Private Realtor Document 2

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Short Sale Information and Frequently Asked Questions
Thank you for your interest in our Short Sale listings!
It is our goal to provide you with the information and answers to questions
you may have to improve your response time to your client. Although this
document contains extensive information, we have provided a Table of
Contents on the following page where you can access the specific
information you need without having to print/read the entire document.
This document:
 Details the process we use to list and sell “Short Sale” listings
 Provides all available information about the listing
 Provides all information you need to show the property and write an
Offer
 Answers Frequently Asked Questions regarding Short Sale Listings.
All of our Short Sale listings follow the same process, so while this document
may appear to be “generic”; it is specifically relevant to this Short Sale
listing.
On the next page you will find the ‘Table of Contents’ – Clicking on any topic
of interest will take you immediately to that page.
(Table of Contents)
© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

www.HavenExpress.com
Show Appeal Realty
rev. May 1, 2010 Page 1 of 26
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Table of Contents
Introduction ....................................................................................... 3
Short Sales Defined ............................................................................. 4
Our Track Record Closing Short Sales .................................................... 5
Status of the Listing – Active or AWC-I................................................... 6
ARMLS Policy on Short Sale Listings and MLS Status ................................ 6
Written Instructions from the Seller to the Listing Broker .......................... 7
Showing Instructions ........................................................................... 8
COMPLETE Offer Defined .................................................................... 11
How to Write and submit a COMPLETE Offer.......................................... 12
Proof of Funds Letter Sample .............................................................. 14
Presenting the Offer .......................................................................... 15
From Offer to Close of Escrow ............................................................. 16
Estimated Short Sale Approval Process Timeline .................................... 17
COMPLETE Backup Offer Defined ......................................................... 18
How to Write and submit a COMPLETE Backup Offer ............................... 19
Presenting the Backup Offer ............................................................... 21
Frequently Asked Questions ................................................................ 22
Not So Frequently Asked Questions ..................................................... 24
Contact Us ....................................................................................... 26
Click on any topic of interest and you will be taken immediately to that page.
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Introduction
Thank you for taking the time to read this document which is attached to
each Short Sale listing as a Private REALTOR® document.
We believe that as a Buyer Agent you are entitled to immediate access to all
available information regarding a listing, so that you can help your Buyer
make an informed decision about whether the listing is of interest to them.
The MLS is the appropriate venue for providing that information, so we make
sure that our listings ALWAYS contain the most up-to-date information
available about the listing. This saves you the time of having to email a
request for information that is already included in the MLS listing.
Most importantly, it means that you don’t have to wait, and wonder how
long it will be, until you hear back from us!
If you have a specific question that is not addressed by the information

provided, please email your specific question(s) to
Questions@HavenExpress.com so that the first available support team
member can respond quickly to you. Please be specific in your email so that
we can provide a substantive response. Please understand that if the email
is vague or non-specific, or asks for information already provided in the
listing documentation, it will not receive a response.
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Short Sales Defined

A Short Sale occurs when a property is sold for a price that does not cover
the amount(s) of the existing Lien(s) on the property. The Lien holder(s)
must agree to accept less than the full balance due on the Lien(s) and issue
written authorization to Title and Escrow in order for the sale to proceed and
close escrow. Sometimes other 3rd parties (mortgage insurance companies)
also have to approve the Short Sale.
Therefore, any “meeting of the minds” between the Buyer and Seller is
subject to review and approval by the Lien holder(s) and all relevant 3rd
parties.
Lien holder(s) do not issue Short Sale “pre-approvals”. Lien holder(s)

review contracts, order Appraisals and/or BPOs (Broker Price Opinions) to
determine Market Value, compare the net proceeds available from the
contract to the Market Value, and approve, deny or stipulate the terms and
conditions under which they will approve the Short Sale. This process occurs
after a fully executed contract between Buyer and Seller has been presented
to them for Short Sale approval.
Note: If you see one of our listings indicating “Short Sale Previously
Approved by Lien holder(s)” then there has been a previous Offer on the
property, the Lien holder(s) approved the Short Sale, but for some reason
the Buyer did not close escrow. If this is the case, then presenting an Offer
that provides the same or higher net to the Lien holder(s) as the previously
approved Offer should be approved by the Lien holder(s).
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Our Track Record Closing Short Sales

