Description of Velocity
Complete Short Sale Processing – From listing to closing, we will help prepare your clients for a short sale, provide a preliminary title search, submit file, follow up and obtain a Short Sale Approval. NO COST TO THE AGENT…We get paid when you get paid at Closing! You, as the agent, still has full control over negotiating the terms of the transaction.
Let Us assist you in the process…
Velocity Short Sale Process
- 1. At the time of listing the client signs authorization and disclosure and consent for us to speak to the bank on their behalf and receives a checklist of the documents the bank will require.
- 2. We will assist in answering any questions that may arise as the client completes the short sale package.
- 3. Once we receive all the necessary documents we perform a complete Title and Lien search at our expense.
- 4. We create a preliminary closing statement to reflect all payoffs and liens associated with the transaction.
- 5. Submit package including preliminary closing statement to the bank. Every document submitted to the bank is stamped with the loan number to ensure accuracy.
- 6. From there, we have a unique calendar and task system that promotes follow up calls at least once a week so that our team of processors makes sure the file is moving forward and the bank has all the necessary documents they will require to obtain a final short sale approval.
- 7. We do not take away from the control the agents have over the negotiating and final approval numbers regarding the transaction. We are simply a virtual unbiased neutral helper in the process.
- 8. Once we have the final short sale approval, the escrow Officer prepares the final HUD for approval as required from the short sale approval letter.
- 9. Velocity Short Sales process is complete UNLESS the approved offer withdraws OR extensions on the approval date are needed.
Title Management Agency of Arizona LLC
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