angelaktinagmailcom 7025249718 Listing Process Preapproved Listings Streamline Coop and HAFA Bank sets list price Application and required paperwork can be submitted before listing paperwork ID: 785957
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Slide1
Short Sales
Part 2
Taught by: Angela Tina
angelaktina@gmail.com
702.524.9718
Slide2Listing Process
Pre-approved Listings (Streamline, Coop, and HAFA)
Bank sets list price
Application and required paperwork can be submitted before listing paperwork
Appraisal can take about 7-10 daysVerbiage will be added to the MLS and listing agreement
Traditional or Conventional Short Sale
You as the agent will pull comps and set list price
Comps may need to be submitted to bank
Slide3Required paperwork
Residential Listing Agreement
Short Sale Addendum to Listing Agreement
SRPD
Duties OwedAny other disclosures
Slide4Getting an Offer
Let the seller know ahead of time what they will be responsible for:
-HOA docs, utilities, etc.
Slide5-Repairs
-Home Warranty
-Buyer Closing Costs
Slide6Obtaining a HUD
Title company will want to know how many liens are on the property, if the seller is current on HOA, if you would like to add transaction fee.
Slide7Submitting package to bank
Authorization Letter
Offer and Short Sale Addendum
Any Counters
HUDHardship LetterLast 2 months bank statements
Last 2 paycheck stubs
Last 2 year tax returns
Listing Agreement
4506T
Financial Worksheet (List of Expenses)
RASS form (HAFA only)
BAC Addendum ( Bank of America)
Buyer’s Disclosure ( Bank of America)
Short Sale Affidavit (Wells Fargo)
Any other specific forms required by the lender
Slide8Ways to Submit SS Package
Equator
Scan and Email
Sending Fax through Email- EX.
18668801232@smartfax.comFax
Slide9Closing once Approved
Buyer’s Due Diligence (Inspection and Appraisal)
Ordering Resale and Demand
Submitting HUD for approval (3-5 days prior)
Seller’s SigningClose and RecordSubmit confirmation docs to bank