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SHORT SALE PROCESS

1. Sign up with FRG

2. Listing & Investor offer

3. Marketing

4. Homeowner Document Request & Submission

5. Negotiation & Approval

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

About a Short Sale 

At FRG one of the things which we specialize in is doing a short sale to help you sell your property for less than what is owed. With the declines in the real estate market many homeowners are finding that they owe more or close to what their property is worth. When this is the case, a short sale is often the best solution for you to get out of your situation...... (cont) One thing you must be aware of is that if you are current on your payments you cannot typically do a short sale. This is only for homeowners who are behind on their payments and can no longer afford to keep the property.

 Even if your property is currently in foreclosure, a short sale is still a great option for you. Even though the entire short sale process can take from 1-6 months, we can typically postpone the foreclosure sale date if it comes up during the process. If you have a sale date in the next 14 days Read This.  The reason you would want to do a short sale rather let your property go into foreclosure is to minimize the impact on your credit report. A foreclosure will typically remain on your credit report for 7-10 years and is viewed in a similar fashion as a bankruptcy to most lenders and creditors. The impact of a short sale is typically much less with most people being able to get a new loan within 12-24 months of making payments on their other obligations on time. This is just an estimate, and we recommend you contact an attorney before making any decision.

 Why use us for your short sale?

1.      Experience of over 1800 bank transactions.

2.      Direct contact with the representative handling your file

3.      Have an offer within 24 hours from one of our investors

4.      Full service: Listing, marketing, negotiating Closing the transaction!

5.      Confidentiality-No signs in your yard saying: Foreclosure, Bank REPO, Short Sale,

         etc.

6.      Personal attention and care to each client!

"Short Sale" is a very popular term being thrown around today in real estate circles. The same real estate agents who are claiming to be the "experts", did not even know what a short sale was 6 months ago. A common mistake people make is that they contact their local real estate agent who helped them buy the house, or they have seen their signs up in the neighborhood in order to help them with the short sale. Now why is this a mistake While your local agent may be good at finding buyers or marketing the property, if they do not know how to deal with the bank, which most do not, the deal is dead in the water. At Foreclosure Recovery Group we utilize everyone's strengths in order to have the best team working on your side. Our process works like this:

 SHORT SALE PROCESS 

1.      Sign up with FRG-You sign up with us for our services for a short sale and supply all documents which we request. 

2.      Listing & Investor offer- The bank will always want to see that the property is listed, so we take care of that for you. They also want to see an offer before they will negotiate, we take care of that as well. When you sign up with us one of the greatest benefits is you will have an offer from one of our investors within 24 hours which we will start negotiating with the bank with.  

3.      Marketing- As we stated before, real estate agents are good at showing the property and finding buyers, so we recognize that and use their strengths to your advantage. As part of listing with us, we partner up with the top real estate agents in your area and they handle the showings of the property and dealing with the buyers, while we focus on negotiating with your bank to make sure the deal goes through. Having a buyer means nothing, if the bank does not approve them. 

4.      Homeowner Document Request & Submission- Just like an attorney builds a case, we do the same on your behalf and submit a package to the bank which is anywhere from 50-110 pages about your file. We do need the homeowners cooperation here because the bank will often ask for documents that only you can provide. To see an example of these documents click here 

5.      Negotiation & Approval- Once we have everything we need from the homeowner we submit it to the bank and start the negotiation process. During this time we will closely monitor the foreclosure sale date so that the property is not sold during the negotiation. We cannot guarantee the property not being sold through foreclosure, but we will closely monitor it and will do our best to prevent that.

 The bank is ultimately the one that makes the decision if the deal goes through or not and therefore it is crucial to have someone who knows how to deal with the banks, has experience closing deals with them, and has contacts at the banks in order to make sure things go smoothly. Real estate agents may be good at selling property but they should never be counted on for the aggressive negotiations with your lenders on your behalf. Our team has the experience of over 1,800 short sales to help walk you through your situation and make it as easy as possible. If you are interested in hearing more about our services click here to get started on getting out of your situation.

 
           
 
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