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Looking To Short Sell? > Click Here Work with The Best! Michael Sorensen - Experienced, Certified Short Sale Specialist with Over 100 Short Sale Properties SOLD View My SOLD Listings - Call (773) 987-8224 (Chicago) or (847) 696-1664 (Suburbs)
Click Here - Apply for a Short Sale - Tell us about your property
Ranked #1 Agent For The #1 RE/MAX in Chicago (2009/2010/2011)
250+ Lifetime Deals | 100+ Short Sale Listings SOLD | 25+ Sales Pending
I closed 140+ deals since I joined RE/MAX in 2007 and I currently have 25+ sales pending/closings scheduled.
Chicagoland Leading Short Sale Specialist 100+ SOLD - One of the highest rated, top ranked, best selling, award winning RE/MAX agents in Chicago and Illinois. Specializing in all types of real estate sales: short sales, foreclosures, traditional/old-fashioned sales, quick sales, estates sales. No equity.. No problem! Call 773-987-8224
> Sellers Start Here > Free Market Evaluation > Apply For a Short Sale > Frequently Asked Questions > View Our Listings > View My SOLD Listings > Search Foreclosures > Find a Buyers Agent
What is a Short Sale? How To Do a Short Sale? Click Here
Click Here: Free CMA - Get My Short Sale Listing Packet
Free Short Sale Listing Service - Call me now:
Tel 773-987-8224 - Tel 847-696-1664
Mówie Po Polsku/ Estoy Aprendiendo Espańol
We have English, Polish or Spanish Speaking Short Sale Attorneys available at no charge to seller.
FAQ - Frequently Asked Short Sale Questions/Answers
MICHAEL SORENSEN - REAL ESTATE BROKER, ABR, SFR, CDPE
#1 AGENT FOR THE #1 RE/MAX IN CHICAGO (2010 & 2009)
#1 in Closed Short Sale Transactions
#1 in Highest Sales Volume
#1 in Commissions Earned
#1 most visited RE/MAX website
RE/MAX PLATINUM CLUB AWARD WINNER 2010 (RANKED IN THE TOP 1%) TOP 25 RE/MAX INDIVIDUALS FOR 2010 & 2009, OUT OF ~2,500 RE/MAX AGENTS - MY SALES AWARDS:
My Short Sale and Foreclosure Certifications:
In Chicagoland, Nobody Sells More Homes Than RE/MAX: http://media.reliancenetwork.com/dynamic/realestate/company/62/ftp/marketshare/Feb_12/C2011-12-Chicagoland-Market-Share-B01-LS.pdf
Sellers. Do You Owe More Than The House is Worth?
Short Sell with me.. Fast - Easy - Free! Sellers Start Here
List with me.. Get a Free Virtual Home Tour
My Showcase Listings Virtual Tours:
5877 Betty Goyd, Hoffman Estates > 
Having sold over 100 properties in the last 3 years, I believe I am a better marketing expert and have a better insight to the Real Estate housing market, than the average agent who sells 3 or 4 homes per year.
Sellers. Before you hire an agent, ask to see their sales record: Here is mine
CDPE - Certified Distressed Property Expert (approved and endorsed by RE/MAX)
SFR - Short Sale and Foreclosure Resource Certified by The National Assoc. of REALTORS
EQUATOR Certified Short Sale Specialist
PROPERTY MARKETING EXPERT - Specializing in Internet Marketing, Web Design, Search Engine Optimization (SEO) and Virtual Home Tour presentations.
I Short Sell Homes worth $75,000 or more with Extremely High Short Sale Approval Rate (9 out of 10 approved!)
We can help you negotiate a short sale regardless if you have missed just 1 or 15 mortgage payments and your property is in advanced foreclosure with auction sale date scheduled, you can still do the short sale!
Big or small.. I sell them all! Serving Chicago and all 7 Counties:
Cook, DuPage, Lake, McHenry, Kane, Kendall and Will.
Click Here - View My SOLD Listings
Click Here - View My Active Listings
Click Here - Free Market Evaluation
I sold more homes in 2010/2009
..than 99% of my competitors.
If my home-selling system didnt work,
..I wouldnt be a Top Producer.
We Offer Free Short Sale MLS Listing including Virtual Home Tours
+ Free Short Sale Negotiations + Free Short Sale Attorney!
No Closing Costs To Seller (Bank pays us)! 9 out of 10 approved!
No Other Chicago RE/MAX Sells More Real Estate Than RE/MAX CITY. We are The #1 RE/MAX Office in the whole Chicagoland area in closed Short Sale transactions including Chicago and all 7 counties: Cook, DuPage, Kane, Kendall, Lake, McHenry and Will (source: MRED 2010).
