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Short Sale Tip # 61 Birmingham, Michigan:  Don't wait to start the short sale process. “You HAFA try!!” Mike Sher (248) 496-1572, Max Broock Realtor

 Often real estate agents wait to start the short sale process until they have an offer.  This is a BAD idea and if the seller is not making payments it is a worse idea.  In short sales, time is not on your side.  So why not try and make some headway with banks before you have an offer.  Perhaps the seller can go HAFA (Home Affordable Foreclosure Avoidance) program.  This program offers full deficiency release, $3000 seller moving allowance and once approved, the bank is able to make a decision 10 days after they get an offer.  Why not try.  Sadly, some agents would rather wait to get a buyer before they start the HAFA process.  Not sure why they wait, maybe they unaware or inexperienced.  Either way, it is a mistake.  I would recommend that one day one your realtor or attorney sends in the 3^rd party authorization.  Day two a call should be made to investigate different short sale options.  Day three an application should be sent into the bank to start the process.  After all, “idle hands are the devils tool!”

Sincerely,
Mike Sher
Max Broock Realtors
248 496-1572

2010 results: 75 units sold, over $10,000,000,00 in sales and 365 days of FOCUS!

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