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True Vision Advisors
We don't look for SOLUTIONS, we create them!

Short Sale Advisors

What is a Short Sale?

  • A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

    But to be technical, here's a more official definition:

    • A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
    • A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the the mortgage.

For homeowners to qualify for a short sale, they must fall into all of the following circumstances:

  • Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
  • Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
  • Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. 

 Seller Document Check List


Authorization to Release (1st)
Authorization to Release (2nd)
Mortgage Statement (1st)
Mortgage Statement (2nd)
Hardship Letter
Personal Financial Statement
Tax Returns (2 years)
Bank Statements ( 2 months)
Paystubs / Proof of Income
W-2 Statement
Credit Cards / Medical Bills
Listing Agreement
Short Sale Disclosure


Buyer Check List

Purchase Agreement
Proof of Funds


Property Check List

HUD-1
Title Report
BPO/CMA
Repair Estimate
Property Inspection
Payoff Letter 1st Mortgage
Payoff Letter 2nd Mortgage 

 

 

The Process & Management

Our Short Sale Advisors are experienced working with the lenders and have a proven process. 

We DO NOT charge a fee to the Seller, Buyer or Realtor®.

Our Short Sale Advisors do all of the negotiating with the lenders.  The Realtor® does not have to communicate with the lenders at all.

How the Process Works.

»    Once the Seller has Listed their property and believes they are in Distress, either the Seller or Seller's Real Estate Agent will contact True Vision Advisors.  A Short Sale Advisor will be in contact with the Seller and/or the Seller's Agent.  After the initial conversation, a welcome packet will be sent out to the Seller, which will include, an Engagement Agreement and a list of required documents neccessary to determine eligibly, as well as, begin and complete the short sale process. 

»    Once the Engagement Agreement and required documents are received, you will be assigned a Short Sale Advisor.  If it is determined by your Short Sale Advisor, that you meet the qualifications to begin a short sale process, the Seller and the Seller's Real Estate Agent will be notified.  Please note, the Lender will have the final determination on whether a Seller will qualify.  Your Short Sale Advisor is only determining a preliminary eligibility.

»    The Short Sale Advisor will work with the Seller's Real Estate Agent on the necessary steps that need to be put in place to ensure a reasonable sale price which a Lender will likely accept, and lead to a sucesful and speedy closing.

»    Once an offer is delivered and accepted, the Seller, Seller's Agent, Buyer's Agent, and Title Agent, will be granted access to our platform we use to manage the short sale process.  A link with a User ID and Password will be emailed.  You will have 24/7 access from start to finish.  All updates are live.

»    The Short Sale Advisor will not submit a package until all documents required by the lender have been recieved.  Please note, the short sale process is long.  Any delays in returning the required documents, for either the Seller or Buyer, only adds to the time frame. 

»    Once a completed package has been sent to the Lender, the Lender will assign a Loss Mitigation Negotiator. Your Short Sale Advisor will begin the negotiating process.  In some cases, the loan may be sold to another Lender during the process.  If this occurs, your Short Sale Advisor may be required to submit an entire new package.  In addition, the new Lender may request other documents necessary for their decision.  Your Advisor understands and appreciates the emotional and anxiousness of the situation, and will do everything possible to make it a smooth transaction.

»    A Lender, after negotiations, will either Accept, Reject, or Counter the Offer.  Your Short Sale Advisor will inform the Seller and Real Estate Agents of their decision.  

»    Finally, when the Lender makes a final decision, your Short Sale Advisor will inform the Seller, and the Real Estate Agents.


To get started, email us:

help@truevisionadvisors.com "

We don't Look for HOPE, we Create it!

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CDPE®

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