As you make the decision to show properties to your Buyer AND select
homes on which to write an offer, you want to be part of a process that
results in a positive outcome in as short a time period as possible.
We have been successfully listing and closing Short Sales since 2003. While
different agents use different approaches to listing and closing Short Sales,
we have found that our process produces the best, most consistent,
successful results.
Our closing rate for Short Sale listings taken at least 30 days in
advance of a Trustee Sale date is 100% as of the date of this
document.
How many Short Sales have you closed in the last (fill in the blank)?
That number is continually increasing. If the exact number is important to

you, please research our transaction history in the MLS for the most current
numbers. You can be assured that we have a track record that inspires
confidence and validates our success with Listing and Closing Short Sale
transactions.
We have written instructions from our Seller to submit one, and only
one, contract fully executed by the Buyer and the Seller to the Lien
holder(s) for approval. We do not submit multiple Offers to the Lien
holder(s).
We continue to market the property through Close of Escrow to generate

Backup Offers.
The property remains in AWC-Seller Written Instructions (AWC-I) until Close

of Escrow or until returned to Active status.
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Status of the Listing – Active or AWC-I

If the listing is in “Active” status, the Seller has not accepted an Offer from a
Buyer, and we are presenting Offers to the Seller for their review and
response.
If the listing is in “AWC-Seller Written Instructions” (AWC-I) status, the

Seller has accepted an Offer from a Buyer, it is currently somewhere in the
Short Sale approval process and we are presenting Backup Offers to the
Seller for their review and response. We do not submit multiple Offers to
the Lien holder(s) per written instructions from the Seller.
ARMLS Policy on Short Sale Listings and MLS Status

Question: My “Short Sale” MLS listing has an Offer on it that is being
considered for approval by the Lien holder(s); what status should my listing
be in?
Answer: When a “Short Sale” listing has an accepted Offer (even with a
Short Sale Addendum) signed by both the buyer and the seller, and is
waiting for approval from the Lien holder(s), the listing MUST be put into
AWC-SELLER WRITTEN INSTRUCTIONS (AWC-I) status.
(Note: Any subsequent Offer would be accepted in a back-up position. This

approach will prevent the seller from selling the house more than once. Talk
to your broker for more clarification.)
Additional information on ARMLS Short Sale Policy can be found at the

following link:
http://files.flexmls.com/az/20090313213943180349000000.pdf
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Written Instructions from the Seller to the Listing Broker

We have written instructions from the Seller:
 Not to disclose or discuss the number of Liens, the name(s) of the Lien
holder(s), or the amount(s) of the Lien(s) on the property.
 Not to disclose whether other agents / brokers have notified us that

they intend to submit an Offer / Backup Offer.
 Not to disclose the existence of any other Offers / Backup Offers, or

how many other Offers / Backup Offers may exist, or terms of such
Offers / Backup Offers.
 To only present COMPLETE Offers / Backup Offers (see COMPLETE

Offers / Backup Offers defined).
 That they require a minimum of 2 business days response time to all

Offers / Backup Offers in order that the Listing Broker has time to
verify the LSR and/or Proof of Funds letter provided with the Offer /
Backup Offer.
 Not to discuss the status of the Short Sale approval process other than
to provide an “Estimated Short Sale Approval Process Timeline” in this
document so that Buyer Agents can estimate the status.
 That all Offers / Backup Offers be submitted by Buyer Agents as a

single PDF file via email to the appropriate email address listed in this
document, and to return Offers / Backup Offers to the Buyer Agent
that are submitted by any other method.
 To return all incomplete Offers / Backup Offers to the Buyer Agent for
completion and resubmission, and to not retain incomplete offers.
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Showing Instructions
This property is a Short Sale listing. There is no difference in the showing
process between a Short Sale listing and a traditional resale listing.
Check the MLS for status and showing instructions.
The showing instructions are very specific, are up to date, and are for the
convenience of the occupant. As a result, we are not able to allow any
exceptions to the showing instructions.
If the listing is in “Active” status, we are presenting Offers to the

