Short Sale Homeowner info - short selling your home

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Short Sales 4U LLC, Real Estate - Short Sale, Puyallup, WA

Short Sales 4U LLC
Nationwide: 253-677-3467

Short Sale Homeowner info - short selling your home

Information for Homeowners

Short Sell Your Home

Once you have made the decision to buy or sell a short sale property, itís important that you select the right people to assist you with your transaction.† My team is in place to assist current and future homeowners in finding the right real estate agent.†

Every short sale transaction requires a unique skill set, and selection of resources and knowledge.† Short Sales 4 U, LLC has specialized in short sale real estate transactions since long before our economyís most recent downward economic swing.† As the overall health of the US economy has spiraled downward our segment in the real estate market has grown high in demand.†† When the value of homes began declining, most agents werenít prepared for the huge influx of short sale properties and also couldnít understand the complex nature of short sale and foreclosure real estate transactions.†

Throughout the early 2000ís, real estate in the United States was booming because of historically low interest rates and the impact those rates made on real estate purchases.† In 2004, the real estate market posted its fourth straight year of record housing sales and real estate firms collected $6.1 billion in commissions.† During this period of time, our services were of the niche category as the influx of transactions allowed people to sell long, so to speak.†

Some believe that everything that goes up must come down sooner or later.† Soon the supply no longer exceeded the demand in the market.† There were many constraints that affected the US economy, such as the war in Iraq, corporate fraud, mortgage fraud, falsified appraisals and the list goes on and on.† Eventually, this economic strain began to take a toll on our real estate market.† Soon the demand was on the opposite end of the pendulum swing and houses were not getting sold and developers couldnít sell new homes. In many cases, entire housing and commercial developments stood at a stand still, some still do to this day.† As short sale agents our phone began to ring more and more often even as the rest of the real estate industry hurried to expand to support the influx of clients who needed the short sale expertise we already possessed.†

We have always dealt with clients who were upside down on their mortgage or rental property.† As the market declined it created a condition that was unforeseen.† Consumers began to call us because they were desperate to unload their property.† Perhaps they lost their job or got a job transfer.† We all know and have heard the scenarios of people and families in tight financial binds.† Clients would call us because we are short sale specialists and they desperately needed to salvage their credit and avoid foreclosure at any cost.† Fortunately for some, they found Short Sales 4 U, LLC.† With us, our many clients found a team with enormous knowledge, a high level of trust and a team that is sincerely committed to helping our clients close their real estate short sale promptly.† Our primary goal is to protect each of our clients financially and we never rush a transaction if credit risk is a liability for our short sale customer.† ††

Who are a few of our clients?

  • Homeowners having difficulty making mortgage payments on time.†
  • Property Owners with adjustable interest rates which have increased and who canít afford the higher monthly house payment.
  • Families with low income potential because of work related layoffs.
  • Those dealing with divorce or family illness.
  • Job transfers in a market where the value of many houses has declined below their previous fair market value.
  • People in sudden financial crisis.

We are committed to being easy to work with!

  • Short Sale Experts
  • Expert in Negotiations with Lenders
  • Avoid Foreclosure
  • Salvage Your Credit
  • Get Rid of Upside Down Real Estate Investments
  • Single Family Housing Short Sales
  • Rental Property & Investment Property Short Sales
  • We know the Short Sale Process

Canít sell your property?† Yes you can!

Attention to detail

Prompt Service

Phone calls Returned

Quick Email Response


High Level of Trust

Advanced Real Estate Technology

When should we start the short sell process?

If you have reached a point where you have realized that you are not going to be able to keep your monthly payments and you have fallen 30-60 days behind then it would be time for us to start analyzing a possible short sale opportunity for your property.† It is essential to start sooner because the more pro-active you are and the sooner you are able to begin the short sale process the easier it is for a successful short sale closing agreement to be finalized and recorded.† We would suggest you do not delay; be assertive and if you know you need help then give us a call right away.†

How long will the short sale take

Although there are several stages involved in a short sale, the more prepared you are the quicker the process.† Short sale negotiations and the eventual approval process can take only 2 weeks or as long as 3 months.† Generally, the average short sale takes between 30-60 days from the time the offer is submitted to the lender.† Patience is a requirement too!† Often times it can take between 50-100 phone conversations, letters or faxes between our office and your lender before final approval is met.†

We stress for each client to get organized and be prepared.†

(See documentation link under Info Help Center category for more info.)

Step 1

  •   Complete disclosure of your financial affairs for your lender to review. Print out 2 months' bank statements.
  • Collect previous 2 paystubs from each homeowner/borrower.
  • Gather the last 2 years tax returns.
  • Write hardship letter (explanation of financial default).
  • Personal Information Disclosure Authorization filled out for submission.
  • Complete Letter of Authorization for the short sale agent to facilitate with the bank.

Often times each individual lender will have miscellaneous documents that also will be required.† Donít be surprised if someone from Short Sales 4 U, LLC calls you for unexpected documentation that the bank is requiring.† Get organized and be prepared!

Step 2

Prepare listing. (View your home, take photos, complete listing info, write property profile discussing architecture, design, scenery, etc.)

Step 3

  • Market your property for both print and online distributions.
  • Find adequate buyer for your property with worthy credit qualifications.
  •   Finalize the buyerís offer for your property and negotiate accordingly.
  • Complete all paperwork for proposed purchase offer.

Step 4

  • Submit offer to bank for short sale transaction approval.† Short Sales 4 U, LLC will become a vital asset to your short sale transaction during the process of Step 4.† We stated before that it can take between 50-100 interactions via phone, fax, letter, etc to reach a final approval.† We are a dedicated team that is committed to salvaging our customerís credit and also tenaciously working through the bureaucratic tendencies of the banking institutions involved in this process.†

Step 5

  • Wait for final word on short sale submission from buyer to mortgage company.†
  • If approved from banking institution for short sale, we will process the loan closing documents and finalize the short sale approval.† Generally we can close the loan in 2-3 weeks.

Avoid Foreclosure

*Its important to realize that if you are facing the possibility of foreclosure it is very important to not ignore the letters of late-payment or possible property foreclosure from your lending institution.† Please contact your lender immediately and donít ignore the urgency of your situation.† We realize itís a stressful experience for each homeowner but the further you get behind on your house payment the harder it becomes for your bank to reinstate your loan.† In the end, your own delay could increase the likelihood that you will lose your home.†

Feel free to give us a call for any assistance.† We will help you to contact your lender and let them know of your situation.† Each time a correspondence comes from your financial institution it is important that you forward that information to Short Sales 4 U, LLC if we are your selected short sale agency.†

It also is important that you know your rights as a homeowner.† Look through your loan documents that you signed when you first purchased your home.† It is important to do this so that you know of the steps and the options your lender can take if you fail to make your scheduled payments.†

Prevent Bankruptcy

Bankruptcy is a legal alternative that allows the borrower to clear any debt obligations by restructuring the payment terms of their financial obligations. A bankruptcy stops the foreclosure process until the bankruptcy process is completed or the court allows the lender to resume the foreclosure.† Short Sales 4 U, LLC is committed to preventing clients from having to file for bankruptcy.† Short selling your property requires only a two year wait with no additional requirements.† The alternative of foreclosure or bankruptcy has long term consequences that are truly avoidable.†