“I’m upside down on my home and need to do a short sale. How do you work with people in my situation?”
Answer:
First, we’ll set up a free phone consultation to determine if you are likely to qualify, and to answer your questions. If that goes well, we’ll give the list of required documents (tax returns, etc.) that we’ll need to submit to your lender. Then we’ll make contact with them to determine if they are willing to look at your “short sale package” before we have a buyer. Some lenders are starting to do this.
Our next step will be listing your property for sale.
After that, we’ll package your documents so they are complete and organized (banks put poor or incomplete packages aside). Then, with or without a contract from a buyer, we’ll submit your package and follow up with them regularly to push them along.
There will likely be several negotiation points in the process: home price, cash contribution requested from you, etc. The process and negotiations must be managed professionally to speed it up and increase the odds of an approval.
That’s the basics of it. Call me at (858)457-KENT if you’d like to do the phone consultation. Thanks…
