Short Sale Management
RealtyTMS® compiles and submits the complete Short Sale Package to the lender(s). This package includes the necessary paperwork the lender needs to evaluate a potential Short Sale including the homeowner’s financial information, a copy of the Listing Agreement and Purchase Contract, the O&E from the title company, all necessary addenda, and any other required documentation.
We persistently manage all of the communication in our systematic pursuit of a Short Sale Payoff Agreement and keep you up to date throughout the process.
- We work with over 70 banks.
- We have a 92% Short Sale approval rate.
- We have an online Transaction Management System which is available 24/7 for you to monitor the progress of your transaction.
- We save you hours of your valuable time!
Short Sale Management Checklist – Services
- Collect all of the necessary information and signatures to complete the Short Sale Package
- Check the county records for Notice of Election and Demand (NED) and foreclosure sale date of the property
- Review the Contract for terms
- Contact the Title Company to obtain a copy of the TBD Commitment or O&E and a preliminary HUD
- Check the status of liens and judgments
- Submit Borrower’s Authorization to the Lender
- Submit and confirm receipt of the completed Short Sale Package to the Lender
- Actively communicate with the Lender in pursuit of the Discount Payoff Agreement
- Confirm the status of the Broker Price Opinion (BPO)
- Relay any terms/counter offers from the Lender to the Agent
- Supply copies of approval/payoff letters to the Agent and Title Insurance Company
- Consistently follow up and communicate with all parties throughout the transaction
NEW PRICING OPTION: NO UPFRONT FEES!
RealtyTMS® will review all new files for quality, structure & amount of time available prior to a foreclosure sale date (if one exists) before final acceptance of the file. Certain files may not meet our criteria. RealtyTMS® reserves the right to change pricing or decline a file.
** RealtyTMS® no longer accepts files with mortgages from Flagstar**
Request a Short Sale Package
*MARS DISCLOSURE TO SELLERS*
RealtyTMS® is not associated with the government, and our services have not been approved by the government or by the Seller’s lender. The Seller’s lender may not agree to change the Seller’s loan. If the Seller decides to stop paying their mortgage, the Seller could lose their home and damage their credit rating. RealtyTMS® is not telling the Seller to stop paying their mortgage. The Seller can stop doing business with RealtyTMS® at any time and can accept or reject any offer RealtyTMS® obtains from the Seller’s lender or servicer, and, if the Seller rejects the offer, they don’t have to pay the RealtyTMS® Approval fee due upon lien holder approval of the short sale.