Seller for their review and response.
If the listing is in “AWC-Seller Written Instructions” (AWC-I) status,

the Seller has accepted an Offer from a Buyer, it is currently
somewhere in the Short Sale process and we are presenting Backup
Offers to the Seller for their review and response. We do not submit
multiple Offers to the Lien holder(s).
Please be sure to read the showing instructions in the MLS listing. There is
no need to contact the Listing Broker prior to showing the property unless
specifically stated in the listing. The showing instructions can be found in
the document section in ‘Private REALTOR® doc 1’.
 If the property is vacant and on lockbox, please show at your

convenience.
 If the property is owner occupied and on lockbox, please read and

observe the showing instructions in the REALTOR® remarks. Please
make arrangements to show directly with the owner.
 If the property is tenant occupied and on lockbox, please read and

observe the showing instructions in the REALTOR® remarks. Please
make arrangements to show directly with the tenant. Remember,
tenants rights apply!
 If the property is tenant occupied and NOT on lockbox, please read

and observe the showing instructions in the REALTOR® remarks.
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Please make arrangements to show directly with the tenant.
Remember, tenant’s rights apply!
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Exceptions to Showing Instructions for Occupied Listings

“My Buyer wants/needs to see the property at a time outside of the days
and times available per the showing instructions because (fill in the blank).”
There are no exceptions. The occupants have defined clear showing

instructions that work for them, and will not approve requests for exceptions
to those instructions. As a result, we are not able to allow any exceptions to
the showing instructions.
Please plan ahead!!
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COMPLETE Offer Defined

The Offer must be written using the most recent versions of all AAR
forms and documents as found in ZipForms on the date the Offer is
submitted.
Documents required (at a minimum):
 As-Is Addendum
 H.O.A. Condominium / Planned Community Addendum (If applicable)
 Loan Status Report signed by the Buyer(s) and the Lender (or Proof of
Funds Letter for Cash Offer)
 Real Estate Agency Disclosure and Election
 Residential Resale Real Estate Purchase Contract
 Short Sale Addendum to the Residential Resale Real Estate Purchase
Contract
 A copy of the Earnest Money Check
All documents must be completely filled out and signed, dated and initialed
where required.
The LSR must have both the Buyer’s Loan Information and Lenders Pre-
Qualification sections completed with all 4 Questions marked “Yes”, signed
and dated by the Buyer and the Lender, and the contact information (direct
phone, cell phone, fax, email) for the Lender must be legible.
If a Proof of Funds letter is provided for a Cash Offer, it must meet

the criteria in the Proof of Funds sample elsewhere in this document.
Copies of bank statements are not acceptable.
Offers missing any of the above documents and/or information are

not considered COMPLETE and will not be presented to the Seller per
written instructions from the Seller.
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How to Write and Submit a COMPLETE Offer

If your Buyer is interested in presenting an Offer on the property, this is the
information you need to know!
Terms of the Offer

The Seller is not in a position to provide funds at Close of Escrow, therefore
all expenses and closing costs are paid for by the Buyer or from the
proceeds to the Lien holder(s). It is the goal of the Seller to enter into a
Contract with a committed Buyer, and the Contract is written so that it
stands the best chance of approval by the Lien holder(s). Items that Lien
holder(s) are likely to reject include (but are not limited to) those on the list
below, and therefore will be the expense of the Buyer. Offers that include
requests for the Seller / Lien holder(s) to pay any of these items may be
rejected by the Seller in a Counter Offer.
 Termite inspection and Remediation (if needed)

 “Seller” contribution to Buyer closing costs
 Discount Points and/or Loan Origination fees
 HOA transfer fees
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Residential Resale Real Estate Purchase Contract

