Plainfield IL, Naperville Illinois Real Estate - Common Elements of the Short Sale Process

Short Sale will in NO Way affect your Credit as much as a Foreclosure will!!

Don't let the bank force you into foreclosure, a defiency judgement, wage garnishments, asset liens, and bankruptcy.

My Service is totally FREE to You -- The Bank Will Pay Me!

I operate in Will, DuPage, Kane, and Kendall Counties

Your credit will recover in as little as 2 years. This is far better than the 7 to 10 years that most homeowners in your situation will face.

Below is the most common elements of the short sale process.

List the home
Bank authorization forms signed
Send bank authorization to the bank(s)
Market the home
Follow up with bank(s)
Fill out financial form(s)
Gather proof of financial information
Send BPO, financial form and financial information to bank(s)
Find a buyer
Negotiate purchase price/terms with buyer
Prepare net sheet for bank(s)
Send purchase contract, listing agreement, net sheet to bank(s)
Follow up with bank and gather other bank requested information
Send bank requested information back to bank(s)
Finalize short sale with the bank(s)
Order payoff letter from bank(s)
Close the property

There is help in these times of uncertainty, please contact me with any questions and/or assistance. If I do not know the answer I will get it for you. I will never mislead or misinform you. I am here to help.

About the author:

Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.

Cheryl Bowers, REALTOR® (630) 712-1921

Posted Thursday Jan 29