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Qualifying for a short sale

The short sale process can be a long, uncertain and a confusing process.  In many cases the lender will chose to approve a short sale verses foreclosing on a home.  There is no guarantee a lender will approve a short sale, but in many cases the lender will prefer to approve a short sale because is it less costly to the lender verses foreclosing on the home owner.   For the lender to approve a short sale the home owner will need to provide the lender financial information and go thought the banks selling process to obtain an approval to short sale your home. In most cases a short sale is the best option for a homeowner that not able to stay in their home. 

Short sale steps - I will walk you through the entire process! 

  • Choose a real estate agent 

  • Contact your lender 

  • Preparation of your home for market

  • List your home on the local MLS

  • Work on your short sale package/information to submit to your lender

  • Receive an offer

  • Submit your offer and short sale package to your lender(s)

  • Wait for short sale approval from your lenders(s)

  • Move-out of your house

  • Close Escrow

Here is a link to "The complete short sale process" by the balance.

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