 Line 1 – Name of Buyer ONLY. Offers that include “and/or nominee” or an
assignee clause will not be submitted to the Seller, per written instructions
from the Seller
 Line 2 – Check the box next to “as identified in section 9c.” Do not complete
the name(s) of the Seller(s) – the tax records are not always accurate
 Lines 5-7 – Complete ALL information. Please be sure to put the complete
Legal Description from the tax records, including the Lot # for the property
 Lines 8-12 – Complete ALL information – Earnest Money (Line 8) to be a
minimum of $1,000 or 1% of Line 8 – whichever is greater
 Line 16 – COE to be at least 90 days from date of contract. This date will be
adjusted once approval(s) are received from the Lien holder(s)
 Line 25 – Offers that include a Buyer Contingency Addendum will not be
submitted to the Seller, per written instructions from the Seller
 Line 26 – Check all applicable boxes for attached addendums
 Line 27 – Check “Other” and indicate “As Is Addendum” and “Short Sale
Addendum”
 Lines 40–48 – No personal property is included in the sale UNLESS stated in
the MLS listing
 Lines 72–78 – Indicate that Buyer will pay for those expenses
 Line 91 – North American Title Company (602) 375-2800 / (602) 375-8400
 Line 125 – Check box indicating “pro-rated and assumed by Buyer”
 Lines 180-181 – Write in “None” and have Buyer initial
 Lines 260-262: A Sellers Home Warranty provided by Old Republic Home
Protection has been placed on the property for the duration of the listing
period, including Heat and Air Conditioning coverage
 Please complete Lines 260-262 as follows:
o Line 260: A Home Warranty will be ordered by the Seller with the
following optional coverage:
o Line 261: “Heat and A/C” to be issued by ORHP (Old Republic Home
Protection) at a cost not to exceed
o Line 262: $400 to be paid for by Seller
 Line 362 – Allow at least 2 business days for response from the Seller so that
the LSR or Proof of Funds letter can be verified
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Proof of Funds Letter Sample

On financial institution letterhead:
{Name of Buyer} has the ability to provide the sum of ${xxx,xxx} USD fully
free of Liens, debts and/or encumbrances and is clean, clear and non-
criminal in origin, and is available in the form of a wire transfer for the
purchase of {Address of Property}.
Should you require the verification of the above mentioned funds, please,
contact us at your convenience.
Sincerely,
Name, Title
Phone, Fax, Email
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Presenting the Offer

Email the COMPLETE Offer in a single PDF file attachment with a file
size of 9MB or less to Offers@HavenExpress.com and include in the
subject line the Street Address of the property.
Example:
Subject: Offer on 123 Main Street
You will receive an email confirming that your Offer has been received.
We don’t assemble and compile multiple emails / email attachments into a

single Offer. Image files such as JPG, TIF and BMP are not accepted.
Response Time
After the “verification of Buyer financials” has been completed, the Offer will
be presented to the Seller for their review and response. You will receive a
response from the Seller within 2 business days.
Per Written Instructions from the Seller, Offers submitted by any

other method than by email as described above shall be returned to
the Buyer Agent for resubmission following the process described
above. If you are unable to scan and email, one of the easiest solutions is to
fax the documents to your electronic fax number, which converts the fax
into an email with an attached PDF. You can then review the PDF for
legibility and completeness prior to submitting the Offer.
Per written instructions from the Seller, if the Offer is not COMPLETE, it will
not be presented to the Seller. A support team member will respond to the
Buyer Agent within 1 business day from receipt of the Offer specifying the
reason(s) the Offer has been identified as not being COMPLETE.
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From Offer to Close of Escrow

