Mark Lentz Real estate serving Tamarac FL
  1. Mark Lentz
  2. Complete Real Estate Options
  3. Guiding You Through The Real Estate Maze
  4. Office: 954.300.5633
  5. marklentz@completereo.net

What Is The Short Sale Process?

 

The short sale process is more complicated than the conventional home sale process. There are a number of specific issues related to this type of transaction that aren’t common knowledge for most real estate agents. Therefore, if you’re a seller looking to “short sale” your home you need a real estate agent who knows the process, it’s not something just any old agent has the knowledge to do.

 

The first step is to list your home with us. Most agents don't know that. The lender will not start the short sale process until you have the home listed. 

 

The next step is informing your lender that you intend to sell your home and most likely it will be for less then what you owe. There will be a package that has to be filled out and sent back to them. If you qualify for a short sale they will agree to you selling your property below what is owed.

 

The home is listed and buyers come and look at it. Once a reasonable offer is presented to you, and you accept it, that offer will be sent to the lender. They also have to approve the sale. Understand that the goal is to get a buyer to make an offer close to "market value" not for what you owe on it.

 

Getting an offer that is acceptable to the seller, buyer, and lender is time consuming, but, in most cases, is the easy part. Once there is an acceptance it will be send to the title company to be closed.  Again, because it is a short sale that process is more complicated than the conventional closing. Many things can (and will) get in the way of closing the home.

 

Complete Real Estate Options has a dedicated pre-closer who works to get all closing problems solved.

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