HAFA Short Sale here: http://makinghomeaffordable.gov/hafa.html
Chicago & Illinois Leading Short Sale Specialist
Serving Chicago & ALL Suburban Chicago, Illinois
Free Short Sale Listing Service
> Request My Short Sale Listing Packet
Why Chicagoland Short Sale Sellers Choose Michael Sorensen Short Sale Group: 90% Short Sale Approval Rate with one lender and 70-80% approved with two or more lenders involved, no cost to seller, no deposit required, no real estate commissions (we will ask the short sale lender to pay the sellers closing costs), seller legal representation included at no charge, credit report will show mortgage as settled or paid as agreed, seller avoids foreclosure. Seller may also qualify for a $3,000 relocation assistance if approved for HAFA Short Sale: http://makinghomeaffordable.gov/hafa.html
SHORT SALE SELLERS - YOU WILL NEVER BE ASKED TO PAY US ANY MONEY or to put a deposit down on any of our Short Sale Service. Realtors Commissions, Sellers Attorney Legal Representation, Short Sale Negotiators, Title Company, and other closing costs are paid by the sellers short sale lender, from the proceeds of the short sale, at closing.
We understand that you are in financial hardship already. There is no charge to the homeowner for any of our short sale service regardless if the deal closes or not. Plus, you have the right to cancel the short sale listing at any time if you are not satisfied with the results. We negotiate our fees directly with your short sale lender and are paid by the lender. Call me for a free 2nd opinion before you list your home with another broker.
Chicago Foreclosures (October 2011):
As of October 2011, there were 18,468 mortgage defaults, pending foreclosures in Chicago, IL (property owners missed 3 or more payments), and 12,403 Bank owned/ REO/ foreclosed properties in Chicago, IL, thats about 20% less compared to Oct. 2010. (Source: Realtytrac.com).
In 2010 in the Chicagoland area, foreclosure filings totaled 80,618. 30,881 in Cook County; 10,646 in DuPage County; 9,041 in Kane County; 2,612 in Kendall County; 11,026 in Lake County; 5,385 in McHenry County and 11,027 in Will County.
What is a Short Sale? A Short Sale is a Pre Foreclosure Workout Solution. Its a Real Estate Sales Transaction contingent upon the successful negotiations with Sellers lender(s), lienholders and/or other third parties to accept a payoff of less than the total amount owed.
CLICK HERE to see a commonly used Short Sale Addendum To Real Estate Contract
Why Banks Do Short Sales? Banks agree to do short sales when a short sale makes more financial sense to bank than foreclosure.
FORECLOSURE: The average loss per Foreclosure (REO) is 65%. That means the investor (note holder) nets only $35,000 on a $100,000 note.
SHORT SALE: The average loss on a Short Sale is 40%. Using the same $100,000 original note example, the investor ends up with $60,000, that is a savings of a 25% of Short Sale versus Foreclosure.
How long does it take to do a Short Sale? - there is no specific answer to this question. Short Sale process can take as little as 2 months or could go for over a year. 5-6 months is the average to complete a real estate short sale transaction: 1-2 months marketing time (finding a buyer), 2-3 months for bank approvals, 4-6 weeks to close the deal. *Attention Wells Fargo/Wachovia Short Sale Sellers, if you have a mortgage from Wachovia and are behind on payments, we will get you the Wachovia Short Sale approval in 7-14 days only! 9 out of 10 approved!
There can be no assurance that your short sale will be approved. Some banks dont do short sales, others may decline short sale or a loan modification and choose foreclosure as a financially better option, especially if they have guaranteed loss protection or are insured against potential loss.
Additional Short Sale info:
www.Chicago-IL-Short-Sale-Foreclosure.com/ShortSale
MICHAEL SORENSEN - Experienced Short Sale Specialist Serving Chicago & Suburban Chicago Short Sale clients. In a Short Sale, I represent the seller, not the bank (the bank is not my client). Your odds are 9 out of 10, or there is a 90% chance your short sale will be approved when you list your property with me. My experience, marketing and pricing strategy is the key!
We have successfully negotiated short sales with virtually all lenders: JP Morgan Chase Bank/ Washington Mutual, Citi Bank/ CitiMortgage, Wells Fargo/ Wachovia, PNC/ National City/ MidAmerica Bank, Bank of America/ Countrywide, Deutsche Bank, 5/3 Fifth Third Bank, Wilshire, US Bank, FHA, PMI, Fannie Mae, Homeq, AHMC, HSBC, EMC ..and many others.
We have partnered with the Best Real Estate Attorneys specializing in short sales and foreclosures. Our lawyers speak English, Polish and Spanish.
