Short Sale Timeline

Short Sales: We are with you.....Step-by-Step

The majority of the tasks performed throughout the short sale process will be completed by the seller’s listing agent. It is customary for the bank to deal with a qualified real estate agent in a short sale. The diagram above illustrates the short sale timeline. This section of the page will highlight what happens at each stage of the process and what might be expected of the property owner:

  • Listing agent sends the lender a 3rd-Party Authorization Form, granting them access to receive information from the bank on the seller’s behalf.
  • Offer is received and approved from a pre-qualified buyer and the homeowner prepares a list of documents for their agent to submit to the bank for review. This will include income tax returns, bank statements, paycheck stubs, and other financial disclosures.
  • Offer, pre-qualification letter, and HUD-1 are sent to the bank by the listing agent along with the homeowner’s financial documents. This is called a “short sale package” and may also be referred to at the bank as the short sale “file.”
  • File is assigned to bank negotiator.
  • Bank sends an independent licensed real estate broker to the property to perform a valuation called a “Broker’s Price Opinion (BPO).” The BPO is meant to give the bank a general snapshot of the property value and condition.
  • BPO agent sends the valuation to the bank.
  • Short sale package and BPO are reviewed by the bank and their investor.
  • Bank decides to either approve or reject the homeowner’s request for a short sale.
  • In the case of an approval, a written acceptance is sent to the homeowner for review 

(909) 923-2469

 

Chris L’Allier

 

10% Office + 90% Warehouse, 26th Street, 2,175sf

 

92405

 

Please no dispensaries or grows!  Please no calls!  No Emails!

To find your perfect property quickly, click the back button on your browser, then on the top of the page click on GALLERY.  With that, you will view the images on each property!  All properties from Escondido Enterprises will have a blue box around each floor plan for easy identification.  Also, ads with duplicated photos is an indicator that the ads are not unique separate properties, but the same.

Just off the 215 freeway at the Highland/27th St exit.  This is a cul-de-sac location with plenty of street parking.  New construction.  High image building.  Easy on/off the 215 freeway within one minute.  This is part of a 17,000 square foot building offering short term leases.

Zoning: CG-1 COMMERCIAL GENERAL ZONE

This zone is intended to provide for the continued use, enhancement, and new development of retail, personal service, entertainment, office and related commercial uses along major transportation corridors and intersections to service the needs of the residents; reinforcing existing commercial corridors and centers and establishing new locations as residential growth occurs.

Call now!  Other properties become available daily. 

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BRE# 1840075 & 1710022

 

2175

 

1500
 

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