What’s this going
to cost me?
There are people out there who will tell you that they can do all of this for nothing. Well, you know what John Arbuckle said about that - “You get what you pay for.” It’s not going to cost you anything to have me list your home for sale; but, the actual process of helping you through the short sale process, negotiating with the bank(s) and doing the paperwork is a time and labor intensive process.
I have partnered with an attorney in a program that they have set up to do this. They have a professional staff that has dealt with this process hundreds of times and knows how to get it done. They will handle the things listed below, while I find a buyer for the the house.
For that work they will charge you a $400 non-refundable application fee up front from you.
They will also charge a $350 closing fee to the bank when the sale is closed and will charge a $200 escrow fee to the bank on the closing statements.
They will charge whatever the customary local closing fees are that are associated with the closing, such as filing fees with the county or overnight charges to send the payoff money to the bank(s).
For your $400 non-refundable application fee, these are the services that the attorney will render to facilitate the transaction:
* Supply necessary form to the seller in order to apply for a short sale
* Assist the seller in putting together required information packet for submission to the lender(s).
* Search public records and disclose any and all liens that are currently of record and that will need to be cleared in order to transfer title.
* Establish contact with lender(s) and submit short sale package
* Contact other secured creditors to obtain payoff information.
* Establish an open line of communication between the lender(s), the listing agent and the seller.
* Prepare and submit preliminary settlement statements to lender(s) with a purchase offer.
* Negotiate with lender(s) any requested changes to terms and conditions of the purchase offer submitted.
* Keep the seller and listing agent apprised of any and all progress regarding the negotiations.
The goal is to expedite the process and take some of the stress out of the situation by putting professionals on your side to do the negotiations with the bank(s).