Homeowner's Guide to Redding CA Short Sales

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Real Estate Agent with Coldwell Banker C&C Properties

Homeowner's Guide to Redding CA Short Sales

Article by Chris & Maria Jeantet, Short Sale Agents in Redding CA

A huge amount of patience is necessary during the course of a Short Sale process. Whether we are managing a Short Sale in Redding CA or surrounding communities, one thing we know for sure, THERE IS NOTHING 'SHORT' about a Short Sale.

Patience is required on the part of all parties involved AND it is essential to work with an agent that knows what he or she is doing. There's a big difference between promoting yourself as an experienced agent and actually having proven experience to successfully help homeowners who are facing foreclosure!

Below is a snapshot of the life of a short sale in Shasta County:

 

1. Open Escrow

2. Prepare HUD - email to agents

3. Order Title Search

4. Receive buyer prelim - upon receipt, send prelim to agents

5. Review other liens (if any) and taxes, receive updates statements as necessary

6. Revise HUD several times for agents as needed

7. Receive short sale approval letters

8. Update HUD send to agents

9. Update prelim for lender, agents, clients once we have a close date set

10. Review Addendum, needed to update final terms

11. Finalize Escrow Instructions & Pertinent documents according to final terms

12. Order HOA docs only upon short sale approval

13. Obtain signatures

14. Process Financing (taking 35-45 days)

15. Buyer's request or prepare new loan application

16. Buyers obtain loan approval and determine that terms are correct

17. New Lender requests HUD with our fees

18. Receive loan documents or instructions, revise HUD & GFE

19. Request loan docs, can be concurrent with loan documents or separate

20. Lender generates final TIL, we can set final signing appointments (buyer & seller)

21. Submit for Short Sale Final Approval

22. Review file to determine that all conditions have been met and that all documents are correct and available for signature

23. Termite inspection, contingencies released, fire insurance ordered, additional documents, bill of sale etc., have been prepared or waived

24. Signing appointments for buyer & seller

25. Return loan documents

26. Cannot close without final short sale HUD approval

27. Obtain funds from buyer/seller via wire if possible

28. Request Loan funds

29. Receive Loan funds, authorization to record

30. Order recording

31. Close File, prepare statements and disburse funds

32. Complete closing forward final documents to all interested parties (buyer, seller, lender, agents)

33. Final e-mail, fax and Federal Express to complete short sale process

NOTE: If you need help with a Short Sale, don't delay, contact us by phone or email so we can asses your situation and help you determine the best course of action. We are not only trained and certified in managing short sales, we have successfully negotiated a number of short sales throughout Redding, CA and Shasta County. Let's talk. Our contact information is below.

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Chris and Maria Jeantet, "the real estate couple"

EMAIL US maria@ccproperties.com

CALL Chris at (530) 510-0810 or Maria at (530)510-8880

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Arpad Racz 09/23/2011 06:24 AM
Topic:
Home Selling
Location:
California Shasta County Redding
Groups:
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Short Sale REALTORS®
Local Expert
Certified Distressed Property Expert
Tags:
short sale agents
redding ca short sales
cdpe
short sale agent
shasta county short sales

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Rainmaker
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Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA

Chris and Maria:

I am sorry I missed this blog when it was originally published.  This is a very good list for a short sale escrow.  Thanks.

Sep 23, 2011 07:19 AM #1
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Rainmaker
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Chris and Maria Jeantet

Redding CA Real Estate Couple
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