Man, I am on a roll! Ok, where were we? Oh, yes. The documents you'll need to ensure this is a smooth process.
For each short sale, there will be required paperwork that must be obtained from the seller. Start gathering this information as soon as possible, as lenders WILL NOT consider offers without a FULL short sale package.
See my prior blog "Short Sale Document Checklist" for a full list of what you'll need.
All short sale paperwork MUST come through our office. If you send the offer or package directly to the lenders we cannot quality check it for you to assure that it meets the lender’s guidelines. Therefore, we cannot guarantee it will be reviewed.
If it is sent directly to the lenders without our knowledge or support and you need our help, or the property is foreclosed on, there is nothing that we can do.
If you contact the lender during the negotiation process, this will delay the process and in many cases will cause the lenders to cancel and close the file. They will only allow one main contact on a file at a time to minimize confusion.
All documents should be submitted to Short Sale Connections as soon as possible. Once all documents and an offer have been sent, the time line for the short sale process starts with the lenders. The sooner we obtain this information the better for everyone involved.
Please submit these items at least 3 weeks prior to an auction date to Short Sales Connections or we cannot guarantee lender will delay the foreclosure of the property.
Nick.
Monday, January 5, 2009
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About Nick Shivers
- Nick Shivers
- Lake Oswego, Oregon, United States
- Short sales, foreclosure, and distressed properties specialist, operating out of Oregon, but working with Realtors nation-wide.
Blog Archive
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2009
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January
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- Short Sale Document Checklist
- The Short Sales Process: Illustrated
- The Short Sale Process, Step 1: The Listing
- Instructions: Submitting Offers on Short Sales (ha...
- Short Sales Documents
- Short Sale: Estimated Time Lines
- The Short Sale Process: The Offer
- The Short Sale Process: Negotiation
- The Short Sale Process: The Demand / Approval Lett...
- Who's Who in the Short Sale Process
- Short Sales: Frequently Asked Questions (FAQ)
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January
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