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Short Sale Offer Guidelines Please read through the information below BEFORE contacting us and follow instructions carefully! Failure to follow these instructions may result in your offer being rejected or delayed!
We do our best to keep the MLS up to date. If the property shows "Active" on the MLS, then it is available and we are accepting offers. These properties may or may not Vacant and available to show. You may need to email us for authorization or an appointment to show. Most, if not all properties will have a Supra Keysafe for access. If not, there will be a combination lockbox and the code will be providing in the Private Section of the MLS. By MLS rules you are not permitted to share the code with anyone who is not a Realtor.
We do not have any Reports, Disclosures, HOA Docs or Inspections for these properties. The Buyer will have an option to obtain their own inspections. On occasion we have properties that were sold and have fallen through and the previous Buyer provided us with copies of their Inspection Reports. The MLS will reflect those properties that have Inspection Reports available and the Buyer will need to read and approve those Inspection Reports before submitting their offer.
Please do not call our office unless the information is not supplied on the website. We can NOT disclose any information about the number of offers or their value to you. Write your best offers based on your client’s ability to pay and their interest on the property. We are insisting on E-mails as the preferred method of communicating with our office. Email us at offers@AmerilandHomes.com if you have any questions.
1. Please e-mail your offers to Offers@AmerilandHomes.com with the property address on the Subject Line. Please make sure the copy you are sending to us is clear and legible.
2. Please complete the our Offer Summary Worksheet and submit with your offer. This will help us to process your offer in a timely manner.
3. Please submit your "Highest & Best Offer" since we routinely have very strong CASH offers on these properties. It's rare that we won't have multiple offers on our listing. We will likely either move forward with the best presented offer or may come back and request "Highest & Best" from all Buyers. Please, No Low-Ball Offers since it's a waste of everyone's time. We have priced these properties aggressively and and the bank is not going to give them away. If you want to run an offer past me before writing, please e-mail us.
4. Please write the offer on the current C.A.R. Purchase Agreement. “AS-IS” offers only. If you don’t have the current C.A.R Purchase Agreement, please visit the C.A.R. website at www.car.org and download the current version of WinForms®. Include Short Sale Addendum Form in your offer.
5. You may leave Seller of this property as blank or email us for name.
6. Please allow up to 3 days for response. We will hopefully have a response to you much quicker.
7. Include a copy of the signed Agency Disclosure between the Selling Broker/Agent and Buyer AND a blank copy of the Agency Disclosure signed and dated by the Selling Broker/Agent for the Seller to sign.
8. Include a current Pre-Approval from a Direct Lender/Major Bank (not a Mortgage Broker) with their contact information. A typical Pre-Approval shows Loan Terms, Down Payment, Debt-Income & Loan-To-Value Ratios, Interest Rate, Loan Type ..etc. Pre-Qual letters from Brokers are NOT accepted Unless we can verify qualifications. We are seeing strong cash offers on majority of our Listings (some over List price), so you are putting your buyers in a difficult position, if you are not submitting strong Pre-Approvals.
If an All Cash Offer, please include Verification Of Funds.
9. Include a copy of the Buyer’s Earnest Money Deposit Check. Minimum 1%-3% Earnest Money Deposit is preferred. Also Include Verification Of Funds for the Buyer’s Down Payment & Closing Costs. If you are submitting a Cash Offer, you must provide current documentation of funds. An Equity Line Of Credit will not be acceptable.
10. 30 day +/- Close Of Escrow. Please don’t leave this blank or empty.
11. Removal of Inspection Contingency within 7-10 days. 14 days for Loan & Appraisal.
12. If you are requesting Seller to pay Escrow & Owner’s Title Policy, our preferred is with Stewart Title Company or Seller’s Choice.
13. Closing costs as customary in the County where the property is located. The Seller will pay for Escrow & Owner's Title Policy if using Seller's Choice; but you must specify Seller to pay. The Buyer has the right to select their own Escrow & Title Company, if they want to pay for the costs. We would not recommend this since it creates plenty of confusion which is not worth the headache.
14. The Seller will not pay for inspections. Buyer must pay for them. The Seller will provide a Natural Hazard Disclosure through Property ID.
15. Unless there are actual Minimum Mandatory Government Retrofit Requirements in the area where this property is located, please Do Not check Box 4-C-2.
16. The Seller will consider crediting Buyer for closing costs depending on the offer price. If you are requesting the Seller to credit for closing costs, please request in Paragraph 25-D.
17. If you are writing an FHA or VA offer, at Paragraph 2-C-2 please write “Zero” for Seller pay discount points, and check the boxes “X” not to exceed and write “Zero” for fees to be paid by Seller and lender required repairs. Please request any credits for points, fees or repairs as a “Credit To Buyer’s Closing Costs”.
18. Please complete Section D on Page 8 of the Purchase Agreement with ALL of your correct information (be sure to sign) and the following information for me:
* Real Estate Broker (Listing Firm): Ameriland Real Estate
* License #: 01383543
* By: (Leave blank for us to sign)
* License #: (Leave blank for me to complete)
* Date (Leave blank for us to complete)
* Address: 1754 Technology Dr., Ste 122A
* City: San Jose
* State: CA
* Zip: 95110
* Telephone: 408-292-3000
* Fax: 408-273-6038
* E-mail: Offers@AmerilandHomes.com
19. The Seller will typically not accept an offer contingent upon another property selling, but may consider if in escrow on a case by case basis. Call us to discuss.
20. Please review the C.A.R. Short Sale Addendum Form for more information. Please do not request additional disclosures to be signed other than what is required by the Department of Real Estate.
21. If the Seller decides to move forward with your offer, you will receive a Seller Addendum which the Buyer will need to complete and sign. The Seller will sign after an acceptance. Please note that the terms in the Addendum may supersede terms in the C.A.R. Purchase Agreement. The Buyer and Buyer’s Agent are strongly advised to thoroughly read and understand the Addendum before signing. The Buyer must perform as per the terms of the Agreement and Counter Offer/Addendum! Timeframes are firm and failure by the Buyer to perform within these timeframes may result in a forfeit of their deposit and/or cancelations. You may be subject to fees if you are unable to perform.
22. The Purchase Agreements are not binding until signed by Buyer, Seller and approved by the bank. The Seller reserves the right to continue to market the property for sale and accept any other offer until the Purchase Agreement is accepted and signed by both Buyer, Seller and approved by Bank.
23. Please note that some of the investors will pay a commission only on the Net Sales Price to the Seller and will not pay a commission on any Buyer concessions (credits, closing costs, home warranties, etc.) or my reduced the commission been offered on the MLS. We have no control over this, it is their policy. The net commission difference is usually minimal, but please check the Addendum regarding the Real Estate Commission. If you have a question or issue with this, please contact us before submitting the signed Counter.
24. We will notify you if your offer has been accepted or rejected or when we have further information. Please be patient. Sometimes approvals have to go through different levels and make take a while. Once we have an answer from the bank, we will notify you. Please try to limit your calls to our office. E-mail is the preferred method of communication. Thank you for taking the time to review this information. This will make all of our jobs much easier and expedite the processing of your offer. We will do our very best to keep you updated as to the status of your offer. Thank you in advance for cooperating with these guidelines that will help all parties involved in the transaction! |
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Thank you in advance for cooperating with these guidelines that will help all parties involved in the transaction!
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