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Buyer Short Sale Process: *
1. Seek the services and advice of an experienced Luxury Real Estate Short Sale Buyer's Specialist
2. Submit to Selling Real Estate Broker an "As Is"
Purchase Contract with an attached Short Sale Addendum
Seller Short Sale Process: * ** ***
1. Contact your Lender(s) to see if you are
eligible for a Short Sale, and if so, request a Short Sale Package
(Documents required by the Lender from the
Homeowner for the Lender to qualify and approve a Short Sale)
2. List the property with a skilled and experienced Luxury Real Estate Short Sale Listing Specialist
3. Prior to receiving an offer for your property,
your Luxury Real Estate Short Sale Listing Specialist will submit the Short Sale Package to the Lender for approval of all documents in the Short Sale Package
4. Once all Short Sale documents have been approved
by the Lender, your Luxury Real Estate Short Sale Listing Specialist will note such on the
Multiple Listing Service (MLS) to alert Cooperating Real Estate Brokers of a Completed Short Sale
Package
5. After
receiving an offer for the property, your Luxury Real Estate Short Sale
Listing Specialist will submit a signed Purchase Offer to the Lender along
with a Preliminary Settlement Statement (HUD - 1) and the Exclusive
Right of
Sale Listing Agreement
6. A Negotiator representing the Lender will be assigned to your file and
will contact your Luxury Real Estate Short Sale Listing Specialist to coordinate, assist and facilitate the
transaction on behalf of the Lender and / or Investor servicing the loan
7. Please note, the Short Sale purchasing process
can take anywhere from thirty days to one hundred and eighty days or more to complete,
if at all, depending on the Lender
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* Luxury Resort Portfolio recommends that both the Short Sale Purchaser and the Short Sale Seller contact and retain the services of legal counsel and a tax adviser prior to entering into a Short Sale agreement.
** MARS Disclosure for General Commercial Communication
IMPORTANT NOTICE:
Luxury Resort Portfolio,LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
*** MARS Disclosure for Consumer Specific Commercial Communications
IMPORTANT NOTICE:
You may stop doing business with Luxury Resort Portfolio,LLC at any time. You may accept or reject the offer of mortgage assistance Luxury Resort Portfolio,LLC obtains from your lender or servicer. If you reject the offer, you do not have to pay Luxury Resort Portfolio,LLC. If you accept the offer, you will have to pay Luxury Resort Portfolio,LLC 6.0% of the final sales price for our services.
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