After becoming the high bidder, here’s what happens:
- Your bid is submitted to the servicer for review.
- After approval, you will receive a contract to review and sign.
- Once you and the seller sign the contract, the offer is submitted for final short sale review by the servicer.
- After that, the servicer gets any necessary investor or mortgage insurance approvals that are needed, and then provides you with a short sale approval letter outlining the terms of the sale.
- Finally, our Closing Coordinator emails you to discuss closing activities, such as transferring the title and moving the property into escrow.