Steps to a Successful Short Sale

 

 

1. Contact us:  The first step in the short sale process is to hire a Realtor to represent you in selling your property and negotiating with your lender .  We will meet with you to preview your property, discuss your particular circumstance, and offer different strategies as how to best proceed.

2. We contact your lender on your behalf to determine your lenders requirements.

3. We list your property for sale.  Getting a good price and a good buyer helps ensure that your lender will approve the short sale request.   We will advertise and market your property, conduct an open house and interface with prospective buyers and their real estate agents.

4. A buyer interested in purchasing your home, may write an offer to purchase, which you may accept contingent upon your mortgage lender’s short sale approval.

5. Once we receive an offer, we will prepare a short sale package for submission  to your lender. 
A short sale package generally includes information about you, your financial situation, your property, and your sales transaction.  Your lender may require a hardship letter explaining the reasons your are unable or unwilling to repay your mortgage loan.  We may have to obtain short sale approval from other creditors with a security interest in the property you are selling, such as second trust deeds.  After we’ve submitted your short sale request, the lender’s response generally takes many weeks to many months. 

6. Once we receive approval, we will contact the escrow company.  The property will be appraised and inspections may be performed .  Towards the end of the transaction, you will generally go to the escrow office to transfer title of the property to the buyer. In the meantime, the buyer goes into escrow to deliver funds for the down payment and closing costs and signs loan documents for the funding of the buyers loan if any.  The sale is consummated, possession of the property is transferred and the escrow officer disburses all the funds accordingly.

7. The Short Sale is complete.

BOB STEEL & LEAH CLARK

Short Sale Steps

WE DO IT PERSONALLY AND WE DO IT RIGHT!!!

 

AND…. WE DON’T CHARGE BUYERS OR SELLERS ADDITIONAL TRANSACTION FEES !!!

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“We Can Sell Your Home !!!”


Call, Fax or Email us at:
Bob Steel (209) 609-2635

Leah Clark (209) 679-3333

Fax (888) 544-4543

BobandLeah@att.net

 

 

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