Services>Short Sale Disposition
Short Sale Management
Historically, short sales have been conducted in a reactive environment, with the Servicer not becoming involved until such time the Borrower presents an offer to the Servicer. Consequently, the majority of all marketing and negotiation activity occurs without the Servicer’s knowledge. Overall success has been limited, due to the timing required for the Servicer to validate the property value and evaluate the financial terms of the proposed sale.
Utilizing Phoenix Asset Management’s proven REO disposition model places the Servicer in a proactive position. The Servicer is able to gain control over the transaction in the early stages, and then direct the activities through closing of escrow. When managed correctly, our program has reduced time frames by 15 to 30 days when compared to traditional short sales, and has also increased the Servicer’s net recovery at the loan level.
Upon engagement, Phoenix Asset Management will:
- Assign a specialized team within its organization to manage the marketing and sale of the
properties.
- Utilize Res.Net or your preferred system to manage all marketing activities, providing you with the
ability to monitor all property related activity.
- Assist you in drafting pertinent documents to facilitate the Program.
- Select qualified, experienced REO Real Estate Agents to value and market the properties.
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Provide weekly and bi-weekly reporting packages.
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Coordinate and monitor closing of escrow.
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us!