View Offer and Listing Status > Green Real Estate Team Short Sale List Spreadsheet <

View Offer and Listing Status > Green Real Estate Team Short Sale List Spreadsheet <

OFFER SUBMISSION GUIDELINES

How to Submit and Track a Short Sale Offer

The following are the steps to follow in presenting offers. These steps will enable your offer to be ready for lien holder review. Please note that these are the recommended steps that we suggest to our sellers. Our number one goal is to facilitate a short sale transaction that is most likely to enable the seller to avoid foreclosure. Although we recommend the following steps, the decision on how to respond to offers and which offer to accept rests entirely with the seller. It is the seller that will execute the offer of their choice and that offer will be submitted to the lien holder(s) for short sale processing.

Short sale steps:

1. Purchase Offer: Your purchase offer must include the following:

• CAR Form: Residential Purchase Agreement (RPA)
• CAR Form: Disclosure Regarding Real Estate Agency Relationship (AD)
• CAR Form: Short Sale Addendum (SSA).
• Pre-approval letter or verification of funds (if cash offer). Verification of funds for down payment on loans should be referenced on your lender letter.
• The addendum we have attached to the MLS. If you cannot find the addendum it is also located at: Addendum to Listing Contract
• Copy of an earnest money check.

2. Where to Send: Email all offers to offers@jeffgreenrealtor.com. If you must fax us, the fax number is 209-247-1127. FAXING WILL DELAY PROCESSING TIMES. Do not email or fax to other locations as it further will delay processing.

3. Closing Cost Credits: You may ask for allowable closing cost credits. Please request any closing costs credits in Paragraph 2D of the RPA. Do not request closing cost credits in any other part of the contract as it will delay processing.

4. VERIFY THAT YOUR OFFER WAS RECEIVED: After submitting your offer you should be able to see your net offer online by the next business day. Visit www.Alternative2Foreclosure.com and select the link for Short Sale Status.
IMPORTANT: If you do not see your exact net offer online by the next business, day please email jeffgreen@pmz.com or call 209-247-1127. You will get a faster response via email.
5. Offers Submitted to Lien holder(s): An acceptable purchase offer will be submitted to lien holder(s) the week after the first two full weekends after listed on MLS (unless a trustee sale is imminent). This allows for time to submit and receive acknowledgement of all initial documents required by lien holder(s). It can take up to two weeks for the initial documentation to be uploaded and imaged thus enabling the lien holder(s) to process offers. We work to expedite the process.

6. Listing Status: Typically after an offer is selected to be sent to the lien holder(s), MLS status will be changed to Active Short Sale Contingent (ASC) on Metrolist or Pending Bank Approval on Bay East. On other MLSs appropriate notation will be made.

7. Track the Short Sale Process: If your offer is selected or if you are in back-up position you can follow the short sale process through it’s various stages at: www.Alternative2Foreclosure.com – select the link for Short Sale Status.

8. Start of Escrow: Typically, after written lien holder(s) acceptance is presented to the buyer’s agent, escrow begins.

Thank you very much for submitting your offer. We look forward to a great transaction.

Thanks!

Jeff Green and the Green Real Estate Team – PMZ Real Estate