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Short Sale Flow Chart - Mid Atlantic Settlement Services. ...courtesy of: Nakia Evans, GRI, REALTOR Coldwell Banker Residential Brokerage Office phone: 410.252.2111 Direct phone: 443-864-1358 Email: [email protected] www.NakiaEvans.CBintouch.com Coldwell Banker and the Coldwell Banker Logo are registered service marks of Coldwell Banker Real Estate LLC. Coldwell Banker Residential Brokerage is owned by a subsidiary of NRT LLC. If you have a brokerage relationship with another agency, this is not intended as a solicitation.
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Homeowner AcceptsOffer, Ratifies
Contract Subject toLender Approval
Homeowner ListsProperty withREALTOR®
Homeowner Submits“Package” to Lender for
Approval.
Homeowner Prepares “Package”Letter of AuthorizationHardship LetterListing AgreementCMAPreliminary HUD1Assets/LiabilitiesBank StatementsTax Returns
Contract Submitted toMid-Atlantic SettlementServices For Settlement
Processing
LenderDenies
Short Sale
LenderApprovesShort Sale
LenderMakes
AdditionalRequirements
Mid-AtlanticSettlement Services
Prepares PreliminaryHUD-1
SettlementDay atMid-
AtlanticSettlementServices!
Homeowner Makes Decisionto Sell Property and Apply
for Short Sale Approval
Short Sale Flow Chart
