EXPLANATION OF
SERVICES
The Short Sales Company of Ohio, Ltd. takes on the
responsibility to buy your home and resell it while
relieving you of the financial burden of mortgage
payments and any outstanding debts on the property. .
Each of our clients must understand our role in the
process of negotiating on their behalf with any lender.
Whether the lender has a first or second lien on your
property, the discussions and negotiations will be time
consuming and paper intensive. We apply commonsense to
your financial and mortgage situation in order to sell
your property and resolve the debt obligation. The
process varies among all lenders and owners of the
mortgages. This includes Fannie Mae, FHA, Freddie Mac,
and Loan Servicers such as: Chase, Bank of America,
Wells Fargo, Huntington National Bank, and many others.
|
 |
Short
Sales: |
| |
A “short sale”
means that the property is sold for less than
the amounts owed for the mortgages, other liens,
taxes, and any other financial expenses which
accrue to the physical residence.
Our role is to agree to buy the property at a
designated price, to represent the Seller
(owner) in negotiations with the lender,
negotiate a short sale price with the lender,
and Sell the property to a Buyer. We buy your
property, take title to it, pay off the liens,
negotiate with the bank and payoff your loan
amount. We pay the negotiated amount to the
bank, and we sell your property to a buyer. Our
offer to the bank is based on many variables
which include: the value of your home, the debt
obligation, the market in and around your
property, and the condition of your home.
We will need your help to close the transaction.
Lenders do not want to own YOUR property. The
Short Sales Company of Ohio, Ltd. offers you an
opportunity to sell your property, relieve your
debt obligation, save your credit, and move on
to another opportunity. |
|
|
Foreclosures |
| |
If you have
been served with Foreclosure Documents, call our
company immediately. We may be able to stop or
postpone the foreclosure of your home by working
with the lender or mortgage servicer. We will
help you resolve your credit problems, if we
can. Make the call and talk with us. The call is
free and you may learn something which might
help you!!
The process of foreclosure for residential home
owners takes approximately 7 to 9 months. Our
company enters the process on your behalf to
work with you to find their best option. You
(the owner) will pay nothing for our services.
The lender will be responsible to pay the real
estate commission and our fee or profit in the
transaction. We are reimbursed for our out of
pocket expenses to clear your title, pay all of
your liens, pay the first and second mortgages,
and all other liens on the property. We will
make a profit on the difference between what we
offer the bank to buy it and our sale price to a
new buyer. The buyer of your home will receive
title insurance, a general warranty deed, and
other legal assurances of good and marketable
title. It is an important point for all buyers |
|
|
REO
Property: |
| |
This property
designation means “Real Estate Owned” by the
banks or lenders. Generally, the property has
gone through Foreclosure and is now owned by the
banks. We facilitate the purchase of bank owned
property by our clients and their
representatives and may save them considerable
money in the purchase price of their home.
|
|
Please gather the information listed below which
is necessary to begin the process with your
lender: |
| |
1.
Authorization to Release Account Information
from your lender.
2. Personal hardship letter (if possible).
3. 2 prior years tax returns (1040 only, first 2
pages).
4. 2 most recent W-2s.
5. Personal financial statement (blank financial
statements forms can be provided).
6. 2 most recent bank statements for bank
accounts and investment accounts.
7. 2 most recent paystubs (if available).
8. Most recent mortgage statement and the last
real estate tax bill |
|
We will schedule a
meeting to discuss your situation. When we meet
you can expect to sign an option agreement to
purchase you home, and an authorization for us
to speak with your lender. |
| |
1. You will be
asked to sign a Debtor Agreement which allows us
to begin working for you.
2. Other required paperwork for foreclosures
will be explained to you.
3. There are no fees to be paid by you.
4. All of our documents have been reviewed and
drafted by our legal counsel.
5. None of these costs will be paid by the owner
(Mortgagor) who may be in default. |
|
CALL US TODAY! 614.738.5279 |
|
|
