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Why You Should Employ Specialized Short Sale Title ServicesWhy You Should Employ Specialized Short Sale Title Services

Why You Should Employ Specialized Short Sale Title Services

03 Sep 2017

Short sales offer great opportunities for the parties involved, but also considerable risks, especially if you lack legal and title expertise. Compared to other real estate transactions, there are unique issues and protocols that must be taken into account to close a short sale timely and successfully. That is why Marina Title offers comprehensive Short Sale Title Services that cater to the needs of lenders, Realtors, sellers, and buyers involved in short sale transactions.

 

Understanding Short Sales

To appreciate the importance of Short Sale Title Services, it helps to know what a short sale is. This type of transaction is common in markets where home values have fallen and homeowners can’t make their mortgage payments or sell their homes at a profit. In this situation, many lenders will allow the homeowner to sell the property for less than what is owed on the mortgage, since it may be better to take the moderate loss than incur more time, expense, and energy foreclosing on property and then selling it.

 

What Does the Short Sale Process Entail?

In most respects, short sales are conducted no differently than any other real estate transaction, except that the lender has the final say in approving any offer that is made.

Depending on the situation, lenders will usually wait until they find a buyer that will pay as close to the original value as possible. Once an offer is approved, the closing begins and the process continues as it would with any short sale – that’s when Short Sale Title Services come in.

 

Professional Short Sale Title Services Can Make or Break a Closing

It is critical for buyers to obtain comprehensive title solutions in any real estate transaction, especially one involving a distressed property. All parties involved have an interest in making sure that there aren’t any title problems and liabilities, such as liens and public record errors, which will delay, if not cancel, the closing.

 

That is why Marina Title conducts thorough title searches and examinations for every transaction, as well as provides title insurance that will protect buyers from any undetected title issues or defects that may emerge in the future. We never allow our clients to take ownership without ensuring title is clear of any possible issues. At the same time, we work quickly and effectively to ensure that the transaction can move along smoothly towards a timely closing.

 

As the closing and title agent for short sales, Marina Title goes beyond these crucial basics to offer additional vital services, including:

 

  • Providing sellers with an introductory package detailing the short sale process and requirements of their lender

 

  • Gathering and organizing all pertinent documents for the closing

 

  • Compiling the seller’s short sale package to send to the lender

 

  • Keeping all parties up to speed on the status of the short sale process, pending protocols to be completed, and other updates

 

  • Advising buyers on the title history and search results, as well as any other important information they need to know about the property

 

  • Conducting the settlement, closing, and issuance of title insurance

 

Our wide range of experience in successfully closing all sorts of transactions means we’re ready and able to address the unique requirements and challenges of any given short sale transaction. Whether you are the lender, buyer, seller, or real estate agent, we have the Short Sale Title Services you need for a successful closing.

 

For more information on how Marina Title can ensure an effortless short sale, contact (305) 901-5628 or email info@marinatitle.com.

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