Time line for a successful deal
Realtor finds pre-foreclosure homeowner, already denied a Loan Modification.
Realtor submits deal to us or Investor partner for approval...reviewed, accepted, Cash Offer Made on house.
Realtor submits offer to homeowner, all paperwork signed,
Complete Short Sale Package submit to us or your investor partner,
Complete package submitted to our Mitigation Team, (or You May Negotiate if you can produce results)
Negotiations starts, take place - 30-90 days, (can be more or less depending on the bank)
Investor partner IMMEDIATELY lists home for sale on MLS, using SAME Realtor,
Offers begin to arrive. Buyers informed: "Owner awaiting Short Sale offer to be approved".
Bank OK's in writing, Investors offer to Purchase Home,
MLS Listing updated to say: "Short Sale approved!
Seller needs cash or pre-qualified offer to close immediately" (within 21 days),
Offer is accepted by us or investor partner/seller,
Escrow/Title happens SAME DAY,
Investor Buys House from Seller, with Short Sale Approval from Bank,
Investor Sells House to end-buyer, and escrow closes successfully.
Total time from Inception to Close: Averaging 3-6 months.