Short Sales

A short sale is a sale of real estate in which the sale proceeds are less than the balance owed on the mortgage. It usually occurs when the owner is unable to pay the mortgage loan and the lender is willing to release its lien for less than is owed. Both the owner and the lender consent to the process in order to avoid the time and expense of foreclosure. This does not necessarily release the owner from the obligation to pay the balance of the loan. AN OWNER SHOULD ALWAYS SEEK THE ADVICE OF AN ATTORNEY BEFORE ATTEMPTING TO USE THE SHORT SALE PROCESS.

We are part of THE ADVANTAGE team; an experienced title company and Fabrizio & Brook, P.C., a highly respected law firm with extensive experience in real estate. Fabrizio & Brook, P.C. maintains an experienced staff of short sale negotiators and a CDPE certified attorney who will represent the owner and negotiate for the owner from start to finish. From the time you place your order to the completion of your closing, we will work with all parties to insure a smooth and successful transaction.

If you are a distressed home owner or a realtor in need of experienced short sale specialists, contact us or Fabrizio & Brook, P.C. at 248.362.2600.

As the title company handling your short sale we will:

• Conduct a preliminary residential short sale title search necessary to begin the begin the negotiations;

• Conduct an accurate search of the county records to establish ownership as well as to disclose any
  taxes, outstanding liens and other issues affecting the property;

• Examine the chain of title and issue a title insurance commitment;

• Provide assistance in clearing any title issues and obtaining correct payoffs to any outstanding liens:

• Prepare the preliminary HUD-1;

• Prepare the final HUD-1 and provide a complete closing package with all the necessary documents to
  properly transfer the property;

• Coordinate, schedule and close the transaction in a professional office setting;

• Provide an experienced and professional closer to explain the closing documents to the parties;

• Properly collect and disburse all of the funds;

• Properly record all documents necessary to transfer the property; and

• Issue the owner and lender title insurance policies. Short form policies can be delivered at the closing.