 COMPLETE Offer received
 Offer presented to the Seller
 Response from the Seller provided to the Buyer Agent
 Buyer and Seller agree on terms resulting in a fully executed
contract
 Listing Broker prepares Short Sale package (Seller Financials,
Contract, and Estimated HUD1)
 Listing Broker forwards Short Sale package to Lien holder(s)
 Short Sale Approval(s) are negotiated with Lien holder(s)
 Updates regarding Short Sale Approval status are provided to Buyer
Agent and Buyer
 Short Sale Approval Letter(s) are received from the Lien Holder(s)
 Listing Broker prepares Agreement Notice and forwards to Buyer
Agent
 Agreement Notice triggers Buyer Inspection period and all other pre
Close of Escrow activities
 Escrow Closes!!
Commissions
The co-broke Offered on our Short Sale listings is based on past experience
with the Lien holder(s) as ARMLS requires that the commission Offered in
the MLS listing be paid to the Buyer Broker, regardless of whether or not the
Lien holder(s) unilaterally reduce(s) the total commission on the transaction.
If the Lien holders(s) reduce(s) the total commission, you still receive the
commission Offered in the MLS; we absorb the reduction in commission.
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Estimated Short Sale Approval Process Timeline

Status of Listing Days Since Contract Short Sale Approval status
Active No Contract Borrower’s Authorization has
been submitted to Lien
holder(s)
AWC-Seller Written Day 1 to 15 (Check date of Complete Package has been
Instructions contract in History tab in Listing submitted to Lien holder(s),
and calculate number of days waiting for the BPO to be
since listing changed to AWC- ordered
Seller Written Instructions)
AWC-Seller Written Day 16 to 30 (Check date of BPO should have been ordered,
Instructions contract in History tab in Listing waiting for Lien holder(s) to get
and calculate number of days results of BPO and to assign a
since listing changed to AWC- negotiator
Seller Written Instructions)
AWC-Seller Written Day 31 to 70 (Check date of Negotiator has BPO and is
Instructions contract in History tab in Listing reviewing file, OR we are
and calculate number of days escalating file to executive level
since listing changed to AWC- at Lien holder(s) for their
Seller Written Instructions) intervention and assistance.
AWC-Seller Written Day 71 to 90 (Check date of Final approval letters expected
Instructions contract in History tab in Listing received from Lien holder(s),
and calculate number of days Short Sale Agreement Notice
since listing changed to AWC- has been completed and
Seller Written Instructions) forwarded to Buyer’s Agent,
proceed per contract
Active and has No Contract The original Buyer could not
remark “Previously close escrow, listing has been
Approved Short returned to Active Status,
Sale” amount and terms of previously
approved Short Sale Offer are
provided in the Documents tab
of the listing in the MLS
If your Buyer is in contract on one of our listings you will receive an update
once a week as to the precise status of approval per updates from the Lien
holder(s).
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COMPLETE Backup Offer Defined

The Backup Offer must be written using the most recent versions of all AAR
documents as found in ZipForms on the date the Backup Offer is submitted.
Documents required (at a minimum):
 As-Is Addendum
 Additional Clause Addendum, Section 1
 H.O.A. Condominium / Planned Community Addendum (If applicable)
 Loan Status Report signed by the Buyer(s) and the Lender (or Proof of
Funds Letter for Cash Backup Offer)
 Real Estate Agency Disclosure and Election
 Residential Resale Real Estate Purchase Contract
 Short Sale Addendum to the Residential Resale Real Estate Purchase
Contract
 A copy of the Earnest Money Check
All documents must be completely filled out and signed, dated and initialed
where required.
The LSR must have both the Buyer’s Loan Information and Lenders Pre-
Qualification sections completed with all 4 Questions marked “Yes”, signed
and dated by the Buyer and the Lender, and the contact information (direct
phone, cell phone, fax, email) for the Lender must be legible.
If a Proof of Funds letter is provided for a Cash Offer, it must meet

the criteria in the Proof of Funds sample elsewhere in this document.
Copies of bank statements are not acceptable.
Backup Offers missing any of the above documents and/or

information are not considered COMPLETE and will not be presented
to the Seller per written instructions from the Seller.
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How to Write and Submit a COMPLETE Backup Offer

If your Buyer is interested in presenting a Backup Offer on the property, this
is the information you need to know!
Terms of the Backup Offer

