Problem properties can come in many forms. For instance, it may be a home that is in disrepair, a distressed financial situation, or an investment property that has become burdensome to the owner. Whatever the complications, know that the real estate team at Whitecap has solutions and will work to get you the best possible results. We take great pride in delivering world-class service to those who need it most.

Delinquent payments and underwater mortgages are a specialty at Whitecap. These are usually good candidates for a short sale. Short sales can be challenging, but challenges are where we at Whitecap get the most engaged. We have a team of experts who have decades of experience working with banks to close on these types of properties. The steps below outline the general process of getting from our initial consultation through to closing:

  • One of our short sale client managers will contact you by phone and/or email to set up an appointment.
  • At the appointment, the client manager will be looking at the property to get an idea of the value, taking some photos, and discussing how Whitecap can help relieve you from the financial hardship you are enduring.
  • Once the appointment is completed, you will receive instructions and documentation necessary to start the short sale process
    • This documentation will provide all the information and authorization needed to work with the bank on your behalf and get the property listed on the market.
  • Once the listing contract is in place, the client manager or his representative will come back to the house to take listing photos, hang a lock box, and place for sale sign in the front yard.
  • The property is then listed on the MLS at fair market value as a short sale, and we work to get the right buyer in.
  • After receiving a contract that we have confidence the mortgage servicer will accept, we submit it along with the short sale package to the mortgage servicer.
  • The mortgage servicer will begin processing the package. This may take 10-20 days or more, depending on the servicer.
  • When the servicer has signed off on the package, the property goes to escrow.
  • At the end of this process, the property is closed.
  • The loan is satisfied as “settlement” instead of foreclosure.
  • The seller walks away paying nothing and preventing the foreclosure from being entered into your credit report.

To learn more, contact our Realtors.