Short Sale Processing & Coordination Services
Navigating distressed property transactions with legal diligence, lender negotiation support, and professional title coordination.
What is a Real Estate Short Sale?
A short sale occurs when a property is sold for an amount less than the outstanding balance owed on the mortgages and liens encumbering it. In a short sale, the lender or mortgage servicer agrees to accept a discounted payoff due to demonstrable financial hardship on the part of the borrower.
Successfully executing a short sale requires rigorous communication with the bank’s loss mitigation recovery department, precise settlement statement preparation, and clearance of any junior liens or municipal violations.
Important Legal & Tax Disclaimer
Elite Land Title, Inc. acts as an independent title insurance and escrow settlement agency. A short sale may carry significant tax liabilities (such as 1099-C cancellation of debt income) and legal consequences. Sellers must always consult with a qualified real estate attorney and Certified Public Accountant (CPA) regarding their individual legal and tax implications.
Our Short Sale Coordination Workflow
Financial Hardship Package
Gathering borrower financial statements, tax returns, hardship letters, and authorization agreements.
Lender Submission & Appraisal
Submitting the complete short sale file and coordinating the bank’s BPO (Broker Price Opinion) or appraisal valuation.
Negotiation & Approval Letter
Working directly with servicers to secure an official Short Sale Approval Letter with clear deficiency waiver terms.
Closing & Title Perfection
Issuing clean title insurance, coordinating escrow disbursements, and fulfilling all lender closing stipulations.
Request a Short Sale Processing Package
Are you an agent or homeowner preparing a short sale in Florida? Contact our closing department to receive our full intake checklist.