I am a Short Sale Specialist, serving all of Tampa Bay!
http://www.alyssasellsflorida.com/
813-777-7343
What causes a Short Sale Hiccup?
Many things can cause a short sale to be delayed or stalled. My experience has been that there are two major factors in a Short Sales success or failure.
#1 The Real Estate Agent. It is very important that the real estate professional have experience in short sales and knows the ins and outs of them....even if they have hired a 3rd party to negotiate the sale. A FULL short sale package should be submitted promptly to the short sale lender upon receiving an offer.
#2 The Seller/Homeowner. It is also very important that the homeowner be very responsive to the requests of the real estate agent and/or short sale lender. If documents are requested they should be collected within a matter of days not weeks.
Key Points:
- A short sale is only possible with the full cooperation of the homeowner.
- Submitting a full short sale package to the short sale lender the first time is the quickest way to get your short sale SOLD.
- Follow-up, Follow-up, Follow-up
- Meet lender timelines in submitting follow up documentation
- Meeting the BPO agent at the property with a Market Analysis and Repair List (if necessary)
- Working with the Title Company, Attorneys, HOA, Cooperating Brokers, and all lien holders to get payoffs that are mutually agreeable to all parties
- Following up immediately with Buyer once written approvals have been issued by lenders.
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