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THE PROCESS
Once your
processing fee is paid, our In-Take
Department will fax or email you the forms needed to submit your
deals.
 ◊
Client Agreement - This form is the agreement between our client/
and CTCSS.
◊ Client Seller Agreement - This form is the agreement between the
homeowner and CTCSS.
◊
CTCSS Property Information - This form is to be completed by our
client. CTCSS uses this document to investigate the seller’s
hardship & a description of the property. This document also tells
us the maximum amount the investor will pay for that particular
property.
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Seller Authorization -
CTCSS must have the Seller’s authorization to discuss the hardship situation and then negotiate short sale.
◊ Checklist -
This form provides you with all of the necessary
documents needed from the Homeowner to complete the short sale
process.
Negotiating a short sale with the lender is a process. This process
can take up to 1-4 months. Every lender process is different.
Depending on the circumstances it could be longer.
The Purpose of a Short Sale
What is the purpose of a Short Sale?
To help the borrower that has a property in default avoid
foreclosure and prevent the home from going to REO.
To help our client purchase the property at a discounted price
before it enters the REO stage.
What is a Short Sale?
A short sale is a negotiated settlement. This is when the lender or
other lien-holders agree to accept less than the amount owed as a
payoff on a property.
There are two types of release the lender may offer if the short
sale is approved.
Full satisfaction - the seller is totally released from the debt
owed.
Partial release of lien - The lender will release the lien for a
discounted price to allow
the property to be sold, but the borrower
may be responsible for the remaining balance.
A Short Sale can be a lengthy process.
CTCSS is totally dedicated to
getting you results quickly!
Doing a short sale is a win-win situation for everyone. The lender
accepts a short payoff to save on legal fees and to reduce the
turnover ratio on foreclosures.
The investor or buyer saves the borrower’s credit from foreclosure
and also gives the borrower another chance to become a homeowner.
Toll Free:
(877) 452-5328
Local:
(678) 344-3890
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