Real Estate Agents and Short Sales in Today's Market

Why should real estate professionals work with short sales?

Real Estate agents should put working with short sales in their portfolio because it allows them to really help people out of an emotionally stressed situation. The more properties sell, the more people work - it's that simple.  Revenue and business is generated.  The real estate agent works, the mortgage lender, the title rep, the processing agent, home improvement and inspection professionals, etc. 

Second, it is a good way to get salable listings each year, build and investor pipeline and avoid REO hassles.  Truly, though, there is nothing quite like helping a client who feels overwhelmed and distraught find their way out of a bad position.  After all, isn't helping people what we are all here to do? 

Are short sales important in today's market?

The economy and the real estate market is going through a tough time right now and this is one of the only ways most distressed homeowners can rebuild their lives and more beyond their mortgage troubles without the devastation of foreclosure and totally messing up there credit!

FOR REALTORS WHO WANT TO DO THEIR OWN NEGOTIATIONS BUT NOT PAPERWORK

SHORT SALE PROCESSING

How much is your time worth?  Are you a Real Estate Agent tired of handling paperwork and the lenders?   If so, we can help.  

There are many companies offering negotiation services to Agents, but what if you want to do the negotiations?  What about all the dreadful paperwork?  Lenders are interested in working with the homeowners Listing Agents and why blame them.  We too believe listing Agents should be more involved in the negotiation process!   Here's where we come in!  We'll process the paperwork for you. 

A short sale package can have as many as 30 to 100 pages.  

Short sales involve a tedious process of gathering documents, following up with homeowners and preparing paperwork to submit to the lender for approval. 

ABOUT US

We are a staff of professional loan modification and  short sale negotiators, processors, buyers and mentors.  We know first hand the importance of short sale processing.  After negotiating many short sales of our own, we've expanded our short sale operations to Real Estate nationwide.

We are familiar with lender guidelines and processes.  Not only is negotiating a short sale important but how the offer is presented is important as well.  

Lenders know us for complete and well organized short sale packets.  We have had packets accepted within 7 days of receipt and negotiations complete in as little as 2 weeks.

OUR SERVICE

    1.  Handle all short sale clients
    2.  Provide professional, complete and timely short sale packets
    3.  Maintain web-based notes and status' to retrieve at your convenience
    4.  Work closely to collect and prepare all necessary short sale documents
    6.  Manage the short sale packet through to closing

In addition, we will negotiate a short sale offer with the foreclosing lender if preferred. 

You'll know how good we're doing because you're clients will keep you informed.
 

OUR PROCESSING TIME

Sometimes homeowner delays occur but our general processing period is no more than two weeks. If there is a buyer involved, the case is escalated to TOP PRIORITY status and processed within a few days. 

PROCESSING FEES

An advance processing fee is billed to the client.  The value of this service may vary but range from $250.00 to $600.00 per case. If we are also negotiating the short sale, this fee is refundable upon the close of escrow. 

Negotiation services are provided at no cost to the homeowner.  Our fee is included on the HUD and paid for by the foreclosing lender

FOR REALTORS WHO DON'T WANT TO DO PAPERWORK NOR NEGOTIATIONS
                                                                          SHORT SALE NEGOTIATORS

We are 97% successful in obtaining official short sale approvals for our clients. 

Are you a Realtor in need of a Professional Loss Mitigation Specialist to negotiate your Washington, DC; Maryland; or Virginia Short Sale Listings.  You've come to the right place.      
                                                                                        Use the current market conditions to your advantage. Short Sales are tedious and  time consuming and worse off, they can take months to complete. We work with Realtors and their clients by taking over this headache. We don’t want your short sale listings, We want to coordinate, prepare, manage and negotiate them. You concentrate on what you do best; obtain the listings.  

Create Hardship Package- All lenders require proof of financial hardship before any negotiating will be considered.  How well this is prepared will dictate the willingness of the lender to negotiate.  Many times  a lender will work with a professional experienced company before working with an individual.

Negotiate Short Sale- This is a very time consuming procedure that demands the highest level of expert negotiations to be successful.  We have completed many of these transactions and are quite good at what we do. 

General Short Sale Negotiation and Processing Procedures

Short sale submissions

The agent shall submit the potential short sale listings information via the Short Sale Analysis form and fax it to 1-800-864-8655.  After the information has been submitted,  a case file is opened and the case is assigned to a processor.  A short sale packet is created and submitted to the agent within 24 hours to have completed with the homeowner along with the listing.  

Short Sale Packets

Once the short sale packet has been completed by the homeowner, it should be either faxed to 1-800-864-8655 or emailed to info@homeallianceusa.com. This packet should be completed and submitted to us prior to any short sale offer being received.  

Short Sale Tracking

Once a case file is opened and assigned to a processor, a tracking order is submitted to the agent for access to statuses on the case.  The tracking system is much like an intranet where files are shared between the processor, agent/broker, agent clients (if desired) and the negotiator to enter notes and case status.  Access is open 24/7.

General short sale process with the Lender

Once the short sale packet and offer have been processed by our office,  it will be faxed to the lender.  A follow up call is made within 48 hours to ensure the lender has received the file and to discuss the offer if needed.  At this point, the lender will inform us of their processing time and our office will follow up accordingly.   In any case, we usually will follow up each Mon-Wed-Fri to check the status of the case.  Processes will vary per lender. 

Once a Loss Mitigation Specialist with the lender has been assigned to the case and has made contact with us, we will keep the listing agent/broker informed of the lenders position on the offer.   
 

Once the short sale is approved, unless otherwise preferred, the negotiator will handle the closing with the closing agent, foreclosing lender and new lender (if applicable) accordingly.  

Loss Mitigation Fees

"Paid By The Lender not by YOU"

Our Loss Mitigation fees are valued as follows

$1,250.00 for first liens ......  plus

$   600.00 if there is a second lien (lender is the same as the first)

$1,250.00 if there is a second lien (lender is different than the first)

$  700.00 if a 2^nd is purchase money (California) 

$1,250.00 if there is PMI

If you would be interested in our short sale processing and negotiation services, please call us1-800-864-5440.