3021 N. Center Saginaw, MI 48603
Office: 989-790-2100
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Short Sale• A short sale can be negotiated if the homeowner has:
-Financial Hardship
-Monthly Shortfall on Financial Worksheet (or pending shortfall)
-Does not have significant assets to assist in paying down the mortgage
Definition• A homeowner is 'short' when:
A borrower owes an amount on his property that, when combined with closing costs and commission, is higher than current market value. • A short sale occurs when:
A negotiation is entered into with the homeowner's mortgage company or companies to accept less than the full balance of the loan at closing. A buyer closes on the property and the property is 'sold short'. What a Short Sale is Not• If you do not have a financial hardship then you will most likely not qualify for a short sale
• A short sale is only for those who meet all requirements
SHORT SALE PROCESSOwner Involvement• Complete or provide all necessary documentation
-Signature Authorization (FORM A)
-Short Sale Disclosure (FORM P)
-Hold Harmless (FORM C)
-Homeowner Document Checklist, Provide all Documents (FORM E)
-Homeowner Financial Worksheet (FORM F)
• Keep property presentable and ready to sell
• Homeowner Property Checklist (FORM G)
• Be available to communicate with mortgage company if necessary
Why Hire a CDPE?• Over 28,000 agents nationwide
• Member of an organization where agents negotiate hundreds of short sales on a weekly basis
• Extensive training
• Expert support on an as-needed monthly basis
• Complete system to give you the best chance at successfully avoiding foreclosure
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Each Coldwell Banker office is independently owned and operated |
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