How to Speed Up Short Sale Process in NJ and NY?

How to Speed Up Short Sale Process in NJ and NY?

If you are a real estate agent or attorney in New Jersey and New York, here are three ways to speed up the short sale process.

One of the questions that I get asked often is, “why do short sales take so long?” I will show you three ways, as an agent, that you can speed up the Short Sale process. Stay tuned.

Alright, as an agent, the first thing you can do is, once you get a contract and you get it executed, your job is not necessarily over. And you should not expect the attorneys to expedite the matter. It is up to you to really get the documents and get whatever is necessary from the homeowner so that you can give it to whoever is working on the Short Sale. If you’re working on the Short Sale, then you need to expedite and push the homeowners to get the documents to you or to whoever’s working on this short sale. And that’s the number one reason why short sales take so long. I mean, besides the fact that it’s the bank that takes their time. But it is also the time frame that it takes to get documents from the homeowner.

The second thing you need to do as an agent is you need to schedule the BPO or appraisal as soon as possible. Because what happens is within two to three days, if you don’t schedule it, the bank is going to cancel that order and what happens? That delays it because now you have to call the bank and reschedule that BPO or appraisal.

The third thing, once you get an approval, now that is what you want an approval from the bank. A Short Sale approval. Your job as an agent does not stop there because you need to make sure that you push the buyer to close. If the buyer is getting the financing you need to make sure that they’re on top of their financing, getting their appraisal, getting their mortgage documents in order to close before the short sale approval expires. If you’re an agent that’s looking to do more deals this year, Like our Facebook page, subscribe to our YouTube channel to get more updates.

Until then, take action and crush it.

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We Help Homeowners, Attorneys and Agents in New Jersey and New York close on their short sales.

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