If you have decided that you cannot stay in your home and you would like to consider a short sale then we can help you. However it is important for you to understand that the short sale process is a procedure that can take some time (often around 6 months). Whatever you do, DO NOT MOVE OUT OF YOUR HOUSE. Doing so would be foolish since you would have to pay rent to live somewhere else compared to living in your house for free. In addition to this vacant houses have more danger of being vandalized which could affect our decision to buy your house. And finally there is a possibility that we may be able to buy your house and have you stay in it and pay rent (even if only as a short term solution). So don’t move out of your house until your short sale is finalized and the house is sold.
This is how the short sale process works and what we will need from you:
- We will send you a form to sign which authorizes us to talk to your bank about your mortgage (we cannot negotiate with the bank without this form).
- Once we have a signed authorization to talk to your bank we request a short sale package from your bank and indicate to your bank that we are cash investors and are interested in buying your house.
- We assign a short sale negotiator to work on your file who will be the contact person and will be gathering all of the information from you for the short sale package
- The bank will require many things from your negotiator to complete the short sale package including 2 years of tax returns, a hardship letter, 6 months of bank statements, pictures of the property etc. Your short sale negotiator will let you know about any additional information that the bank requests.
- We will prepare our cash offer and submit it to the bank along with all of the paperwork.
It is important for you to understand that the bank will either accept or reject our offer. It is that simple. Sometimes the bank will counter our offer but you need to know that we cannot guarantee that the bank will agree to sell the house to us for the price that we are willing to pay. However our team of short sale negotiators has successfully Successfully negotiated hundreds of short sales.
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