What is a short sale?

A short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor.

Why should I outsource my short sale business and partner with The Short Sale Division?

It's Simple. Let an experienced law firm execute the process from start to finish. The average short sale process takes 33 hours of phone time and 30-90 days to complete. Let our negotiators call the lender; submit a complete attorney package, including the appropriate financial information, hardship letter, and a market analysis while you spend your time listing/selling homes.

AGENTS, DOES IT COST ME TO OUTSOURCE MY SHORT SALE BUSINESS?

No, We generally get paid just like you do; at closing, a fee included on the HUD-1 settlement statement. We include our attorney fee on the HUD reflected in the final sales price that's been negotiated by our firm. Your real estate commission is included as well and paid from the gross proceeds of the sale. The lender pays your real estate commission, as well as our attorney fee, and doesn't generally cost the buyer or seller.

How does a short sale benefit the seller?

In most cases, when a distressed home owner is in foreclosure and looses the property to the bank, the lender can sue the home owner for a deficiency judgment (judgment lien against a borrower whose foreclosure sale did not produce sufficient funds to pay the mortgage in full) We negotiate with the lender so that the short payoff is paid in full and the obligation is therefore satisfied upon sale of the home.

Let Us Do What We Do Best

Partner with you to assist in obtaining clients, receiving offers, and reducing your liability. Use our established contacts to negotiate with the banks, and get in touch with the lawyers and mortgage companies involved in the homeowner's case. Submit the offer, the financial information, and other supporting documents to the homeowner's mortgage servicer. Coordinate with title companies, attorneys, mortgage companies, for the approval and closing of the short sale.