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Let Us Handle The Short Sale Paperwork FOR YOU…….You Focus On SALES!!!

A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property and the property owner cannot afford to repay the liens' full amounts, whereby the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt. Any unpaid balance owed to the creditors is known as a deficiency. Short sale agreements do not necessarily release borrowers from their obligations to repay any deficiencies of the loans, unless specifically agreed to between the parties.

Did you know that the average short sale takes over 60 hours to complete? Do you have that kind of extra time to devote to every short sale transaction you have in your pipeline? Don't let the endless paperwork and phone calls to lenders stop you from going after new business. First Arizona Title can help you reduce your workload by 50% or more by facilitating the short sale process.

Step 1: Realtor takes listing and gives short sale package from First Arizona Title to Seller to fill out. This package will be submitted with all supporting documents as soon as you have a fully executed contract. Supporting documents from the seller should not be collected until there is an accepted offer. These documents can be uploaded to the Document Portal, E Mailed, Faxed or Picked up from your office. Let us know what works best for you!

Step 2: Seller calls their lender and applies for HAFA or HAFA Alternative. In some instances, the bank will want to be involved with the marketing process.

Step 3: A Short sale processor is assigned to your file and will notify agent file is complete and initiated. It is very important that all documents submitted be filled out completely.  A HUD is created and Escrow is opened

Step 4: The Short Sale Division follows up with the bank every 48-72 hours through approval and keeps you “in the loop” by providing regular updates. All negotiations are handled by YOU the Licensed Realtor. As the facilitator of the short sale we will notify you of any pending negotiations needed.

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