In order for the bank to review a short sale, most banks will require that the property be listed on the MLS (real estate agent)
1. Submit Short Sale Application to Bank(s)
2. Bank will qualify the homeowner, property and transaction
- FHA Mortgage Consideration - First must be reviewed for Loan Modification before Short Sale
o Considerations
- Short Sale is a real estate transaction but needs mortgage lender’s approval
~ “Subject to Lender’s Approval” and “Sold As Is” Clauses are required as part of short sale
- Execution of Contract
~ Make sure that contract goes through Attorney Review and parties follow all the terms of the contract
= Deposits
= Inspection
o Third Party Validation - BPO/Appraisals is a critical aspect of Short Sale Process
o Negotiation
- Short Sale Approvale
- Counteroffer / Decline
~ Submit Value Dispute
~ Work with Bank to get Acceptable Counteroffer
If you are saying to yourself “I need to sell my home or house fast in New Jersey or New York”, we can make you a fair all-cash offer within 24 hours.
Are you in a situation where you are saying to yourself “I need to short sale my house or home in New Jersey or New York” … we can also help you review your options.
We Help Homeowners, Attorneys and Agents in New Jersey and New York close on their short sales. For More Info [ Ссылка ]
If you or your client are facing foreclosure or currently in foreclosure in New Jersey and New York and need help to better understand your options? If you are a homeowner and are already working with a real estate agent or an attorney to try to sell your house by short sale and not making any process, we can expedite the process. We have negotiated and closed hundreds of short sale transactions in New Jersey and New York.
Call us now at 201-297-6965 and we look forward to helping you.
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