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Anatomy of a Short Sale Transaction


This past week, I had the pleasure of gaining mutual acceptance on a condominium for a client.  It was a bank owned property.  The following day, I received a nice flowchart from the listing agent, explaining what my clients and I should expect and the time frames involved.  I thought to myself that this was a very professional agent and I appreciated getting a “heads up” on what to expect.  Here is what I received.PAS Flowchart

So, I thought to myself that if I found something like this useful, then I’m sure others would find it useful as well.  I then decided to go one step further and create a flowchart for those folks involved in a short sale transaction.  I know from personal experience how frustrating it can be when waiting for bank approval on a short sale and it seems to take forever, especially when there is little to no communication from the bank.  Here is my gift to you, my faithful readers.

SS FlowchartI hope you find this useful in your current and/or future short sale transactions.  As always, I’d love your feedback!

When REALiTY BiTES, bite back!

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