Trudocs knows that "Knowledge is power in the short sale world." It also knows that sometimes the short sale world is elusive. The very entity that can make or break a deal-the lending institution-is often a moving target with changes in policy, changes in requirements, changes in processes and staff that is under-trained or over-burdened with files and tasks.
This blog will present the most current short sale issues, and trends, answer questions from real estate agents, homeowners, buyers and offer the most current lender information available.
Education is essential to the success of a short sale. Like a well-run ship, all parties involved need to know what to do and when-real estate agents (listing and selling), homeowners, buyers and the lien holders-or the effort will run aground.
Most importantly, Trudocs recognizes that everyone must understand specifically what role they play in the short sale.
- 1. Listing agents market the property, and inform the sellers what will be needed during the process, how the lender will handle their file and the estimated length of time a short sale may take.
- 2. Buyer’s agents inform the buyer about the process, information they need to supply, the estimated length of time it will take from start to finish, the lender’s policies and protocols, and what they need to do to be ready when a lender approval is issued.
All parties will feel more confident and less anxious in the short sale process if they understand what their contribution will be as well as what to expect from the lender and when.
We will be posting information and updates about the short sale world on a regular basis and would welcome questions or suggested topics from the readers. The short sale process is a team effort, and this blog should and will reflect that.