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Lakewood OH Short Sale Closes

Another successful short sale in Lakewood Ohio. This seller will not have to file bankruptcy now that her debt has been settled. With so much at stake it makes sense to seller your Lakewood, Ohio short sale with an expert! Call Andy 216-324-6637

In spring of 2009 another agent referred me a listing in Lakewood, OH to sell on a short sale. The seller had lost her job and gotten a divorce. She got a new job but it was only minimum wage and not enough to maintain the $135,000 mortgage. The best offer available was an offer for $75,000. Washington Mutual delayed and lost our paperwork more 4 different times and several times arbitrarily turned down the offer. WaMU also went bankrupt and sold to Chase. After four months the buyer walked at the same time Chase was getting ready to accept our offer.

The sellers told me they were filing bankruptcy and their attorneys told me they couldn’t sell. However they never ended up filing bankruptcy because they couldn’t afford to. Many months later a buyer called to see if the property was still for sale from some old internet marketing. I called the sellers and they agreed to an offer the buyer made for $68,000. We submitted this to the lender and had acceptance in about 60 days.

During this time an old lien from more than 10 years previous cropped up. It was supposed to be paid off but it was never released off title. It almost derailed the closing but our title attorney spent many many hours following up on the lien. Even though the company that had owned it went bankrupt they ended up getting special permission from their underwriters to insure title and close the deal. We slipped in the end of June deadline and the buyer was happy to get her tax credit money.

The seller was ecstatic to have avoided bankruptcy and gotten rid of her home.

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Andy Morris is an Ohio real estate broker with an expertise in selling homes on a short sale. If your Ohio home is heading towards foreclosure or you owe more than your property is worth, please call Andy at 888-4-STOP-IT to see if you qualify for a short sale with your lender. Are you not in the North Eastern Ohio area? His team can negotiate short sales across the United States.

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