For Agents

What Real Estate Agents Need to Know About Short Sales

  • If you are a buyer’s or seller’s agent, contract Greenway Financial Recovery, LLC to represent your client and partner with you in negotiating the short sale. There is no out-of-pocket cost to the seller, the seller’s agent, or the buyer's agent. The buyer doesn't pay the buyer's agent fee, it gets paid by the short sale lender. We only get paid if we are successful in negotiating the sale!
  • Communicate clearly to all parties how much time will be involved and keep everybody informed along the way as to what is happening.
  • Make sure the buyer has realistic expectations as to what is involved and how much time the short sale process will take.
  • As the seller’s agent, begin the short sale process as soon as the property is listed.
  • Generate an accurate comparables. This is one of the most important numbers in the entire process!
  • List the property for two weeks, then drop the price every week until you get an offer on the property.
  • Greenway will contact the bank and find out what information they will need to process the short sale.
  • Greenway will gather all the information needed by the bank and submit the information to all lenders early.
  • Greenway will keep copies and a fax confirmation of everything you send to the bank.
  • Greenway will keep meticulous notes on every call we make.
  • Greenway will call the bank every day to confirm your documents have been received.
  • If after a week, if they cannot confirm your packet was received, Greenway will resend the information.
  • Once the bank has your packet, the information will be scanned into their system. Greenway will find out how long this typically takes and set a date to follow up.
  • At your predetermined date, Greenway will call to confirm the packet has been scanned into the system and is deemed complete.
  • Greenway will request the Bank to order a BPO or an appraisal.
  • When the realtor doing the BPO or the appraiser contacts you to gain access to the property, Greenway will work with them and find out when they will be going to the property.
  • Greenway will follow up to make sure the bank receives the BPO or the appraisal.
  • Greenway will order the settlement statement from escrow and title, double check the settlement statement, and submit it showing the bank how much better this short sale is compared to a foreclosure.
  • Greenway will find out what the first is allowing for the second and negotiate with the junior lien holder to accept this amount.
  • Greenway will work with all lien holders to get their approvals and their notes satisfied. We will make sure they put it in writing that they will not pursue the deficiency.
  • After receiving written approval from all lenders you have 30 - 45 days to close.
  • Greenway works with all parties to make sure this transaction closes successfully.
  • Follow up on closing as normal.
I have worked with Arlena for several years and I will tell you, she gets the job done! Arlena is thorough, won’t take no for an answer and keeps negotiating like a Tiger until she gets the results she needs for her clients. If I had to pick one person to be in my corner and fight for me, it would be her!! Arlena, thank you for the great years of working together and thank you for being the wonderful person you are!!!!!
DODIE SCHMALTZBranch Manager / Sr. Escrow Officer, Ticor Title
Arlena and her company did an amazing job! The short sale process was quick, efficient and excellent communication. We were very satisfied. She got all the liens from our property released and had the bank fully waive all the deficiency. She also got us relocation incentive of $10,000.
TIM & MARGARET S.Homeowners
Arlena is a Bulldog when it comes to negotiations. She will go above and beyond for the homeowners, buyers, agents, escrow and everyone involved in each transaction. I have worked with Arlena for more than 5 years now and I am extremely happy the way she handles every single transaction.
NICOLE W.Keller Williams
Arlena is very Respectful Professional, Responsive and Attentive to customers’ needs and requests. Arlena is even Amazing when working under stress & pressure and always meets the deadlines! Her positive energy & upbeat personality really helps everyone in the transaction to stay calmer. Arlena is always eager to help and answers phone calls, texts or emails. I look forward to working on closing many more transactions with Arlena.
DOMINIKA PUKAYOR & WA Real Estate Broker | AgencyOne NW

BE THE HERO FOR YOUR CLIENT

Greenway Financial Recovery, LLC is your secret weapon to securing a positive outcome for all parties involved in the short sale process.

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