Barlay Law Group

Short Sale - A Homeowner's Perspective

 

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In some cases, the process of getting short sale approval can be lengthy. Experience has shown us that a homeowner's understanding of these matters will contribute to a better working relationship between us, and that in turn makes our efforts more productive.

Steps Required of the Homeowner: 

  1. Contact your Lender’s Loss Mitigation Department – to determine their willingness to accept a short sale.  
  2. If your Lender is willing, you will need to contact us and we will have you complete our Intake Worksheet that provides us with the initial informaton to open up your short sale file.
  3. Once your file is open, we will send you our complete ShortPASSTM package and/or your lender's specific Short Sale package.  You will need to immediately complete and submit back to us the New Authorization Form, ShortPASSTM Agreement, ShortPASSTM Questionnaire, Authorization to Release Information, and Homeowners Association Authorization (if applicable), and any other specifically requested lender document(s). You may send these set of documents either via fax, email, hand-delivery, or via regular mail.
  4. Start to gather information needed for the short sale package (see Homeowner Document Checklist).
  5. Once you have gathered all the information, you will need to submit it to us along with any other lender not specifically requested initially.

Steps Performed by Barlay Law Group LLC:  

  1. BLG will review your short sale package documents
  2. If the package is complete, BLG will:
    • Conduct preliminary title work:
      • Search for existing liens
      • Order payoffs (liens, HOAs, etc…
      • Obtain property tax informatio
      • Prepare preliminary HUD-1 Settlement Statement
      • Submit to Lender(s)
  3. BLG will then facilitate the short sale by acting as liaison between homeowner and lender(s).
  4. BLG will notify homeowner upon receipt of short sale approval(s).
  5. If approval is acceptable to homeowner, BLG will prepare for the final settlement closing. 
  6. BLG will close on the sale of the property.
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Contact us

  • Tel: (770) 602-9924
  • Fax: (770) 602-9926
  • Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Address: 1805 Overlake Drive, SE, Suite A
    Conyers, Georgia 30013