Our Proven Short Sale Process Will Work for You
By working with me as your short sale Realtor, you can rest assured that our approach and handling of your short sale will be done with utmost efficiency and integrity. Our winning process is based on years of experience and dozens of successfully negotiated short sales.
Unlike that of most short sale Realtors, our focus is on preparation and research rather than the Ready-Fire-Aim approach employed by many other agents in this industry. After all, it is our clients’ financial future that is at stake.
Continue reading to learn a great deal about our proven short sale process, and contact us today to find out how your Maryland Short Sale Expert can help you with your short sale.
Our 11-Step Process To A Successful Short Sale
- Initial phone consultation to get a top level understanding of client’s situation
- Prospective client is pre-qualified for a short sale by our short sale team
- We meet to discuss options and to answer questions
- Property is listed and marketed to prospective short sale buyers
- Buyers submit offers on your short sale
- Buyers and seller negotiate the offer resulting in contract acceptance
- Short sale package is submitted to your lender(s) by our in-house loss mitigation company – Atlas Loss Mitigation, LLC (Maryland Credit Service Business, DLLR License #44)
- Short sale facilitation is conducted with your lender(s) in regard to pay off(s) and deficiency judgements
- Short sale approval letter received for each outstanding mortgage
- Buyer’s financing process begins
- Closing takes place
Our short sale process always starts with a phone interview. Our goal as short sale specialists is first to understand and then to help.
We will ask our clients to describe their financial and personal difficulties as they relate to their home and will provide answers to some of the common questions about short sales.
By asking some simple questions about the short sale seller’s situation and the property, we can pre-qualify our prospective clients for a short sale.
We understand what it is that the lenders will be looking for, and can make sure that the short sale seller meets the various guidelines and qualifications BEFORE beginning the short sale process.
The information we gather also gives us a better look into the situation and allows us to provide better feedback to our clients. Sometimes a short sale is the right solution. Sometimes it is not. The data gathering phase of our process allows us to determine the next step.
If our clients decide to move forward with the short sale, we meet to discuss the rest of the process involved in a successful short sale transaction. The meeting also allows our clients to get to know our team and for us to get to know more about our clients.
Our aggressive marketing and pricing techniques contribute to our success rate and are an integral part of our proven short sale process.
Our short sales appear on hundreds of websites with numerous pictures and catchy descriptions. Today’s buyers are looking for good properties and great deals. Our team makes sure that our clients’ short sale properties are easily found.
The most important factor in proper listing strategy is the price. We do our best to price our short sale correctly from the start, and if the market moves quickly, we adjust the prices to balance it out.
Not all short sale realtors are created equal. The same concept applies to short sale buyers. Just like in a traditional sale process, it is essential to make sure that the buyer is qualified and is truly interested in going through with the transaction.
When it comes to the short sale process, additional factors need to be incorporated. In addition to state required forms, we need to make sure that our clients are protected with an AS IS addendum as well as with a Short Sale Addendum to the contract of sale.
Our team of short sale experts will set proper expectations in place with the buyers and their agents to make sure that everyone is on the same page regarding the duration of the process.
Once all the relevant terms of the offer are discussed and agreed upon, the buyer and seller enter into a contract of sale and we move on to the next phase of our short sale process.
Submitting an all-encompassing short sale package to the seller’s lender(s) is a critical step in the progression of a short sale. Most short sale packages are at least 100 pages long and include the contract of sale, preliminary HUD-1, property CMA, sellers’ financial information, and many other supporting documents. This critical step influences how quick the lenders will review the file.
If a short sale agent fails to provide the right information in the package, the file can be rejected or worse – sit on a processor’s desk for a month before anyone is notified that needed documents are missing.
For our clients, this is most likely the most important and financially influential part of our short sale process. Our licensed loss mitigation partner (Atlas Loss Mitigation, LLC) will gather the options provided by the lenders and will present them to our clients.
Our team of short sale experts will assist you with making the right decision.
Once each lien holder approves the discounted pay off and our clients agree to the terms and conditions of each short sale approval, the biggest hurdle in the short sale process is passed and the light at the end of the tunnel can be seen.
Now it is time for the short sale buyers to fulfill their obligations. We will now oversee the buyer’s financing process and make sure that inspections, appraisals, and other activities are completed in a timely fashion in order to ensure a smooth conclusion to the process.
Although the short sale is completed, our job as expert short sale realtors does not stop. We are here for our clients to support them with any post-closing matters.
If needed, we can put our clients in touch with right legal and tax professionals to answer any of their questions. Most importantly, our team of short sale specialists is here for you when you need us, with answers to any short sale and real estate related questions, the day after the settlement and beyond!
You Need a Specialist in the Maryland Short Sale Process
Throughout the whole process, we are always available to provide you with updates and to answer your questions in a timely manner. At all times, we’re only a phone call or an email away. We are the short sale experts you can trust and count on.
Contact us today to learn how our expert team of short sale Realtors can make the short sale process work for you.