Now that’s different for everybody depending on who it is you work with but in my office. My philosophy is that I try to get as much of the paperwork out of the way for you in the beginning, so we don’t have to deal with it later. That basically means having to fill out a few contracts in order for me to be able to sell your property, as well as some bank forms and financial information for the short sale process, and I take care of all things up front. So when I send people my package, I tell them that I’m not going to lie, it is substantial and anywhere from 15-20 pages to fill out and get started.
Recently, I had a client who told me that they were considering me between myself and another agent and they ended up going with that other agent because they only require them to fill out 4 pieces of paper. In that particular instance, that’s just to get things started, which means they are going to have to fill out the same amount of paperwork no matter who it is they work with, and that just means they are putting off paperwork to a little bit later. And they said, you have too much paperwork, it is complicated. I don’t want to deal with it.
My philosophy is that I try to structure everything up front. I try to give it all to you one time. I’m familiar with these banks and I already have all of their forms already. I try to get them out of your way so that you don’t have to worry about anything for a period of 30 to 60 days, before you have to fill out any more paperwork. Whereas the example of starting out with 4, you are going to fill out more and more and more along the entire processing way, or the short sale process simply can’t proceed or more forward.
One thing I tell people is the short sale process does not cost you anything at all. The only thing you only have to commit are 2 things; One, is showing the property so that we could get the buyers through there, and secondly, just filling out paperwork through the process. In my process, I have basically broken it down to 3 parts. One in the beginning, one group of paperwork at the middle and one group of paperwork at the end whereas other agents who are less experienced or less knowledgeable on the banks and how they work. They just piece mail you and paper you to death with the whole process and that can many times be very frustrating.
Hopefully that answers some questions for some of my clients and people who I’ve spoken to in regards to what paperwork is involved in a short sale.Thank you very much for listening this has been my presentation on What Paperwork Is Involved In A Short Sale.