Three quick months to a short sale approval with HSBC in Cheshire, CT! - Reid Real Estate Group
September 1, 2017

Three quick months to a short sale approval with HSBC in Cheshire, CT!

HOME SALE CHALLENGE:

An employment relocation forced this Cheshire, CT couple to move out of state, but left them stuck with a home they could not sell due to some significant negative equity. With few options to get out of the home, they decided a short sale was the only realistic solution.

REID REAL ESTATE GROUP APPROACH:

HSBC is one of my favorite lenders to work with, as they are generally quick and predictable and rarely require a lot of financial documentation. Since my sellers had just a single mortgage with HSBC I predicted a smooth quick resolution.

RESULTS:

After just a couple days on market we had a bidding war on the home and a very strong buyer was secured. A short sale package headed to the lender, and as expected HSBC quickly got to work on the approval. Unfortunately, the file got mis-coded by the lender, which took several weeks to resolve. Even with this delay it took just ten weeks for HSBC to deliver an approval and less than two weeks later this Cheshire CT short sale closed! Just three months after first going on market, our home sellers were able to move on with full debt forgiveness, as well as a $3,000 incentive check!

Last Updated on September 13, 2017 by Minna Reid

Minna Reid

Minna Reid is The Broker - Owner of Reid Real Estate Group. Reid Real Estate Group is a full-service Connecticut residential real estate brokerage, specializing in helping homeowners with legal and financial challenges including short sales, probate sales and tax lien complications.

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