Reason 2 For A Short Sale Fail

Reason 2 For A Short Sale Fail

2) Not knowing the specific lender’s short sale process.

On average, the bank’s short sale negotiator has over 1,000 short sale transactions that they are processing at any given time. And each lender’s process is different. If you don’t follow the lender’s specific process or there is an error in the paperwork or you’re missing a form, it all comes to a halt. Your file gets set aside until the issues can be resolved. And unless your agent calls, it can be weeks before you are even aware that there is a problem. (We have a dedicated staff that follows up with lenders daily to make sure the process is moving forward.) The short sale transaction that closes, and closes quickly, is the one where everything is done right the first time.

Tami Pocevic Headshot
Phone: 941-408-0600
Dated: May 8th 2014
Views: 1,345
About Tami: Tami has been a licensed real estate agent for over 12 years. She currently resides in Venice and e...

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