The Seller is not in a position to provide funds at Close of Escrow, therefore
all expenses and closing costs are paid for by the Buyer or from the
proceeds to the Lien holder(s). It is the goal of the Seller to enter into a
Contract with a committed Buyer, and the Contract is written so that it
stands the best chance of approval by the Lien holder(s). Items that Lien
holder(s) are likely to reject include (but are not limited to) those on the list
below, and therefore will be the expense of the Buyer. Backup Offers that
include requests for the Seller / Lien holder(s) to pay any of these items will
be rejected or countered by the Seller.
 Termite inspection and Remediation (if needed)

 “Seller” contribution to Buyer closing costs
 Discount Points and/or Loan Origination fees
 HOA transfer fees
Backup Offer Response Process

 All COMPLETE Backup Offers are presented to the Seller
 The COMPLETE Backup Offers are kept on file
 If the current Buyer in contract withdraws from the transaction, the
Seller will review all received COMPLETE Backup Offers and determine
which Backup Offer(s) they prefer to negotiate
 Listing Broker contacts Buyer Agent to confirm whether their Buyer is
still interested in the property
 Seller and Buyer negotiate Contract
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Residential Resale Real Estate Purchase Contract

 Line 1 – Name of Buyer ONLY. Offers that include “and/or nominee” or an
assignee clause will not be submitted to the Seller, per written instructions
from the Seller
 Line 2 – Check the box next to “as identified in section 9c.” Do not complete
the name(s) of the Seller(s) – the tax records are not always accurate
 Lines 5-7 – Complete ALL information. Please be sure to put the complete
Legal Description from the tax records, including the Lot # for the property
 Lines 8-12 – Complete ALL information – Earnest Money (Line 8) to be a
minimum of $1,000 or 1% of Line 8 – whichever is greater
 Line 16 – COE to be at least 90 days from date of contract. This date will be
adjusted once approval(s) are received from the Lien holder(s)
 Line 25 – Offers that include a Buyer Contingency Addendum will not be
submitted to the Seller, per written instructions from the Seller
 Line 26 – Check all applicable boxes for attached addendums
 Line 27 – Check “Other” and indicate “As Is Addendum” and “Short Sale
Addendum”
 Lines 40–48 – No personal property is included in the sale UNLESS stated in
the MLS listing
 Lines 72–78 – Indicate that Buyer will pay for those expenses
 Line 91 – North American Title Company (602) 375-2800 / (602) 375-8400
 Line 125 – Check box indicating “pro-rated and assumed by Buyer”
 Lines 180-181 – Write in “None” and have Buyer initial
 Lines 260-262: A Sellers Home Warranty provided by Old Republic Home
Protection has been placed on the property for the duration of the listing
period, including Heat and Air Conditioning coverage. Please complete Lines
260-262 as follows:
o Line 260: A Home Warranty will be ordered by the Seller with the
following optional coverage:
o Line 261: “Heat and A/C” to be issued by ORHP (Old Republic Home
Protection) at a cost not to exceed
o Line 262: $400 to be paid for by Seller
 Line 362 – Allow at least 2 business days for response from the Seller so that
the LSR or Proof of Funds letter can be verified
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Presenting the Backup Offer

Email the COMPLETE Backup Offer in a single PDF file attachment with a
file size of 9MB or less to BackupOffers@HavenExpress.com and include in
the subject line the Street Address of the property.
Example:
Subject: Backup Offer on 123 Main Street
You will receive an email confirming that your Backup Offer has been
received.
We don’t assemble and compile multiple emails / email attachments into a

single Backup Offer. Image files such as JPG, TIFF and BMP are not
accepted.
Response Time
After the “verification of Buyer financials” has been completed, the Backup
Offer will be presented to the Seller for their review.
Per Written Instructions from the Seller, Backup Offers submitted by any
other method than by email as described above shall be returned to the
Buyer Agent for resubmission following the process described above. If you
are unable to scan and email, one of the easiest solutions is to fax the
documents to your electronic fax number, which converts the fax into an
email with an attached PDF. You can then review the PDF for legibility and
completeness prior to submitting the Backup Offer.
Per written instructions from the Seller, if the Backup Offer is not COMPLETE,
it will not be presented to the Seller. A support team member will respond
to the Buyer Agent within 1 business day from receipt of the Backup Offer
specifying the reason(s) the Backup Offer has been identified as not being
COMPLETE.
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Frequently Asked Questions

