Our team of short sale and distressed property coordinators are Certified Distressed Property Experts with years of experience as licensed Realtors® and real estate Virtual Assistants. While we offer support services to all real estate professionals, we have developed systems to assist Realtors® in the marketing and closing of distressed property and short sale listings. While we recognize you may wish to handle some tasks in-house, below are services we provide:

Building Your Distressed Property Business

• Direct Mail
• Email marketing
• Internet
• FSBO and Expired campaigns
• Press releases

If you are interested in jump-starting your distressed property business you will be interested in our ‘Short Sales In A Box’. A turn-key solution to building and managing your distressed property business.

Distressed Property Listing Coordination

• Enter listing into MLS
• Collating Homeowner Short Sale documents
• Submit the Signature Authorization Form
• Obtain the Payoff
• Obtain a draft HUD1
• Create property flyer
• Create virtual tour
• Create Just Listed Postcard
• Upload listing to various websites
• Advertise listing in print media
• Submit price changes twice a month
• Communicate with Seller bi-weekly
• Maintain communication logs
• Obtain showing feedback
• Set-up automated MLS updates for Seller
• Obtain short sale package from the lender

Submitting Short Sale Proposal

The proposal is crucial to getting your short sale offer accepted by the bank. Our goal is to submit everything the bank asks for and then some.

• Assemble short sale package
  We will contact the lender to determine the information required and how they would like to receive the package.a.  Package cover letter
  b.  Preliminary closing statement
  c.  Listing agreement
  d.  MLS print out
  e.  MLS history
  f.   Executed contract
  g.  Buyer pre-approval letter
  h.  Authorization to release information
  i.  Homeowner financial worksheet
  j.  Hardship letter
  k.  Bank statements (2 months, all accounts)
  l.  Pay stubs (2 months)
  m. Tax returns (2 years)
  n.  Market data
  o.  Damage and repair report (supplied by agent)
  p.  Property photos (show true property condition)
  q.  Estimated holding costs
  r.   Review contract and addendums for accuracy & completion

  We are glad to work with your Seller to obtain any information needed that was not previously obtained.

• Submit package to lenderPackage is copied and submitted via fax, as well as mailed. If the bank uses Equator, we will work with this software also.

  a. submit package
  b. confirm receipt (next business day)
  c. confirm review (3-4 business days) and gathering of any additional informational requested
  d. coordinate access for BPO

• Communicate weekly/bi-weekly with lender, seller and buyer’s agent until negotiator is assigned.

  a. document all correspondence with all parties
  b. communicate lender responses to agent for further negotiating

Distressed Property Transaction Coordination

• Review contract and addendums for accuracy & completion.
• Provide copy of contract and addendums to your office, clients, lender, settlement agent and co-op agent.
• Personalized contact with all parties introducing our services.
• Weekly follow-up with all parties and especially with YOU, keeping everyone informed!
• Arrange for appraiser’s access to the property and follow-up with the lender to obtain a copy of the appraisal.
• Ensure all deadlines are met.
• Follow up on required disclosures.
• Scheduling of all required inspections.
• If your client is responsible for providing the termite report, coordinating the termite inspection with all parties and following up to insure the clear letter is sent to the settlement agent. If the other party is responsible for providing the termite report, follow up with the co-op agent to make sure the inspection is done and the clear report is sent to the settlement agent.
• Verify loan pre-approval with lender.
• Maintain a communication and correspondence log.
• Contact lender regularly for updates on buyer’s financing.
• Be available by phone, e-mail and fax to all parties during business hours.
• Follow up on completion of work orders and inspections.
• Assist in obtaining insurance information, power of attorney, wiring information, etc. in preparation for a timely closing.
• Pre-closing reminder to the buyer/seller including utility transfer information, walk-thru time and date, notification to bring certified funds to closing, reminder to bring keys, garage door remotes, repair receipts, security system codes, time and place of closing, etc.
• Schedule walk-thru with all parties.
• Arrange for HUD to be faxed to agent prior to closing, review for accuracy if there is time.
• Coordinate closing details.
• Verify funding and recording with settlement agent and inform all parties.
• Be available to your client to guide them through the closing process and answer their questions.