ShortSales

		A Short Sale is a situation in which a home is sold to a new buyer, and the sales price is less then
		the face value of the mortgage loan, plus back payments (if any), plus all other sales and closing costs such as title, escrow and real estate commission fee's
		During a Short Sale, the owner markets the property for sale with an experienced Short Sale
		Specialist in an attempt to sell the property at the best price thus bringing in as much money as possible to the lender.
		When the property is sold to a new buyer, the seller relinquishes the property just like any other
		sales transaction.
		Many lenders today would prefer to accept a Short Sale versus going through with a Foreclosure
		repossession of the property.
		The Short Sale Specialist negotiates with the lender to arrive at the most competitive value.
		It is our primary responsibility as your Short Sale Specialist to work with your lender and facilitate a
		successful Short Sale.

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Short Sale Process:

1) The lender is contacted to discuss the possibility of a short sale and to determine
the lender’s process for completing the sale.

2) The seller issues a letter authorizing the release of personal information about the
loan and the property to the buyer or escrow agency.

3) The lender will review a settlement statement, which will indicate the proposed
selling price, remaining loan balances and itemize all expenses, including real estate
commissions and other fees and expenses associated with the closing.

4) The seller will complete a "hardship letter," which will detail and explain all financial
difficulties. Lenders will usually want to validate the seller’s financial situation by
looking at bank statements, investment accounts, along with examining pay stubs and
other financial records.

5) The lender will then look to the broker to provide a Broker Price Opinion (BPO) by
examining the condition of the property and the market value of comparable properties.

6) The lender will then want to scrutinize the purchase agreement to determine if all
amounts are reasonable and the real estate commission is acceptable.

Our Service

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		We are Short Sale Specialists. We help property owners by working with your lender to negotiate your
		payoff amount in order to price your home competitively and get it sold.
		We will also aggressively market your property to attract buyers and oversee the entire sale
		process to closing. These services are at no cost to homeowners.
		Because of the documentation required, the short sale process can be lengthy. But if done
		correctly, it can work well for all parties involved.
		The lender avoids the uncertainty of the foreclosure process, the seller avoids a foreclosure on his
		or her credit report (along with potential bankruptcy), and the buyer gets the best deal available for the property.

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AUCTION GENERATION, LLC 1200 Brickell Ave. Suite 1950 • Miami, Florida 33131 • Copyright © 2010 • Auction Generation • "The Knowledge to Sell " • "Take Action, Choose Auction" •
Troy Fowler Top 1% Lic. Real Estate Auctioneer - Lic. Real Estate Broker - Short Sale and REO Specialist - Serving Broward and Dade Counties - Call @ 305 206-0349 .
Telephone: (305) 754-2888 • Fax: (305) 397-1655 • Cell: (305) 206-0349 • email: troy@auction-generation.com

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Short Sales Overview

Auction Generation

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A Real Estate and Auction Services Company

Serving South Florida: Dade and Broward Counties

Short Sale Specialist - Certified Distressed Property Expert (CDPE)

REO Specialist

Auction Generation