Nashville TN – Short sales have a reputation for taking a long time. But, they can drag on even longer if the paperwork isn't submitted to the lender in a timely manner.
When the Stop Foreclosure Institute first started doing short sales, we were hesitant to submit anything to the lender until we had a 100% complete package.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
That caused the short sales to drag out a lot longer. After a little while, we learned to submit the paperwork as quickly as possible to the lender.
It usually takes 30 to 60 days for the lender to assign a negotiator to the file. That gives us plenty of time to track down any missing paperwork.
We realized that we were wasting time if we waited 30 days until everything was perfect and then submitted the file. There is a common myth that you shouldn't submit short sale paperwork until it is 100% complete.
Let me explain why that myth just isn't true. A lot of lender have different special forms they wanted filled out specifically for them.
"Oh, you need the buyer and seller to sign the ABC Bank Contract Addendum", the short sale negotiator tells us. Besides, most short sale negotiators want things done certain a way.
Because of this it is almost impossible to put together a 100% perfect short sale file that will have exactly the way the lender wants it. So make sure your agent submits your file quickly and follows up with the short sale negotiator to see if anything is needed.
Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at nashvilleshortsalepros@gmail.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (615) 850-4173
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Nashville loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thanks for reading this, Reggie Woodgett.
Reggie is a Real Estate Agent at RE/MAX Elite. Nashville Short Sales Realtor:
Phone: (615) 850-4173. nashvilleshortsalepros@gmail.com.
View My homes for sale at Nashville TN Homes For Sale and Real Estate
Reggie Woodgett and The Woodgett Group specialize in loan modifications and short sales in Nashville Tennessee. Nashville Loan Modification Help. Nashville Short Sales. Nashville Short Sale Realtor. Nashville TN Short Sales. Nashville Realtor.
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.
Important Notice
Reggie Woodgett, RE/MAX Elite, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Reggie's personal views and do not reflect the views of RE/MAX Elite.
This information on A Common Nashville Short Sale Case Mistake: Waiting To Long To Submit The Contract To The Short Sale Lender is provided as a courtesy to our viewers to help them make informed decisions.