Benefits for Sellers
Don’t be fooled by the term “short sale” – there is nothing “short” about it. But, experience makes the difference between a successful short sale negotiation and a long drawn out process where everyone suffers. As a seller, your goal is to have your offer accepted in a timely manner. When a short sale drags on and on, the property may lose value, the buyer may walk or a foreclosure may occur.Partnering with our experienced team of experts is the best move you can make to increase your probability for success and decrease the level of stress you endure through the short sale process.
Qualifications for a Short Sale
A short sale occurs when a lender agrees to accept less than what they are owed on the property to allow a sale of the property to be completed. Short sales generally occur when the owners of the property are unable to make their payments for some reason and a foreclosure of the property is likely to occur in the future.
Contrary to popular belief, it is not difficult to quality for a Short Sale. If you owe more on your home than it is currently worth and are behind in your payments or anticipate having trouble making your payments, you may qualify for a short sale. In many cases, you may qualify for a short sale even if you are not yet behind on your payments.
Typically, candidates for a short sale are experiencing one or more of the following circumstances:
- An unexpected hardship such as drop in income, loss of job, divorce, illness or other unanticipated situation that prevents you from making your mortgage payment.
- A need or desire to sell your home due to a job transfer, health concerns, planned retirement or other life event.
- The decision that continuing to own your home is not a sound business or financial decision.
How The Service Firm Can Help
Our focus is on helping you in three core areas – getting approval, minimizing the timeline and delivering the best terms possible for your acceptance.
Approval – Our promise to you is to deliver a complete package to your lender’s exact specifications and relentlessly follow up until we gain approval. We will stay on top of all the details and maintain consistent communication with every party – buyer, seller and agents.
Timeline – While it is impossible to predict exactly how long it will take to get a short sale approved, there are many factors that can be managed to shorten the timeline. Completed paperwork, compliance with lender requirements, detailed back-up and persistent communication goes a long way in getting an answer.
Terms – Although we cannot guarantee what your lender will offer, we will fight for the best possible terms for you including release of lien, avoidance of deficiency judgment, settlement of additional liens and overall minimum post-sale consequences for the seller.
Remember, in the current market, lenders are overwhelmed with short sale offers. Out of necessity, some files are going to take priority over others. When we submit a package to a lender, it will be looked at because the lender knows it will be accurate, complete and legitimate. The lender also knows we will follow up! We will make sure your file is not shoved aside or put at the bottom of the pile.
The Service Firm Advantage
- Intense understanding of lender requirements and processes
- Existing professional network of lender contacts
- Extensive experience and successful track record
- Creative strategies to produce best terms for sellers
- Tenacity to stand up for you
- Exclusive focus on short sales
- No seller fees
- Attention to detail
- Sense of urgency
- Proactive and timely communication
Simplify Your Short Sale Now
We’re here to help – contact us now or recommend us to your realtor. The Service Firm: Where service makes the difference.
