SHORT SALES PROCESS

The Process...

Overview - To the Realtor:

In order to submit the file you must have the listing of the property and contract. In addition, we also need the Short Sales package completed by your client. At the bottom of the page we have a link to a General Short Sales package for you to start the process. Keep in mind that every lender has a different package so you must check with us first.

All Short Sales Contracts are different, it can take up to 90 days to close on a short sales transaction.

We will provide you with up to date information as the file moves through the process.

Phase 1 & 2

Phase 1 - Start the Process

Short sale general package available for you to get started and have your client complete the general information for us.

It can take up to 7 days for us to gather and complete all documents from seller/buyer/realtor.

Every lender has different package and guidelines.

We will ONLY submit a complete file to the lender, so once all the documents are received by the seller, we will submit the file and confirm with 24 hrs.

Phase 2

Once the completed file is submitted to the lender; the lender can take up to 5 days to upload the package in their system and confirm.

Once the package is uploaded then we can proceed to the next step.

Phase 3 & 4

Phase 3

Lender will assign a bank negotiator within 30 - 90 days after submitting a complete file.

Phase 4

Once the lender assigned the negotiator, he/she will take approximately 15 - 30 additional days to review and counter offer the file.

During phase 3 & 4 process, A BPO (Broker's Price Opinion) is done by the lender. A process by which a realtor appointed by the lender comes out to evaluate the property and give his "opinion" on what the value of the property is.

Phase 5

Once the lender negotiator approves and accepts the final contract, the file will quickly move to the closing department. This process is usually 3 - 5 days, the file is finalize and close.

Why Us?

We have a 99% success rate, which means that 9 out of 10 files will close.

Capital Abstract & Title and Mandel & Perkins, PA opened since 1985 and our Short Sales Team has over 10 years of experience handling a variety of short sales contracts. We are always looking to service you and your clients with excellent customer service and determine negotiators to get the job done.

You can count on us to provide you with up to date information and status on your file.

Capital Abstract & Title / Mandel & Perkins, P.A. - 10115 W. Sample Road - Coral Springs, FL 33065
Office Phone: (954) 344-8420 Fax: (954) 344-8852 Email: info@capitalabstract.com
Web: www.capitalabstract.com