Agents Make an Offer

BEFORE MAKING YOUR OFFER

There are a few key pieces of information you need to know before progressing with our short sales.

The Do's

  • Use forms provided by DUFFY Realty, only (see below)
  • Limit the number of contingencies
  • Thoroughly review all exhibits with buyer
  • Provide proof of funds or pre-qual letter

The Dont's

  • Do not offer with Georgia Dream Financing
  • Do not make changes to typed information
  • Do not attach non-essential exhibits

For Your Info

  • We accept the first full price offer which adheres to The Do’s
  • Offers are presented to the seller for review, acceptance, and signature
  • Per HUD, all short sales are listed in MLS for a minimum of 15 days
  • We work all mortgages on the listing to expedite closing

DUFFY Short Sale contracts are negotiated by
DUFFY Experts by Specialty™
Monday – Friday 9 a.m to 6 p.m.

Agents Make an Offer

SHORT SALE GUIDELINES

Duffy’s guidelines and principles for a successful short sale.

Sellers are Limited

Sellers must show a hardship and prove they do not have the assets to continue paying for the home. Lenders expect the seller to be ‘broke’ at the time of the short sale. Because of this, sellers are able to make very few concessions at the time of sale.

Sold As Is

You can do an inspection, which is recommended; however, if you don’t have the money to make repairs, a short sale is not for you. Lenders will not pay for repairs. Lenders will not allow sellers to make or pay for repairs.

It takes time

A short sale requires, on average, 3 months of lender(s) communication. The disparity in the appraiser-assessed value and the requested sale price are negotiated between the seller and lender(s). Closing must occur within 150 days from time of offer.

Closing Costs

Closing cost percentages can range between 3% down to 0%. These rates are based on the loan type of the seller and loan type of the buyer. The listing agent should know the seller’s loan type. Duffy will not provide info beyond what is available on the listing’s tax record.

92% of FMV

Lenders have a very small appetite for loss, so all short sale offers should be within 15% of Fair Market Value (as determined by appraisal). The offer should also cover 6% commission, any taxes, HOA fees, liens etc. So the minimum offer should be at least 92% +/- of Fair Market Value.

Follow The Rules

After a few thousand short sales, we’ve developed a working system with as many efficiencies as possible. To avoid complication and to make offers on a short sale as smooth as possible, please stick to the Do’s and Don’ts, and adhere to these guiding principles.

MAKING THE OFFER

It’s easy to make an offer on a short sale. Get started by reading below.

1

Download our short sale offer form.  If you absolutely can’t get the form to work, request one by email: [email protected]

2

Review both the instruction sheet and contract for earnest money and closing costs details.

3

Fill out the offer form being careful to abide by The Do’s and The Don’ts.

4

Submit offer with attached exhibits back to DUFFY Realty, [email protected].

DUFFY’s short sale process was the best process I have ever been through as an agent.  It is really simple, just follow the process. – Alisha Spence

Agents Make an Offer
Agents Make an Offer
Agents Make an Offer