Step #1: Contact us immediately by phone or email so that we can discuss your unique situation to make sure you understand ALL of your options at this time and which option is BEST for you and your family.
Step #2: Gather all required documentation needed to complete your short sale package by following this detailed checklist. We will generate all listing contracts, lender-specific forms, and authorizations for you to sign during this time period. The homeowner can either email, fax, mail, or drop off all of these documents once everything has been collected and signed.
Step #3: The house is discretely placed on the market and viewings of the home will be scheduled for potential buyers. A home is typically viewed in no more than 10-15 minutes, and is always held with a licensed CA Real Estate Agent. These viewings can be scheduled with the homeowner, but the homeowner does not need be present at the property. This is predetermined between you and the agent before the house goes on the market. We typically get acceptable offers within 2-3 weeks of a house being listed. We’ve received acceptable offers in as little as 24 hours after the property was listed on the MLS!
Step #4: Once an acceptable offer is received, the offer is submitted to your lender along with the complete short sale package. We then follow up with the bank, collect all trailing documents they may request, and ensure that the file moves along as efficiently as possible. This process usually takes about 2 to 3 months, and during this time we will begin to help you and your family find a great new place to live.
Step #5: Once the approval is received from your lender, escrow will officially open. This escrow period can range from 30 to 60 days and you will always know your pre-determined closing date. It is during this escrow period that you must find a new place to live as it is necessary to move-out before the final week of the escrow.
We always do our very best to accommodate our clients with a customized timeline depending on their unique scenarios. Some clients want a fast transaction in order to enjoy a fresh-start as soon as possible, while others strategically need a long, drawn-out transaction in order to save much needed funds. Regardless of when you start the process, a short sale is typically completed within 4 to 6 months following the steps mentioned above.
Call (877) 728-5942 or email us at SFFinancial@hotmail.com
Filed under: ShortSaleSolutions
