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How to Prevent Short Sale Processing Delays
How does an expert short sale agent keep all parties to the sale engaged and cooperating while navigating the long lender processing period? This requires a level of expertise that only comes with experience, and can be most challenging to the uninitiated or unprepared agent.
 
The two areas of a short sale negotiation where ability to hold the transaction together are most important -- and also most in danger -- are the document collection phase and the escrow phase. This post addresses short sale document collection and submission.
 
Every lender and loan servicer has specific guidelines that must be met before your short sale will be approved.
 
An important part of my job as your expert short sale agent is to help you understand the lay of the land ahead and guide you around potential obstacles that might be encountered along the way.
 
One of the most common minefields a short seller and short sale buyer may run up against is the lengthy and sometimes stressful paperwork processing period. Processing the paperwork typically takes anywhere from 6 weeks in a best case scenario to 6 months or more if things get bogged down.so be prepared and be patient.
 
Understanding your lender’s document collection and review ... more

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