Short Sales

For what can be the most complex transaction in the real estate market, you will need and want the most experienced escrow company out there. Imperial Escrow, Inc. has worked closely with sellers and real estate professionals to achieve short sale approvals in remarkable time. We have mastered the process of handling all short sale transactions and have put our sellers at ease and made our buyers" dreams come true.

Definition:

A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property and the property owner cannot afford to repay the liens" full amounts.

Helpful Program Information for Sellers Who Fall Short and Need Assistance for Approval:

• You must provide your current fall out lender a copy of an executed sales contract/offer.
• You may be eligible for participation in the federal government"s Home Affordable Foreclosure Alternatives ("HAFA") Program.
• Allowable costs may be deducted from the gross sales proceeds, including agent"s sales commissions.
• Sellers/owners incentives of up to $3,000.00 with relocation expenses after a completed HAFA Short Sale.
• Occupant Relocation Assistance, if you have a tenant occupying the property.
• Six percent of the outstanding unpaid principal balance of each subordinate lien (in order of lien priority), with an aggregate total of $6,000.00 to all lien holders, for releasing their liens.