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Short Sale Guide
Having a short sale guide or processor in your corner can prove to be invaluable on challenging short sale transactions. From strategically structuring the deal at the beginning, watching out for any pitfalls based on investor guidelines, and getting all documents into the lien holders in a quick and efficient manner, will increase the chances of the transactions success in an appropriate time frame.
Short sales can be broken down into a few basic parts.
1.) Research title report and prepare transaction based on lien holder / investor guidelines
2.) Listing the home and short sale package preparation.
3.) Document Submission
4.) Procured offer and document submission.
5.) Document Review
6.) Valuation Stage
7.) Counter Stage
8.) Negotiation Review Stage and Submission for Approval Review.
This is a very basic overview of the mains steps of a short sale, but there are man details in between. Remember, short sales are not short and most lien holders quote 45-90 days for a review once they have a complete package.
If you need short sale help or have questions, please fill out the form below or call 1-800-692-9960 and a specialist will be in touch with you shortly.