, Royal Oak, Rochester Hills, West Bloomfield, Troy, etc. We worked with: Bank of America, Country Wide, HSBC, EverHome, Litton, GMAC, Chase, Wells Fargo, Flagstar, Fifth Third, Charter One, Comerica, Am Trust, US Bank, National City

But, We Can Help!

This is a competitive real estate market.  If you have to sell and can not, perhaps it is time to look at a Short Sale.  The Mike Realtor Team has performed dozens of Short Sales for professionals who have lost their job, income has declined, medical problems, relocation, retirement, divorce, loss of spouse, unable to make ends meet, or other reasons not listed.