What’s the process of purchasing a short sale property? 

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. 
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