Criterion to work with our Senior Partner
Seller Criterion for a Short Sale -Senior Partner Deal or DRS Deal
Propety Criterion for a Short Sale - Denior Partner Deal or DRS
Agent Criterion
Seller Criterion for a Short Sale - Not Senior Partner Deals, DRS only
Property Criterion for a Short Sale - Not Senior Partner Deals, DRS only
Forms for Seller and Agent
Seller Criterion for a Short Sale - Senior Partner Deal or DRS |
Seller must be 2 months behind in payments.
No Bankruptcies
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Property Criterion for a Short Sale - Senior Partner Deal or DRS |
Property that is $200,000 over median price or a minimum of $500,000 in loans.
Minimum "as-is" market value $400,000.
Preferably of 2 mortgages.
80% First Mortgage / 20% Second Mortgage (80/20 Combo Loan)
By geographical area we want to work, no "war zones".
No less than 4 weeks prior to sale date.
First Mortgage loans that are 12 months or older.
No 'New Construction', these houses must be move-in ready for our end buyers.
Repairs that do not exceed 5% of the appraisal.
No Condos or Townhomes
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Agent Criterion |
| Must be your own listing, the seller's agent, not the buyers agent. |
For More information, please go to our Senior Partner web site and watch the videos.
Download the Client Help Form Here |
Criterion to Work with Our Other Short Sales and REO Product
Seller Criterion for a Short Sale - Not Senior Partner Deals, DRS only |
Seller must be 2 months behind in payments.
No Bankruptcies
|
Property Criterion for a Short Sale - Not Senior Partner Deals, DRS only |
Property that is $60,000 or more in value.
Properties with 2 or more loans/liens
By geographical area we want to work, no "war zones".
No less than 4 weeks prior to sale date.
First Mortgage loans that are 12 months or older.
No 'New Construction', these houses must be move-in ready for our end buyers.
Repairs that do not exceed 5% of the appraisal.
No Condos or Townhomes
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Forms for the Seller and Agent |
For an explaination of these please refer back to the Realtor page.
SELLER FORMS
You will need to have the seller complete the following information before we can start the short sale process.
Authorization to Release Information - Needed for bank negotiations with the short sale.
BK Confirmation - We want to be sure we are not in the middle of the deal when a BK is filed.
Documents to Collect from Seller - Word Doc Format
Financial Package - Required in all short sale packages.
Hardship Letter Information - Required in all short sale packages.
Seller Checklist - Everything needed from the seller/debtor.
Seller Property Information Sheet
AGENT FORMS
These forms will need to be completed by you the Realtor:
Activity Log - Please drop the sale price by 3% every two weeks and note on the log along with ALL of the buyer comments. Email to submit at diversifiedrealsolutions.com.
How to Prepare for the Bank BPO Agent - You and/or our Acquisitions Manger will be meeting the Bank's BPO agent and bring supporting documents to give the agent.
Proof Banks lose money
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