Stage 4

Stage 4 - Title Clearance & Closing

Your clean slate awaits.

Once the approval is issued, we will begin coordination with the appropriate parties to prepare the file for closing. Typically, the lender will allow 30-45 days from the time the approval is issued to close. During this time we will be sending out all applicable documents to the lender, attorneys and title company to ensure title exceptions are cleared. Title exceptions are like conditions in a mortgage, they are outstanding items pertaining to the transaction that must be satisfied before the closing can take place. In the event these exceptions include judgements or liens, our processing company will have already begun the negotiations process to obtain settlements of these items.

If for any reason the seller or buyer cannot close in the time frame allocated by the bank, an extension can be requested on a case-by-case basis.

Provided there are no issues as far as title or buyer's financing, sellers and buyers can move forward with scheduling the close of escrow right away. At closing we will present a final approved HUD which will contain the breakdown of the sale as well as all the closing costs associated with the short sale for the seller(s) and buyer(s). Please remember unlike a traditional sale, the seller’s closing costs are paid out of the bank net proceeds. Our closer will go over this important document as well as any other questions you may have.

As your dedicated short sale processing company we will be guiding you until the very end!