Initial Phone Consultation
Our Pennsylvania short sale process starts with a quick phone interview. The purpose of this conversation is to first understand how we can help.
The conversation will be to discuss your struggle with your mortgage and to provide answers to some of the common questions about short sales.
Prospective Client Needs To Be Pre-Qualified For A Short Sale
By asking some simple questions about the short sale seller's situation, we can pre-qualify our clients for a short sale.
We know what lenders look for and we can make sure that the short sale seller meets the guidelines and qualifications BEFORE beginning the short sale process.
All of this information that we collect will also give us a clearer picture of your situation so that we can assist you down the correct path. Please note that sometimes a short sale is not the right decision and we are here to help with either option.
If you decide that a short sale is the right solution for you, we will need to discuss the rest of the process involved for a successful short sale. The meeting will also allow you to get to meet with our team and for us to get to know you.
Property Is Listed And Marketed
Our markting and pricing plan contribute to our high success rate and is the integral part of our proven short sale process.
Our short sales are marketed on over 350 websites with many pictures and full descriptions. Buyers are always looking for homes that are great deals and it is our job for them to know where they are. We make sure that our short sale properties are easily found.
Please know that when selling a short sale, price is the most important factor. We do our best to price our short sale's correctly in the beginning so that the wait time for it to sell is small.
Buyer Submit Offer On Your Pennsylvania Short Sale
Not all realtors who sell short sales are created equal. The same concept applies to short sale buyers. It is important to make sure that the buyer is qualified and is prepared to go through with the short sale process.
With the short sale process, other factors need to be included. Beside the standard Pennsylvania Agreement of Sale and the standard state forms, we need to ensure that the Agreement of Sale is filled out to our specifications. One of the important clauses in the form is the "AS IS" addendum, as well as the CDPE Short Sale addendum.
It is the job of the Short Sale listing agent to set the proper expectations in place with the buyers and their agents and to prepare them for the length of the process.
Pennsylvania Agreement of Sale is accepted
Once all of the terms are agreed on by the seller and buyer the offer is signed and executed no other offers can be entertained any further. In Pennsylvania only one executed short sale agreement of sale can be presented to the bank. After it goes under contract the status of your home will shift to the status of "Under Contract" and showings will stop.
Submitting the short sale package to the bank
Submitting a complete short sale package is crucial at this time to ensure progression of your Pennsylvania short sale. Most packages are of at least 100 pages long and include the contract of sale, sellers' financial information, settlement statement, as well as many other supporting documents. This step is critical and influences how quick the lenders will review the file.
Pennsylvania Short Sale Approval Letter
As soon as the lien holder approves the price and you agree to the terms and conditions we can schedule the closing. The biggest hurdle of the short sale process is passed and you will soon move forward with your life.
Closing Your Pennsylvania Short Sale
Closing normally is simple but during the closing your mortgage company has to approve the final settlement notice and all charges on the sheet. Short sale closings normally are a bit longer since we wait on two mortgage companies (buyer and seller) to give a final approval.
Hire A Pennsylavania Short Sale Specialist
During, the whole process of the Pennsylvania short sale our team is always available to you to provide updates and to answer all your questions in a timely manner. We are always only either an email or phone call away. We are the Pennsylvania short sale experts you can trust and count on.
Start now and learn how our expert team of short sale Realtors can help. Simply fill out the form below.