Western Title is more than
just title and escrow.
We offer in-house short sales coordination with Short Sales Solutions! Read below to find out more!
YOUR SHORT SALE & 1031 EXCHANGE CONTACT:
SHORT SALE SOLUTIONS
What is a short sale?
A short sale occurs when a lender allows the borrower to sell the property to a third party for less than the total amount due on a mortgage. Typically, the borrower is having difficulty making payments but not always.
What is the benefit to the borrower to short sell?
Borrowers who go through a short sale can begin planning optimistically because the damage to a borrower's credit would be minimized verses letting the home go to foreclosure. A short sale can be the ultimate win-win solution for borrowers and lenders.
What is the benefit of working with a short sale coordinator?
In one word, the benefit is experience! However, to further define experience:
Expertise: The sheer number of short sales completed gives us the advantage of being intimately familiar with any possible borrower situation and each lender's quirky requirements.
Strength: When a real estate agent and a short sale coordinator work together for the borrower, each is doing what they do best. The short sale coordinator is working directly with the lender while the real estate agent is freed up to sell the house as quickly and efficiently as possible and focus on real estate matters.
Knowledge: Our experience knowing what each lender is looking for and can anticipate and circumvent lender-specific issues. Although we have no control over the lenders decision, we are able to establish relationships within the lenders and often work directly with a negotiator to increase the speed at which the decision is made.
What does a short sale coordinator do?
We'll take care of the coordination between the real estate agent and the bank which would include; file submission, phone call and email follow ups, faxing, scanning, uploading, Equator (if applicable), Homepath (if applicable), RESNET (if applicable), etc. We keep the listing agent as well as the buyer's agent up to date until the approval letter is received. Once the approval letter has been received, the escrow officer would become the point of contact for a successful close. All of this is complimentary when your escrow is with Western Title!
For more information on the short sale coordination service contact Cindee Baker.