Short Sale Transaction Processing
We will navigate all of the complexities of negotiating a short sale for you and your client.
Short sales are the very most common type of non-retail non-conventional real estate transaction. Basically these serve motivated sellers (people that have to sell, and don't just want to sell) with little or no equity (which are far more common than motivated sellers with equity).
Through short selling the payoff on a sellers mortgage(s) can be negotiated to an amount less that what is currently owed, so the home can be sold at a lower price rather than foreclosed on.
Through short selling, agents and investors can now make money on these transactions and help people facing foreclosure at the same time! Unfortunately, doing a short sale is like completing a very complex tax return - it takes extensive time and paperwork. Now you can OUTSOURCE the effort to us! WE do the work creating an income stream to you, while you focus on building your business and bringing in new business.
Through our service, we help:
- Coordinate with Homeowner
- Analyze the subject property for eligibility into a short sale program
- Set up initial short sale interview between agent, homeowner and investor
- Provide short sale homework package to homeowner
- Collect all paperwork from homeowner for short sale package
- Coordinate with the Lender(s)
- Assemble short sale package and submit to lender(s)
- Make numerous phone calls to lender(s) until short sale package is acknowledged received
- Develop a good working relationship with assigned negotiator
- Arrange with negotiator to have an appraisal, BPO or both performed
- Negotiate with lender(s) the best possible list price
- Secure the Demand and Payoff letter from the lender(s)
- Contact agent with negotiated and approved sales price
A summary of our program for agents and investors is as follows:
|Love Austin Homes Agent SS Program||Love Austin Homes Investor SS Program|
|Target Audience||Austin Agents||Austin Investors|
|Who Generates Paperwork||We Do||We Do|
|Who Generates Listing Agreement(s)||We Do||We Do|
|Who Generates Initial Offer||Supplied by HHH||Supplied by HHH|
|Application Fee (paid by homeowner or agent)||$395, or we pay you a 25% referral||$395, or we pay you a $500 finders fee, or we select the agent|
|Who collects all paperwork||Agent (unless referred)||Investor (unless referred)|
|Who generates short sale doc for lender(s)||We Do||We Do|
|Who negotiates payoffs and subsequest offers||We Do||We Do|
|Completion Fee (Paid by Agent or Lender)||25% commission referral ($500 minimum) - waived if we buy home||25% commission referral ($500 minimum) paid by agent to investor|
|Investor profits if HHH buys/flips house||Kept by HHH||Split between HHH and Investor|
Would you like to know more?
The following resources are available for your consumption:
- Download "Love Austin Homes - Short Sale Guide for Agents"
- Download "Love Austin Homes - Short Sale Guide for Investors"
- Download "Love Austin Homes - Short Sale Guide for Homeowners"
- Download "Love Austin Homes - Short Sale Servicing Brochure"
- How to market for and find short sales
- How to explain short sales to the homeowner
- Popular short sale questions answered
- How to complete the short sale Agent paperwork
- How to complete the short sale investor paperwork
- How to complete the short sale homeowner paperwork
Ready to get started?
Love Austin Homes, LLC. has completed over 1000 short sales - we can certainly help with yours!!!
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