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13 ways to get a fast short sale approval in 2013

This year, short sales are taking less and less time, getting a fast short sale approval is more likely, and here are some ways to ensure just that.

short sale approval

short sale approval

Is this the year of the short sale?

If you are a short sale maven like myself, you probably already have all sorts of tricks up your sleeve that will lead you to continued short sale success in 2013. Personally, I’m excited about 2013. With all of the available short sale programs and with the GSE’s interest in streamlining the short sale guidelines, those short sales that took 8 months in 2008 are now closing in record time.

I’ve compiled a list of 13 tips for short sale success in 2013. While the number 13 has typically been associated with bad luck in Western culture, here are some awesome ways to achieve short sale success in 2013.

Top 13 Ways to Get Your Short Sale Approved Fast in 2013

13. Understand available short sale incentive programs.
12. Collect all documents for the short sale package at the listing appointment.
11. Have your title officer run the Statement of Information when the short sale listing is taken.
10. Order (and read) the preliminary title report when the listing is taken.
9. Get non-institutional liens released early.
8. Order repair and pest control bids prior to submitting your short sale package to the lender.
7. Assure that the settlement statement that you submit to the bank has the correct figures for your closing date.
6. Submit a complete short sale package to the bank (including a fully executed offer, when applicable).
5. Do not use or accept electronic signatures.
4. Maintain regular weekly communication with all parties throughout the process.
3. Make sure that the short sale sellers have an exit strategy.
2. Follow up regularly with the lender(s).

And, the number one way to achieve short sale success in 2013….

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Stay calm. No matter what you do and who you talk to during the process, make sure to stay calm and always maintain a pleasant attitude. Not only might their be health benefits to living life with a positive attitude, but you may find that a calm and pleasant attitude may lead to some new friends (and referrals) in 2013.

Happy New Year!

 

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Written By

Melissa Zavala is the Broker/Owner of Broadpoint Properties and Head Honcho of Short Sale Expeditor®, and Chief Executive Officer of Transaction 911. Before landing in real estate, she had careers in education and publishing. Most recently, she has been able to use her teaching and organizational skills while traveling the world over—dispelling myths about the distressed property market, engaging and motivating real estate agents, and sharing her passion for real estate. When she isn’t speaking or writing, Melissa enjoys practicing yoga, walking the dog, and vacationing at beach resorts.

1 Comment

1 Comment

  1. JoeLoomer

    January 3, 2013 at 7:23 am

    Can always count on Melissa for great content!

    Navy Chief, Navy Pride

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