Are you behind on mortgage payments?
Do you owe more than the house is worth?
No equity? Facing Foreclosure?
www.Chicago-IL-Short-Sale-Foreclosure.com/ShortSale
Find Out What Your Home is Worth
See My Listings - Click Here
See My Virtual Tours
My Property Finder
View RE/MAX Open Houses
- Chicago Polish Realtor - Illinois Polish speaking real estate agent
- Mowimy po polsku, polski agent, polskie biuro
- Domy w Chicago - Nieruchomosci w Chicago
- Kupno domu, Sprzedaz domow, Darmowa wycena
- Biura Posrednictwo obrotu nieruchomosciami
Areas served: Addison, Arlington Heights, Algonquin, Alsip, Antioch, Aurora, Bannockburn, Barrington, Bartlett, Belvidere, Bensenville, Berwyn, Bloomingdale, Bolingbrook, Buffalo Grove, Bridgeview, Burbank, Burr Ridge, Carol Stream, Carpentersville, Cary, Cicero, Crystal Lake, Deerfield, Deer Park, Des Plaines, Downers Grove, Dundee, Edison Park, Elgin, Elk Grove Village, Elmhurst, Elmwood Park, Evanston, Fox Lake, Forest Glen, Franklin Park, Geneva, Genoa, Glencoe, Glendale Heights, Glenview, Grayslake, Great Lakes, Gurnee, Hainsville, Hampshire, Hanover Park, Harwood Heights, Hawthorn Woods, Highland Park, Hinsdale, Hoffman Estates, Huntley, Ingleside, Inverness, Island Lake, Itasca, Ivanhoe, Irving Park, Jefferson Park, Joliet, Kenilworth, Kildeer, La Grange, Lake Bluff, Lake in the Hills, Lake Forest, Lake Villa, Lakeview, Lake Zurich, Lemont, Libertyville, Lisle, Lincoln Park, Lincolnshire, Lindenhurst, Lombard, Long Grove, Marengo, McHenry, Melrose Park, Morton Grove, Mount Prospect, Mundelein, Niles, Naperville, Norridge, Northbrook, Northfield, North Center, North Chicago, Northlake, Norwood Park, Northshore, O Hare, Oak Brook, Oak Lawn, Oak Park, Old Town, Orland Park, Palatine, Park Ridge, Plainfield, Prairie View, Portage Park, Prospect Heights, Richmond, River Grove, Riverwooods, Rockford, Rogers Park, Rolling Meadows, Rockford, Roselle, Round Lake, Schaumburg, Schiller Park, Skokie, Sleepy Hollow, South Barrington, South Elgin, Spring Grove, Spring Grove, St. Charles, Stone Park, Streamwood, Sugar Grove, Summit, Sycamore, Sugar Grove, Tinley Park, Vernon Hills, Villa Park, Winnetka, Wadsworth, Wauconda, Waukegan, Wayne, Westchester, Wheaton, Wheeling, Willowbrook, Wilmette, Winthrop Harbor, Wonder Lake, Wood Dale, Woodridge, Woodstock, Zion, Illinois.
Addison Short Sale: www.addisonadvantage.org
Algonquin Short Sale: www.algonquin.org
Arlington Heights Short Sale: www.vah.com
Aurora Short Sale: www.aurora.il.us
Bartlett Short Sale: www.village.bartlett.il.us
Barrington Short Sale: www.barrington-il.gov
Bensenville Short Sale: www.bensenville.il.us
Berwyn Short Sale: www.berwyn-il.com
Bloomingdale Short Sale: www.vil.bloomingdale.il.us
Buffalo Grove Short Sale: www.vbg.org
Burr Ridge Short Sale: www.burr-ridge.gov
Chicago Short Sale: www.cityofchicago.org
Carol Stream Short Sale: www.carolstream.org
Crystal Lake Short Sale: www.crystallake.org
Deerfield Short Sale: www.deerfield-il.org
Des Plaines Short Sale: www.desplaines.org
Elgin Short Sale: www.cityofelgin.org
Elmhurst Short Sale: www.elmhurst.org
Evanston Short Sale: www.cityofevanston.org
Elk Grove Village Short Sale: www.elkgrove.com
Elmwood Park Short Sale: www.elmwoodpark.org
Franklin Park Short Sale: www.villageoffranklinpark.com
Fox Lake Short Sale: www.discoverfoxlake.com
Glencoe Short Sale: www.glencoevillage.org
Glendale Heights Short Sale: www.glendaleheights.org
Glenview Short Sale: www.glenview.il.us
Hoffman Estates Short Sale: www.hoffmanestates.com
Hanover Park Short Sale: www.hanoverparkillinois.org
Harwood Heights Short Sale: www.harwoodheights.org
Highland Park Short Sale: www.highlandpark.org
Hinsdale Short Sale: www.villageofhinsdale.org
Huntley Short Sale: www.huntley.il.us
Itasca Short Sale: www.itasca.com
Kenilworth Short Sale: www.villageofkenilworth.org
