Short Sale Escrow is a situation where the property is sold for less money than it actually is worth. This is often not the homeowner’s decision, but that of the lender they used to purchase the property in the first place. The lender may allow the seller to sell the property as long as they are willing to receive any amount of equity in the property. In some cases, the seller may not get any money from the overall sale. Most of the time, the lender will not permit the owner to retain any amount after the sale.
You don’t have to wait for four years to go by for your credit to improve. At Inspire Escrow Services, we will handle the following aspects of the transaction:
- Full Transaction Management Service
- Transparency between all parties in the transaction and prompt communication.
- All instructions in the Short Sale process are documented.
- All parties need to be updated about the progress of transactions and any modifications.
- When a payment is made, a receipt should be issued to the payer.
- All money spent for the entire process must be accounted for.
- Any instructions given must be carried out at the right time.
- The settlement statements should be prepared in a timely manner.
- The company issuing the Title has to be instructed on how to properly document the Title.
- All documents needed to complete the transaction must arrive on time.
- Any payoff demands have to be secured on time.
- The transaction can only be completed if the money is received in its entirety.