A “short sale” is an agreement with your lender to accept less money than they’re owed as full payment for your loan. This solution often makes sense when you owe more than the property is currently worth. Basically, you have no time or equity to sell your home traditionally because you cannot afford to pay a Realtor and cover your closing costs!

Why Use us to do a Short Sale?

We provide solutions for homeowners in foreclosure across the board. However, we specialize in short sales. We can assure you that our representatives are on top of your lender every step of the way. We will work with the bank to get a lower pay off on your loan approved. This benefits the bank because it saves them from having to go through the expensive and time-consuming process of a foreclosure. Further, it helps you save your credit from having a foreclosure, which is usually scored worse than a bankruptcy. Our relationship with the banks and lending institutions, as well as our years of experience in negotiations, provides you with the expertise necessary to get a successful result for you.

We have a higher than average success rate in short sales because we believe that to be successful, any endeavor must have unity amongst everyone involved. Our team of professionals will continually keep you up-to-date on the progress on your case. We also guarantee the privacy of your personal information.

Does My House Qualify?

If you are behind on payments, can show a financial hardship, owe your lender(s) as much or more than your house is worth, then you possible could qualify for a short sale. So, Its That Easy? Well, sort of! Short sales are very difficult and time consuming. They require a lot of negotiating skills as well as patience. You also have to be an investor or a Realtor to negotiate a short sale. Lenders find it difficult to work directly with the homeowner because they are already “on the hook” for the amount they owe. Why negotiate when they don’t have to! Also, you would have to have all cash to buy the home after the discount…cash you probably don’t have. Here are the steps to a short sale:

You have to first contact us to see if you qualify.

Once qualified, we gather all the necessary documentation to build a short sale file.

Then we begin negotiations with your lender(s) to discount the loan.

Once approved, we purchase your home, or have a buyer ready to purchase your home.

Unfortunately, as part of the short sale agreement, the lender prohibits you from receiving any “sales proceeds.” In other words, we cannot give you any money for your house. However, we can give you the peace of mind knowing that we are working in your best interest. There are other rules that you must understand that come along with a short sale. Please request a Free Consultation learn more about short sales and other options you might have.

The Short Sale Package

All of the documentation needed to start a short sale is commonly called a "Short Sale Package" and is usually submitted by the investor interested in the property, the agent representing the seller, or the seller of the property. The package usually includes the following items:

Sample Short Sale Package (items may vary depending upon the lender)

• Cover Letter
• Authorization to Release Information
• Sellers Hardship Letter
• Seller’s Financial information
• 2 years w2’s
• 2 months pay stubs
• 2 months bank statements
• Supporting Hardship Info – HOA liens, medical/disability statements etc.
• Repair Estimate for the property
• Comparable sales for the property
• Contract
• Net Sheet
• First mortgage holder may ask for a payoff amount from the 2nd
• Second mortgage holder may ask for a payoff amount from the 1st
• Lender may ask for an Initial Title Report
• FHA and VA may have their own forms and special requirements as well