Day 1 to 3 (3 business days)
- A complete Short Sale Package Received
- Short Sale Process Activated
- Short Sale assigned to a processor
Day 4 to 8 (5 business days)
- Processor’s initial review
- Processor’s introduction call to realtor, requesting any and all missing documents.
Day 8 to 25 (10-17 business days)
- Once all documents received, file is assigned to a Negotiator.
- BPO or Appraisal ordered
- Property Evaluation Completed
Day 25 to 35 (10 business days)
- Mortgage insurer approval of short sale
- Investor approval of short sale
- Additional liens negotiated by realtor
Day 35 to 37 (2 business days)
- All the above completed
- Final decision
- Decision letters issued and sent out to homeowner and realtor.
Short Sale Phone 866-903-1053
Short Sale Fax 866-969-0103
Short Sale approval is valid for 30 days.
A Short Sale Must be an “arms-length” transaction. The property may not be sold to anyone the seller has a close personal or business relationship with including family, friends or neighbors.
If you are struggling with your property and would like it sold, however cannot afford to pay out the difference, you should strongly consider a short sale as apposed to letting your property foreclose. I am a licensed realtor specializing in distressed properties and have represented both buyers and sellers in a short sale with ASC Bank.
I will go out of my way to resolve this burden for you, please call me at 702-499-0011 if you have any questions regarding a ASC Short Sale.
ASC Short Sale Approval Letter Sample