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Short Sale
 
 
We are the leading authority for short sales negotiations, our team that is comprised of real estate professionals with decades of experience, assisted in approving and closing hundreds of short sale transactions. Our short sale division is run and overseen by our counsel, Mark Somerville, who has over 30 years of experience in the real estate field.

The Realtors who work with us find that they can make more, work less, and close more of their short-sale listings than using any other approach. So relax and let us handle the often difficult short sales process.

Times are tough for many homeowners who may be faced with losing their homes. Many don't know their options and are too quick to turn to their bankruptcy attorney. Some just give up and let the foreclosure process take its course.

Our goal is to assist homeowners in avoiding foreclosure and bankruptcy, and get a fresh start. We do this by negotiating with the bank to accept less for the property than the mortgage balance. We work with local Realtors to find a buyer for the property. It's rewarding for us to be able to give homeowners hope where there was none before, and then present them with a solution that gets them back on their feet.

 

Short Sales Bogging You Down? Turning Away New Listings?

Let ATG help you increase your business and your revenue.  When you partner up with us to manage your short sales, we will take care of all the negotiation process.

- We evaluate the potential outcome for your client.
- We discuss and explain the short sale process with your homeowner.
- We collect all necessary  documents from the homeowner.
- We help you price the property to sell effectively.
- Once a qualified buyer is identified, we submit the completed  short sale package to the bank(s).
- We begin negotiations with the bank(s) , and  give you online  access to your transaction to keep you  updated of the progress.

 

 

Does It Matter Who Does a Short Sale?
Very much so. Traditional real estate agents only get about 15% of their short sales approved. By having experienced negotiators that handle short sales all day, every day, and, by limiting the short sales we handle, we should get through almost every short sale

 
What are the Benefits of a Short Sale?
When a Short Sale is achieved, there will not be a foreclosure. Which damages credit up to 7 years.
 
How Much of a Discount Will the Bank Take?
That is a common question. However, it is the wrong question. The real question for lenders is: What is the house worth today so I can determine how much money lenders can salvage out of a bad situation? Remember that you represent the homeowner and are trying to get the highest price possible for the lender.
 
Can Investment Properties be Short Sold?
Most definitely. Any type of property can be sold through a short sale.
 
What Happens If I Don't Do a Short Sale or a Short Sale is Unsuccessful?
The result is the same: A foreclosure. Our goal is for home owners to avoid foreclosure, which will affect credit more than a short sale. 
 
How Much Will My Commission Be?
We do not take any of your commission. We recommend that you ask for 7% commission on your listing agreement. Which allows room for negotiation down to 6 or 5. Lenders accepted 7% commission on multiple short sales in the past. 
 
What is the Short Sale Process?
Upon receipt of a complete short sale package, we will fax it to the lender and confirm receipt in 3 – 7 days.  the amount of time it takes for the bank to upload the packages onto their system. Once they confirm receipt, we ask the lender with the first mortgage to order an appraisal or a Broker Price Opinion (BPO), and request that a negotiator be assigned. It is important that you meet the appraiser to tell him or her why your contract price is a good offer for the bank.
 
Once a negotiator is assigned they have 30 business days to review the offer. During this time we continue to check back regularly to get a status so that we can keep everyone informed. Once they deem the offer is valid, they submit the offer to the investor (the actual owner of the mortgage) for final approval. This can take up to 30 business days.
 

 
Thanks Mo, your team did a great job. 

-Julia Greenway