How it
Works?
Homeowners Consultation
Before contracting for a short sale, it is important to assess whether your client/homeowner is qualified for a short sale or not. This will save you time, energy, and resources.
What we do is talk with your client/homeowner about their difficult financial situation, gather information, and based on their bank’s guidelines, we pre-qualify them for a short sale. It’s easy.
Some homeowners may not be ready for a short sale. What we do is continue to follow them up for you via co-branded emails, telephone calls, and direct emails.
When they are ready, you’ll be aware, and you can proceed with a short sale. We will send them a complete startup package that will contain what the bank requires.
Transaction Setup
Part A: Document Acquisition We must get all the signed listing agreements and the agent listing agreement. These documents will boost the chances for your client to short sale.
Part B: Confirmation/Due Diligence We will gather the initial loan information from the banks and submit the authorization forms to them. This will help us determine the type of short sale we will engage for your client. With all the information we’ve gathered, we’ll check for any encumbrances on the property, like judgment liens, check for foreclosure dates, and confirm HOA dues.
Part C: Assess Value We use a very subjective approach to evaluate properties. Therefore, we may use a different formula for various banks/investors. After considering all options, you’ll get a pinpoint value for your property. This will help you avoid underpricing or overpricing.
Contract Submission
This is the most important document in a short sale. You must be very diligent about contracts because a single mistake could be very costly. That’s why immediately an offer is received, we assess all the details and stay in control of all communication with buyers.
The final decision is yours to make. We do not negotiate price, we just pay attention to every detail that may cause delays and we eliminate it. An expert from Bright Horizon will help ensure that your short sale contract is in order.
Closing
After we obtain written short sale approval from the bank, we continue to work with the homeowner, the buyer agent, and the closing attorney to ensure that all closing details are addressed and the transaction is finalized without issue. You can be involved as little or as much as you'd like, but if you’d prefer to focus on other aspects of your business, we’ll handle everything so you can go get more listings!
Follow UP
Our contract with you extends even beyond the approval of a short sale by a bank. We know how important it is to keep working with the homeowners, buyer, and closing attorney. Anything could go wrong; that’s why you have to stay in touch to ensure the transaction is hinge-free.
At Bright Horizon, we can effortlessly do that to help you focus on other aspects of your business/life.