Short Sale Addendums
and Instructions
We have all heard the horror stories
about how difficult it is to get a short sale closed.
Because
of the problems associated with dealing with various lenders and
with laws
limiting real estate agent's involvement in short sale negotiations,
we have elected to have our short sales negotiated by a national
processing company, Program HR 3648 (formerly known as BGS3).
Program HR 3648 is a short sale
mitigation firm that has many years experience in dealing with a
multitude of lenders. Several of the company’s officers used to work in
the lending industry. They just seem to know what lenders are
looking for and have a 95%+ success rate.
Please inform your buyer that short
sales do take much longer than a traditional purchase. Your buyer's
patience will be rewarded by getting a home at an incredible price.
On average, short sales take 45-90
days for approval from the time the offer is submitted to the lender.
Depending on the complexity of the particular situation some short
sales may take even longer -- especially if there are multiple
mortgages or if a mortgage insurance company or any additional
parties are involved in the decision making process.
Program HR 3648 has been very successful in getting short
sales approved in a reasonable time and has helped to shorten the
timeframe, but unfortunately some lenders still take a lengthy amount
of time to go
through this process. Please make sure your buyer understands the
time and complexity involved in getting a short sale approved.
Please review the short sale
documents below and please call or email me with any questions.
The Short Sale Offer Submission
Guidelines will walk you through how to structure your offer.
The Short Sale Addendum and Buyer Discount Fee Agreement MUST
be included with your offer for it to be considered.
Documents
are available for download in PDF format. Please be sure to have the
latest version of Adobe Reader installed before downloading.
To
download the documents on a Windows PC, right click on the above
links and choose "Save Target As..." to save these files to your
computer.
You
can download the latest version of Adobe Reader free from
www.adobe.com.
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Submitting An Offer |
| Please be sure to
call our office and notify us that you have faxed or emailed an offer and
leave all of your contact information in case your fax or scan does not
not arrive or is missing pages |
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Additional Information |
| For
additional information on any of these properties please contact: |
| |
Michael Smith |
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Chapman Hall, REALTORS |
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Office: |
(404) 257-8717 |
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Fax: |
(404) 806-6203 |
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Cell: |
(678) 587-8717 |
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Email: |
 |
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© 2012 Michael Smith. All Rights Reserved.
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