Q: Who qualifies for a short sale?
A: It is a myth that a seller must be behind on their mortgage to qualify for a short sale.
Sellers who are behind on their monthly household expenses
Sellers whose monthly household expenses exceed their monthly income and they expect to fall behind in the near future
Sellers current on their mortgage suffering from a situational hardship such as divorce, job relocation, disability, medical issues, etc…

Q: Who should negotiate my short sale?
A: A third party negotiation company that specifically focuses on all aspects of the short sale process – some states may require licensing and certification
A lawyer who has experience in short sales
A Realtor who has experience in short sales* (*some states have restrictions on what Realtors can and cannot do as far as negotiating short sales, be sure to check your state’s board of regulations for these guidelines)

Q: What is the negotiator’s fee?
A: Many third party companies charge the buyer or the seller a fee, and some even take part of the Realtor’s commission.
ATC does not charge fees to sellers, buyers, or Realtors – our fees are charged to the bank, subject to their approval

Q: Do you work with all banks?
A: Yes, unlike some 3rd party companies who turn down business depending on the lender, we will work with any lender

Q: How long does the short sale process take?
A: Generally, we tell all our clients 60-90 days from contract to close. However, many variables come in to play as to determine the exact length of time (Number of liens on the property, cash offers versus financed offers, terms of counter offers, seller/buyer cooperation and compliance). We’ve had files that have taken 20 days and others that have taken more than a year. It truly depends on a case by case basis.

Q: Why do banks agree to execute a short sale?
A: It is more cost effective for a bank to agree to a short sale than to go through a foreclosure. They are already aware of the fact that a loss is pending, given the current real estate values and what is owed to them, so their main goal is to mitigate loss.

Q: What are the potential outcomes of a short sale?
A: Full Short Sale Lien Release – allows the short sale transaction to take place
Other Short Sale Approval Terms may apply based on the individual’s financial position and the guidelines set forth by the bank/investor holding the loan including: Cash Contribution, Promissory Note, and Deficiency Balance

For more information on these questions, as well as some others,
Download Our FAQ Guide