Top 5 Ways for Homeowners to Have an Efficient Short Sale

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!  

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