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Short Sales

What is a Short Sale?

A short sale is when your lender or lender(s) agree to accept an amount lower than what you owe to pay off your home. If you owe more than the house is worth and need to sell NOW a short sale may be your best option. Homeowners that qualify:
  • Have a second or even third mortgage
  • Are behind on payments
  • Have proven financial hardship
  • Want to avoid foreclosure/bankruptcy
  • Want to get a Fresh Start

If you meet the above criteria, you are a good candidate for a short sale. It does require you to vacate the home, but it will prevent further credit damage, stop foreclosure and allow you to move forward with your life. AcQuity will even help you get settled in another affordable home of your choosing, quickly and discretely. Contact us today for a free consultation.

If you do not meet the above criteria, WE CAN STILL HELP Learn about our Negotiation Services>>

 

What are the steps of a short sale and typical timelines?

  • AcQuity will immediately issue a Purchase Option on your home. (1-2 days)
  • Fill out a Fresh Start Kit® and return it to your AcQuity represenstative or Home Owner Advocate® (5-7 days)
  • AcQuity will submit your short sale package to your lender (1 day)
  • AcQuity will follow up with your lender to make sure your case gets submitted to a loss mitigator (a specialized bank employee who handles short sales) (1-30+ days)
  • The lender will order a Broker's Price Opinion (BPO). This means a registered local real estate agent will come out to the home and estimate the current value. (30+ days)
  • If AcQuity's offer on your property and the lender's BPO are close, the lender will approve AcQuity's purchase. (30+ days)
  • AcQuity can begin to help you relocate a new property(30+ days)
  • The title work will be prepared and final details will be negotiated between AcQuity and your lender(30+ days)
  • AcQuity may or may not begin to market your home for new buyers or renters
  • The closing will occur

    The entire process takes between 90 days and 1 year. It can be a long, drawn out process which can be to the home owner's benefit if you need time to relocate for a new place to live.



 

Loan Modification, Lender Negotiation, Loss Mitigation Services

If you don't meet the requirements for AcQuity's short sale program there are still other services we may provide you. AcQuity can help you negotiate with your lender to

  • modify your loan
  • extend the time you have to get caught up on your payments
  • negotiate a sales price on your property that will still allow you to sell your home to a retail buyer.

    Similar services may be found for free at     Hope Now. Please check with this organization FIRST before engaging AcQuity in a "for fee" relationship.

    If you work with Hope Now and feel like the process is overwhelming or that you just don't have the time to go through the steps they recommend then come back and visit us. Prices for our negotiation services range between $300-$500 per case. We do not charge up front fees but will bill you once the negotiations have reached completion. Acceptable resolutions will be spelled out in your contract.

     

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    AcQuity Investments, LLC || Minneapolis, Rochester, Chicago || 877-219-9888 || contact us