Short Sale Milestones
Re Property:
Generate Leads Generate Leads
Your Job Our Job x
Date Completed
How We Help You Attend breakthrough event Work with a CSSM Read service manual Attend breakthrough event Use our candidate guidelines Call candidate evaluation Work with a CSSM Read service manual Attend breakthrough event Work with a CSSM Read service manual Attend breakthrough event Use our forms Work with a CSSM
Pre-screen candidate and identify exit strategy
x
Manage Seller's expectation
x
Collect the paperwork & sign up your candidate
x
Submit your short sale service order - send us the information
x
Identify settlement agent Identify funding source
x x
Read service manual Attend breakthrough event Work with a CSSM Attend breakthrough event Call customer care Attend breakthrough event Call customer care Use funding assistance
Short Sale Milestones
Confirm no bankruptcy Determination that all information is complete Preliminary title ordered Preliminary short sale request and authorization sent to lender Confirm authorization received by lender Negotiator review First call to key holder
x
x x x x x x x
You get confirmation from Seller We verify through PACER We will let you know if we believe additional supporting documentation or information is required to be successful for you If you request that we order title for you, we will handle the title order Immediately upon CWP determination, we send a preliminary short sale request together with the authorization to the lender We then follow up to make sure the lender has received the authorization Our negotiator reviews the file to add any lender specific/historical knowledge to the preliminary analysis. Our negotiator reviews strategy with you We review title for the sole purpose of determining whether or not we are negotiating the correct number of liens as stated on your service order to protect you from pursuing a short sale on incorrect information We prepare the "net sheet" or HUD and present information to support the argument Our negotiator prepares the short sale offer package and sends to lender. We make sure the short sale offer went to the correct place and is being reviewed by the appropriate parties at the lender We obtain an early feel for the lender's opinion of the offer
Preliminary title review
x
Prepare HUD-1 settlement statement (or "net sheet") Prepare short sale package and submit to lender Confirm short sale package has been received by lender First call with lender
x x x x
Short Sale Milestones
Schedule the BPO or appraisal
x
Attend the BPO or appraisal
x
We work with lender and BPO agent to first get authorization for the BPO (a major victory in moving the negotiation forward) and then undertake the logistical steps to help you schedule the actual BPO Read service manual Attend breakthrough event We send you "BPO Preparation Instructions" Work with a CSSM The next several steps may appear simple, but occur over long periods of time. While we are working with the lender, the most important thing we do for you is allow you the freedom to go find your next deal. We get additional negotiation information by following up on the results of the BPO We then enter the process of back and forth with the lender to arrive at the best possible outcome for you. The negotiation process largely ends when we get the final demand from the lender in writing Read service manual Attend breakthrough event Call settlement assistance Work with a CSSM Obtain and submit testimonial statement from seller Complete service evaluation form
Go find your next deal
x
Follow up and get results of BPO Negotiate with lender Obtain approval letter
x x x
Closing or settlement
x
Wrap-up
x
Short Sale Milestones