How many Lien holder(s) need to approve the Short Sale?
All Liens are a matter of public record. The Seller has given us written
instructions not to disclose or discuss that information. While more than one
Lien holder involved means additional work on our part, it does not mean
that the Short Sale approval process will take more time.
What is/are the balance(s) of the Lien(s)?
The Seller has given us written instructions not to disclose that information.
Regardless of the balance(s) of the Lien(s), Lien holder(s) focus on
comparing the net proceeds from the Short Sale Offer with the estimated net
proceeds from foreclosure. They accept the higher number.
How do you know the Lien holder(s) will approve the Short Sale?
We provide pricing, marketing and showing history as part of the Short Sale
package. We advise the Seller to accept an Offer which we believe is an
“approvable” Offer based on the net to the Lien holder(s) and the current
market value of the property. The Lien holder(s) make the choice between
accepting the Short Sale net, or receiving a significantly lower amount
through foreclosure. There is no way to predict with certainty whether or
not a Lien holder will approve a specific Short Sale.
How long does the Short Sale process take?
From accepted contract to close of escrow a reasonable average is 120 days.

We have seen it take as little as 35 days from contract to close of escrow,
and as long as 150 days. Please see the Estimated Short Sale Approval
Process Timeline in this document.
Is there a foreclosure sale date scheduled?
That information is public information and we encourage Buyers and Buyers

Agents to do their own research if that is important to them. Foreclosure
sale dates can be postponed by the Lien holder(s) as late as the same day
that the property is scheduled to go to auction.
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Is the property still available?
If it is “Active” in the MLS, it is available.
Are there any (other) Offers on the property?
The Seller has given us written instructions not to disclose that information.
Is there anything else I should know before submitting an Offer?
As part of our due diligence for the Seller we will confirm the LSR or Proof of
Funds prior to the Seller responding to the Offer. Financial institutions are
closed on weekends and government holidays; therefore our Short Sale
division is closed on weekends and government holidays.
What if I have a question not answered in this document or in the MLS

Listing?
We have attempted to cover every conceivable question that you may have,
but we understand we may have overlooked something and we welcome
your questions if we have not already covered them.
If you have any questions we haven’t covered in this document or in the

MLS Listing, please email the specific question(s) to
Questions@HavenExpress.com. Emails will receive a response within one
business day providing the information requested is not already included in
this document.
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Not So Frequently Asked Questions

If you choose to read these, please do so with a sense of humor!
Yes – these are real questions that have been asked repeatedly.
No – we aren’t trying to make anybody upset – just setting

expectations.
“I have a couple of questions regarding one of your listings. If you’ll get

back to me I’ll let you know which listing it is….”
No response will be provided.
“I’m contacting you about one of your listings that my client found on the
Internet. I’m not at liberty right now and can’t access the MLS so could you
get back to me and go over the information in the MLS…..”
May we suggest you contact your Broker for assistance? No response will be
provided.
“Can you contact me so I can make an appointment to show this property to

my Buyer”? (Listing is vacant on lockbox)
“The showing instructions in the MLS state….. This doesn’t work for my
Buyer. Therefore, the Seller will need to make an exception for me and my
Buyer….”
“Are you only taking backups on 123 Main Street?”
The listing is AWC-Seller Written Instructions (AWC-I) and the REALTOR®

remarks indicate that the Seller is encouraging Backup Offers. No response
will be provided.
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“My Broker tells me that I have to ask the following questions before I
submit an Offer…..”
If the questions are not addressed in the documentation, you are

