Long & Foster Real Estate Inc./Platinum Group Services now offers a program to assist clients and real estate associates with short-sales transactions.
A short sale is when a lender agrees to accept less than the total amount due on a mortgage at the time of a sale. In some cases, it helps to prevent foreclosure.
“Because of economic conditions, the numbers of short sales are rapidly growing,” said Tim Wilson, president of affiliated businesses for The Long & Foster Companies Inc.
Once a sales contract is submitted on a property enrolled in this program, Platinum Group Services is able to get involved. The group has the knowledge and lender contacts to efficiently process packages and requirements that vary by lender.
The service is paid for from proceeds of the sale. The principals of the group have more than 20 years of experience in the financial services and mortgage lending industries.
Their services include educating the real estate agent and seller on the complete short-sale process, providing a realistic timeframe of what the customer can expect, working with the seller, working with an attorney network and coordinating with the title company.
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