Short Sale System-Real Estate Investment Foreclosures

Three Volume Set

Vol.1 – The Short Sale Process

• Analysis of the Foreclosure & Short Sale Process
• How to Find Foreclosure Property
• Triggers in Advance of Foreclosure
• The Repair List to Submit to Lenders
• Preparation for the Critical BPO Visit
• The "why’s" behind the Short Sale scenes
• Critical Time-Line in the Short Sale Process
• The Time Lag in Processing
• 21 Day State vs. Judicial State
• Credit Repair
• Credit Re-Building
• Buyer’s Assistance for Access to Another Home to Replace the Foreclosed Home

Vol.2 – Docs

 

• Foreclosure Information Worksheet
• Checklist & Dates
• Loss Mit Scripts
• Outbound Solicitation Scripts
• Property Information Worksheet
• Short Sale Letters
• Promotion Options
• Postcard Campaign
• Sign Campaign
• Buying Checklist
• Seller Signage Checklist Tracking
• Property Disclosure Statement
• Authorization to Release Information, including addition of legal counsel
• Short Sale Procedure for Processing Agreement
• Assignment of Beneficial Interest in Land Trust
• Resignation of Trustee
• Seller Request to Remain in Property
• Agreement and Declaration of Trust
• Agreement & Statement of Understanding
• Agreement of Money Disbursed and Release of All Claims
• Acceptance by Trustee
• Bill of Sale of Personal Property
• Escrow Letter
• Request to Cancel Insurance
• Limited Power of Attorney
• Letter to Mortgage Company
• Letter to Insurance Company
• Residential Real Estate Disclosure
• Required Purchase Contract
• Warranty Deed of Trust
• Promissory Note
• Land Trust Agreement
• Trustees Limited Power of Attorney
• Land Contract
• Option to Purchase
• Contracting Agreement
• Rental Agreement
• Disclaimer of Due on Sale Clause
• Election of New Trustee
• HUD 1 Form
• Short Sale Offer to Purchase

Vol. 3 – Model Pattern

I - An Example of a Foreclosed Home & the Successful Short Sale

• Pictures of the foreclosed home
• Marketing & advertising to find a Buyer

II - Docs required by the lender & fulfilled by the Mortgagor & Investor/Agent

III - Docs of lender's acceptance of the short sale

• Acceptance Letter
• Lender letter to mortgagor
• Wiring instructions
• Assignment of unearned premium refund
• Closing instructions

IV - Closing Docs of the Short Sale

• HUD 1 Form
• Warranty Deed
• Privacy Policy
• Southern Title Insurance Co. Commitment
• Property Tax Information
• Tax Proration Agreement
• Notice & Waiver
• Buyer - Seller Certification ****?
• Disclosure of Business Relationship & Disclaimer of Business Referrals
• Disclosure/Settlement Statement
• Affidavit & Indemnity Agreement
• Proceeds for Real Estate Transactions (substitute for Form 1099-S)

IV - The Example: Facilitation Fee