Why choose Michael Sorensen Team for your Chicago & Illinois Short Sale Service?
- there are no upfront fees or out-of-pocket expenses to our short sale clients for any of our short sale service and you will not be asked to bring any money to closing. We are paid by the Bank.
- we are Short Sale and Pre Foreclosure experts. We help property owners negotiate a short sale, avoid foreclosure and walk away with no obligations.
- we have partnered with the largest short sale negotiation firms and top real estate attorneys specializing in short sale and foreclosure law, who close more short sale transactions than anyone else in Illinois.
- we have established relationships with virtually every lender, so we are able to properly 'package' the short sale and get it to the right person in the right format for an prompt response.
- your bank could let you sell your property for less than you owe in mortgages if you are in financial hardship or must relocate.
- we don't charge any upfront fees and you will not be asked to bring any money to the closing.
- The Realtors' commissions, the Lawyers fees, our Short Sale negotiators and the Seller's closing costs are paid by the bank.
- We will NEVER try to buy your property from you, and we will NEVER ask you to sign the deed over to us. We just want to help you sell the property.
Michael Sorensen - Broker Asc
RE/MAX CITY REALTORS
Serving Chicago & most Suburbs
5435 N. Harlem Ave
Chicago IL 60656
Related Terms & Definitions.
Short Sale (Pre Foreclosure Sale, Short Sell, Short Pay)
Definition: Short Sale is a Real Estate sales transaction where the proceeds of the sale fall short of the property owner's outstanding real estate debt obligations (mortgage loans, real estate taxes, etc..).
In a Short Sale, the lender agrees to adjust the amount owed on the mortgage and accept less than a full payment, in order to get the property sold and avoid foreclosure.
Definition: Repossession of a real property. A legal process by which the lender forces a sale of a mortgaged property because the borrower has not met the terms of the mortgage. (Short Sale prevents Foreclosure).
Definition: Real Estate Owned. Refers to bank or corporate owned property aquired through foreclosure. If a property does not sell at the foreclosure sale (auction), it goes back to the lender and becomes an REO.
Definition: Broker Price Opinion.