Our team has extensive experience in real estate, title insurance, mortgage, real estate closings and short sales. When the payoff is more than the price, the closing has to satisfy the lender's approval letter to the dollar. We build the settlement statement backward from that letter.
- What's included
- Preliminary settlement statements for lender submission
- Title search with full lien and judgment report
- Coordination of release documents from all lienholders
- Closing to the approval letter's net figure
- Owner's policy for the buyer at promulgated rates
Approval-letter compliance
The lender's short sale approval dictates the net proceeds, the closing date, and what every line on the statement may say. We prepare the preliminary HUD/CD for approval and close exactly to it.
Junior liens and judgments
Second mortgages, HOA arrears and judgments must be negotiated to a release the senior lender will accept. We coordinate with the negotiator and document every release.
Working with agents and negotiators
We support the listing agent's negotiator with title work, payoff figures and estimated statements as many times as the lender asks for them.
Ready to open your file?
Call or text Sarnia directly, or send the contract and we start today.
Short Sales: common questions.
Don't see yours here? Call us. Explaining title is half of what we do.
How long does a short sale take to close?
Lender approval is the long pole, often 60 to 120 days. Once the approval letter arrives, we can usually close within its deadline, which is commonly 30 days.
Can the seller receive any money at a short sale?
Generally no, unless the lender's approval specifically allows a relocation incentive. Everything is governed by the approval letter.
Does the buyer get title insurance in a short sale?
Yes. The buyer receives a full owner's policy just as in any purchase, and the lender's policy if financing is involved.
Let's open your file.
Send us the basics and a title expert will reach out with a quote and next steps, usually the same business day.
(754) 366-6468 · call or text
Monday to Friday
Evenings and weekends by appointment