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We LISTEN, then we List.
Here are some helpful hints when in
the market for a short sale home:
- Check the public records
- Hire an agent with short sale experience
- Prepare the seller for lender demands
- Submit documentation and purchase offer to lender once the seller has accepted your offer
- Give the lender a deadline to speed up the process and to make sure you will be free to cancel your offer if need be
- Expect commission negotiations
- Reserve the right to conduct inspections
Here are some quick steps to
a successful short sale:
- The seller signs a listing agreement with a real estate agent subject to selling as a short sale with third-party approval
- The agent finds a buyer who makes an offer for less than the amount of the mortgage.
- Seller accepts the buyer's purchase offer.
- Seller's lender accepts the buyer's purchase offer.
- Transaction closes when the buyer delivers the funds, the lender releases the lien and the seller delivers the deed.