It is unfortunate but short sales have become a part of 2 out of every 4 homeowners life. A short sale is the process in which the lender or lenders that hold the lien on a property agrees to accept less than the full amount owed on a property by the homeowner.

Our involvement during the processing/approval phase is limited to the following services:

• Short sale preparation and setup short sale file. 
• Gather information on the status of the seller's default.
• Collect all Initial short sale documentation required to start the short sale process.
• Collect all broker and state required forms.
• Order seller appraisal or BPO.
• Order home inspection (if applicable).
• Work with Title companies to produce estimated HUD-1.
• Input listing on the MLS.
• Make initial contact with lender(s).
• Acquire short payoff agreement letter(s).
• Submit short sale packet to the lender(s) with required documentations.
• Persistently follow-up with lenders to move file through their system.
• Communicate with the buyer agent and seller on a weekly basis.
• Initiate the short sale negotiation and facilitate short sale negotiations.
• Submit final/updated documents to the lender(s) as needed.   

A Short Sale allows the homeowner to sell the property for its current market value or less than what it is worth in today's market. Many homeowners try to avoid foreclosure so they opt for a Short Sale. But, many do not understand that the process is NOT SHORT and it can take the lender(s) anywhere between 30 days and 16 months to approve a short sale.