1. Make sure
to have a fast response time
To
keep things moving efficiently and to meet strict
deadlines set by banks, homeowners must be responsive and reactive to calls and emails from their
negotiator. Sign all documents and send them back
immediately. Also, make sure to provide requested financial info and any other
documents as quickly as possible. This ensures that
the process continues to move smoothly.
2.
Be ready to move or
vacate your home at a moments’ notice
Many homeowners want to live in the property or continue receiving
rental income right up until closing. Make plans to move well ahead of time.
When the approval letter comes, you may only have 30 days or less to close the
deal. If you can't vacate in time or need an extension, it could easily blow
the deal. Remember what's at stake - a damaging foreclosure is the alternative
(seven years of bad luck and bad credit).
3. Be as
accommodating as possible during showings
Help your agent out. Selling a home is not convenient even under
ideal circumstances, but you need to keep the house clean and be prepared to do
a showing at any time. Remember, buyers are typically not knowledgeable about
short sales, either, which makes them wary about submitting an offer. Don't
complicate things with unaccommodating showing times and a messy home that may
scare off an already reduced pool of buyers.
4. Know that a short sale is a document driven
process
Yes, short sales and the amount of documents that come with it can
be extremely time consuming, but it’s a necessary evil that needs to be done.
As we’ve said, make sure to have documents completed on time. This will ensure
that your short sale moves fast, and closes quickly. Homeowners need to make
sure that every document is completed. Most documents need to be signed
multiple times and need to be dated in other places, so make sure you’ve filled
out every area. The documents should also be legible. If no one can read what
you wrote, they will have to be sent back and re-done, thus prolonging the
process. It helps to send documents in PDF format, as well. This is a format
this is readable on almost any computer.
5. Keep in touch with your Kayser &
Associates, LLC. file manager
It is important to be in contact with your file manager as much as
possible during the short sale process. If you have any concerns, don’t wait! It
is important to get any questions or concerns taken care of as soon as
possible. Remember, file managers welcome phone calls. Our job is to help make your
short sale as easy and stress-free as possible!
The choice of a lawyer is an important decision and should not be based solely upon advertisements.
