Wanda Banks, Home Buyer in Detroit, MI

what is going on with the property on at 15830 Glastonbury. I just want to know if it is attainable or not

Asked by Wanda Banks, Detroit, MI Mon Jul 30, 2012

I have talked to three people. Is it sold?

Help the community by answering this question:


Haig Istamboulian’s answer

The home at 15830 Glastonbury in Detroit was put up for a Short Sale on 4-9-2012 at $24,900.00. An offer was accepted on the home by the OWNER of the home on 7-26-2012 and now the home is marked CCS. CCS means that the OWNER accepted the offer, but now the offer gets sent to the mortgage company for review.

In case you don't know what a short sale is; the owner of this home owes more on the home than the sale price, so they are underwater on their mortgage. Since the mortgage holder is owed more than the home is worth, they are the ones who have to make the final decision as to whether or not they will accept the offer. So until the bank makes a decision, the home will remain marked as CCS.

CCS technically means that you can see the home. But if you decide to place an offer on the home, it will ONLY be considered as a back-up offer, if a back-up offer does NOT exist. Also, just because a home is marked CCS doesn't mean that the listing office will let you see it, some offices will not allow you to see a home marked CCS.

I hope this explains it for you, but feel free to email me with any other questions that you may have, my contact information is listed below.

Thank you,

Elias Realty
(248) 379-6547
1 vote Thank Flag Link Tue Jul 31, 2012
Haig you have been excellent in explaining the situation with the house on Glastonbury. I am still interested. can you keep me updated on the status of the house? I would like to know the decision of the bank. My daughter told me that could take months. Let me know.
Flag Wed Aug 1, 2012
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