Partners in Success: Atlanta GA Sellers & Their Short Sale Specialist

 All successful real estate sales and purchases require a high standard of professionalism and attention to benchmark industry practices and procedures. The best transactions also benefit  from a high degree of cooperation and collaboration between agent and clients.  And nowhere is this cooperation and collaboration more crucial than in the short sale situation.

Short sale is a high stakes game. Sellers are fighting to protect their families and their future credit.  

A successful short sale is successful foreclosure prevention, which usually takes a lot of dedication, persistence and above all skill, in getting the desired outcome....smiles all around the cloisng table.

How the Atlanta GA Short Sale Specialist helps her Sellers.

Because the field has experienced (and continues to experience) so much volatility in recent years, it pays to work with a specialist when pursuing this tricky transaction. A specialist maintains working relationships within the industry  which are able to positively impact the short sale approval process.

She keeps abreast of the nest updates to government and lender initiatives to help upside-down home owners, and the latest policy and guideline changes in the industry and the loss mitigation processes of individual lenders.

Just as there are steps in the short sale that are not a part of  the traditional real estate sale, there are also things that short sale specialists will know to do for their sellers and buyers that the average real estate agent may not even consider.

How Sellers  help the Specialist

Sellers play a major part in the successful short sale, too. That’s why it is important that sellers educate themselves and be prepared to contribute their part from the start.

Once a Georgia home seller has made up their mind that a short sale is the best pre-foreclosure solution for their situation, what happens next? Let’s take it step-by-step and look at what each partner may need to do to ensure a successful and smooth short sale transaction, from the first call to the closing table.

The first steps are the sellers’.

• Having done their  pre-foreclosure homework, sellers carefully consider their options and then made a choice to take action.
• They call their lender and let them know they can no longer afford the mortgage payments need to short sell.
• They ask the lender to provide their payoff statement and their short sale package, which contains all of the information and instructions for submitting a short sale offer.
• Then they get their home on the market by engaging the help of a real estate agent who is able not only to market the home but also assist with the short sale negotiations.

That’s where a specialist steps in.

A specialist will know the extras steps to get this complicated deal done. Nothing really happens in a short sale negotiation until you have a purchase and sale offer on the table. But that is just the beginning of a long and document-intensive approval process.

• Most lenders still prefer to liaison with the short sale specialist real estate agent who  speaks the language of loss mitigation and knows the general and specific processes from lender to lender.
• So, in addition to all of the analysis, listing, marketing and selling activities an agent ordinarily performs in a traditional real estate sale, the short sale specialist has  many added responsibilities and steps that must be completed.
• She works with the sellers and also the buyer’s agent, buyer’s lender and closing agents to coordinate, gather and submit the personal and financial documentation required from all parties to the transaction. Lenders these days require the listing agent to distribute, collect, review and submit various signed authorizations, acknowledgments and affidavits from all parties and their agents, their closings agents, and the new lenders.
• Document submission often requires specialized expertise using complicated online platforms and messaging systems, such as Equator.com or Resnet.com.   
• She asisst her sellers in dertemining eligibility to receive cash incentives and other short sale assistance offered through the Making Home Affordable intitiatives, and through private lender programs.
• She works with the sellers’ lender to compile comparable market data and analyses, and to record and submit showing and pricing history, and provide any other documentation needed to make the short sale determination.
• And through all this she of course continues to be her clients’ trusted adviser and real estate advocate, as they make decisions and face the challenges together every step of the way.

 A successful short sale partnership that follows a model like this one can help Atlanta Georgia short sellers navigate the rough seas of a complicated and sometimes fortitude-testing transaction.