Kildeer Short Sale: www.kildeervillage.com
Lake Bluff Short Sale: www.lakebluff.org
Lake Forest Short Sale: www.cityoflakeforest.com
Lake Villa Short Sale: www.lake-villa.org
Lake Zurich Short Sale: www.volz.org
Libertyville Short Sale: www.libertyville.com
Lincolnshire Short Sale: www.village.lincolnshire.il.us
Lincolnwood Short Sale: www.lincolnwoodil.org
McHenry Short Sale: www.ci.mchenry.il.us
Melrose Park Short Sale: www.melrosepark.org
Mount Prospect Short Sale: www.mountprospect.org
Morton Grove Short Sale: www.mortongroveil.org
Mundelein Short Sale: www.mundelein.org
Naperville Short Sale: www.naperville.il.us
Norridge Short Sale: www.villageofnorridge.com
Northbrook Short Sale: www.northbrook.il.us
Niles Short Sale: www.vniles.com
Northfield Short Sale: www.northfieldil.org
Oak Park Short Sale: www.oak-park.us
Park Ridge Short Sale: www.parkridge.us
Palatine Short Sale: www.palatine.il.us
Prospect Heights Short Sale: www.prospect-heights.il.us
Roselle Short Sale: www.roselle.il.us
River Forest Short Sale: www.river-forest.us
River Grove Short Sale: www.villageofrivergrove.org
Schaumburg Short Sale: www.ci.schaumburg.il.us
Streamwood Short Sale: www.streamwood.org
Skokie Short Sale: www.skokie.org
Schiller Park Short Sale: www.villageofschillerpark.com
Vernon Hills Short Sale: www.vernonhills.org
Wood Dale Short Sale: www.wooddale.com
Wheeling Short Sale: www.vi.wheeling.il.us
Wilmette Short Sale: www.wilmette.com
Winnetka Short Sale: www.villageofwinnetka.org
Short Sale, Foreclosure Related Terms & Definitions
Short Sale. (Pre Foreclosure Sale, Short Sell, Short Pay Sale)
Definition: Short Sale is a Real Estate Sales transaction where the proceeds of the sale fall short of the property owners outstanding real estate debt obligations (mortgage loans, real estate taxes, etc..).
Mortgage.
A mortgage is a loan to finance the purchase of real estate. Its a legal document that ties a promissory note (to repay the loan) to the property. The owner holds the title to the property but the lender has a lien on it, as a collateral for the loan.
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.
REO.
Definition: Real Estate Owned. Refers to Bank or Corporate owned property aquired through foreclosure. If a property does not sell at the sheriff sale (auction), it goes back to the lender and becomes an REO.
BPO.
Definition: Broker Price Opinion. Its a mini appraisal. Lenders order BPO or property appraisals to establish FMV (Fair Market Value).
Links:
Your City Important Numbers & Links
www.mredllc.com/cityinfo/index.asp
For Landlords - Tenant Verification:
www.tenantverification.com/tvs-fees.php
Landlords. Report bad debts of tenants to all 3 credit bureaus; Experian, TransUnion and Equifax https://www.aoausa.com/SECURE/mrLdebtreportingservice.asp
Norridge Short Sale & Foreclosure update:
www.msorensen.illinoisproperty.com/norridge-short-sale-agent.aspx
Norridge Short Sale Homes For Sale, Norridge Real Estate Foreclosure information
Park Ridge Short Sale & Foreclosure update:
www.msorensen.illinoisproperty.com/park-ridge-short-sale.aspx
Park Ridge Short Sale Homes For Sale, Park Ridge Real Estate, Park Ridge Foreclosure information
Chicago Norwood Park Short Sale & Foreclosure update:
www.msorensen.illinoisproperty.com/norwood-park-short-sale.aspx
Norwood Park Chicago Short Sale Homes For Sale, Norwood Park Chicago Real Estate Foreclosure information
*Information and links contained on this site are provided for informational purposes only and should not be treated as legal advice. Results may vary. Consult an attorney or tax professional for advice regarding your own situation.
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| MICHAEL SORENSEN, RE/MAX City | 7020 W. Higgins Ave, Chicago, IL 60656 | 773-775-0600 | Contact by E-mail |
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