How we process a “Short Sale”

 Our Mission

To save our clients from a foreclosure, protect their credit,

and guide them through this difficult time with caring and efficient service.

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 How Bernadette & Belland process a “Short Sale”

1. Remember there is no cost to you to do a short sale. We are paid by your lender when we close escrow. And Lender pays all back taxes!
2. Property is listed.
3. All financial documents are gathered by Client Care.
4. Bernadette takes photos and picks up short sale and disclosure documents at the home.
5. Listing is inputted into the MLS. Agents begin showing the property.
6. Contact is made with the bank.
7. Bernadette adjusts price as needed on MLS (When Bernadette reduces enough to get offer you will know by the volume of agent calls).
8. Termite inspection is done on property if required (No cost to you. Usually required by buyer.)
9. Offers are received (we sometimes receive 10-15 offers on your property before we find the right one to present to the bank.  We are careful not to put a bad offer in front of the bank and have it not be able to be accepted and force the property into foreclosure)
10. Once we have an offer in front of the bank it goes into the loss mitigation department. It can take up to 90 days for the bank to assign a negotiator for us to negotiate with.  So this time is called the QUIET TIME!
11. This is a good time to search for a new home to lease. Contact Bernadette for leasing information. We have a lease listing packet that our clients find extremely useful when the time comes to rent a home.
12. Banks give us approval for your short sale.
13. We open escrow.
14. Escrow instructions are sent out for sellers to return to escrow(need to get these document back ASAP)
15. Close of escrow will be at least 30-45 days from short sale approval in most cases.
16. We call with confirmation when the property closes and you are free of a foreclosure!

 PLEASE READ!

Our entire team meets once a week to evaluate the progress of every listing to minimize the possibility of losing a home to foreclosure. When we get close to the trustee sale date of your home we will negotiate with the lender to postpone the sale so that our short sale request can be considered.

You will be called every week with a update/progress report on the short sale. The short sale process is very labor intensive, SO PLEASE, if you have any questions or concerns EMAIL Reradie@gmail.com or call Bernadette at (949) 394-0363 or anyone on our staff.  You will always receive a call back by the end of that business day.

If you have any questions on how to do this, please contact our office and we would be more than happy to help.

Thank you!

The Bernadette & Belland Inc.

Lawrence Belland Broker

ReRadie@gmail.com

949-394-0363