encouraged to email them to Questions@HavenExpress.com.
“I have read the section that defines a COMPLETE Offer, and I have
everything except for (fill in the blank). Can I submit the Offer and provide
(fill in the blank) later?”
An Incomplete Offer / Backup Offer will be returned to you indicating that it

is incomplete, and based on written instructions from the Seller, will not be
presented to the Seller until the COMPLETE Offer is submitted as one
document. We do not retain incomplete Offers / Backup Offers. We don’t
assemble and compile multiple emails / email attachments into a single
Offer.
“I need to talk with you before I submit an Offer”
We understand and respect that you are used to doing business that way.
All the information you need to write and submit an Offer is available in the
MLS listing. If you have questions not covered in the documentation, you are
encouraged and should feel free to email them to
Questions@HavenExpress.com.
Please understand that we are committed to using technology for

the benefit of both Buyer Agents and ourselves. We welcome
constructive criticism and/or suggestions on how this document can
be improved to be of more help to Buyer Agents.
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Contact Us
Questions@HavenExpress.com for specific questions not addressed in the
information provided in the MLS.
Offers@HavenExpress.com to submit COMPLETE Offers.
BackupOffers@HavenExpress.com to submit COMPLETE Backup Offers.
Once we have received a COMPLETE Offer or Backup Offer from you and
verified the Buyer financials, a team member will contact you and provide
phone contact information so we can discuss.
In order to maintain a complete communication log for all transactions,

phone calls to our “office of record”, voicemail messages, and faxes will be
responded to by email if there is a need to do so.
Please do not expect a response to messages that request information

already provided in the MLS Listing.
Thank you for your interest in our listings!
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Short Sale Information and Frequently Asked Questions

Thank you for your interest in our Short Sale listings!

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

If you have a specific question that is not addressed by the information

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

Short Sales Defined

Lien holder(s) do not issue Short Sale “pre-approvals”. Lien holder(s)

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

Our Track Record Closing Short Sales

That number is continually increasing. If the exact number is important to

We continue to market the property through Close of Escrow to generate

The property remains in AWC-Seller Written Instructions (AWC-I) until Close

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

Status of the Listing – Active or AWC-I

If the listing is in “AWC-Seller Written Instructions” (AWC-I) status, the

ARMLS Policy on Short Sale Listings and MLS Status

(Note: Any subsequent Offer would be accepted in a back-up position. This

Additional information on ARMLS Short Sale Policy can be found at the

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

Written Instructions from the Seller to the Listing Broker

 Not to disclose whether other agents / brokers have notified us that

 Not to disclose the existence of any other Offers / Backup Offers, or

 To only present COMPLETE Offers / Backup Offers (see COMPLETE

 That they require a minimum of 2 business days response time to all

 That all Offers / Backup Offers be submitted by Buyer Agents as a

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

Check the MLS for status and showing instructions.

If the listing is in “Active” status, we are presenting Offers to the

If the listing is in “AWC-Seller Written Instructions” (AWC-I) status,

 If the property is vacant and on lockbox, please show at your

 If the property is owner occupied and on lockbox, please read and

 If the property is tenant occupied and on lockbox, please read and

 If the property is tenant occupied and NOT on lockbox, please read

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

Exceptions to Showing Instructions for Occupied Listings

There are no exceptions. The occupants have defined clear showing

Please plan ahead!!

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

COMPLETE Offer Defined

Documents required (at a minimum):

If a Proof of Funds letter is provided for a Cash Offer, it must meet

Offers missing any of the above documents and/or information are

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

How to Write and Submit a COMPLETE Offer

Terms of the Offer

 Termite inspection and Remediation (if needed)

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

Residential Resale Real Estate Purchase Contract

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

Proof of Funds Letter Sample

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

Presenting the Offer

Subject: Offer on 123 Main Street

We don’t assemble and compile multiple emails / email attachments into a

Per Written Instructions from the Seller, Offers submitted by any

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

From Offer to Close of Escrow

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC

Estimated Short Sale Approval Process Timeline

© 2009 – Anthony R Marriott & Suzanne L Marriott, PC