Short Sale Escrow
Haven Escrow plays a pivotal role in coordinating short sale transactions, managing the complexities of lender approval with precision, neutrality, and expert communication.
Open EscrowWho This Service Is For
Property Owners
Owners navigating the sale of property for less than the outstanding mortgage balance, requiring specialized support.
Home Buyers
Buyers looking to purchase properties through short sale agreements that require complex lender approval processes.
Real Estate Agents
Agents requiring a neutral third party to manage the intricate lender documentation and strict transaction timelines.
What Escrow Handles in a Short Sale
Opening Escrow
Establishing the neutral holding account and initiating the file promptly.
Coordinating Documentation
Collecting and organizing all required documents for lender approval submission.
Tracking Conditions
Monitoring transaction-specific conditions set forth by the lender for compliance.
Facilitating Execution
Ensuring all parties sign necessary amendments and final closing documents correctly.
Closing & Disbursement
Handling the final exchange of funds and recording of the deed upon approval.
Short sales are uniquely dependent on the approval of the existing lender(s). This third-party review process introduces variables that standard transactions do not face.
- Timelines are often extended and less predictable than standard sales.
- Lenders may request price adjustments or additional documentation mid-process.
- Escrow acts as the central hub, keeping all parties informed as lender updates arrive.
Typical Short Sale Escrow Process
While every short sale is unique, most follow a structured path towards successful closing.
Escrow Opened
Transaction file created and initial instructions received.
Docs Coordinated
Lender approval documentation collected and organized.
Conditions Tracked
Lender-specific requirements monitored for compliance.
Documents Executed
Final approval received and closing docs signed.
Closing Occurs
Funds disbursed and ownership transferred.
Why Use an Escrow Company for Short Sale Transactions?
The complexity of a short sale demands a professional, neutral third party to ensure the interests of the buyer, seller, and lender are balanced and protected.
Contact Our TeamNeutral Coordination
We manage lender-driven requirements without bias, ensuring fair play for all parties involved.
Structured Documentation
Our systems ensure no document is lost in the shuffle of complex bank submissions.
Clear Communication
We translate complex lender instructions into clear action items for agents and clients.
Ready to Start Your Transaction?
Experience the Haven difference. Our team is ready to guide you through the short sale process with expertise and care.