Expert Help for Homeowners Facing Foreclosure
Find clear, straightforward answers to common questions about short sales and foreclosure assistance.
What types of financial difficulties does Gateway Realty assist with?
We specialize in helping homeowners struggling to avoid foreclosure or underwater mortgages through short sale solutions.
How do Realtors benefit from referring distressed homeowners to Gateway Realty?
Referring Realtors receive competitive referral fees while we handle the entire short sale process to help their referred distressed homeowners avoid foreclosure in an efficient and effective manner.
Is the short sale process compliant and transparent?
Yes, Gateway Realty ensures full compliance with all Federal and State rules and regulations while simultaneously maintaining transparency throughout the process.
Can homeowners directly contact Gateway Realty for assistance?
Absolutely, homeowners can reach out to us directly or through their referring Realtor for help.
Our Process
Discover how Gateway Realty supports homeowners and agents through every phase of short sales with clarity and care.
Step One: Qualify the Homeowner, Sign a Realtor Referral Agreement, then reach out to the Homeowner to begin the Short Sale process
We begin by qualifying the homeowner referral. If the homeowner is a good candidate for a short sale we do a Referral Fee Agreement with the referring Realtor. Next, we get the contact information and reach out to the homeowner to explain the short sale process and begin gathering financials and other paperwork.
Step Two: We Process The Short Sale, compile the short sale package and Submit It to the lender, then we continually Follow up with the Lender
We then process the short sale, this includes: gathering all required homeowner financials and other paperwork, getting the property listed and all normal listing related tasks, gathering property related documentation such as property valuations and condition reports, and lastly a short sale purchase contract. Once we have done all required tasks and compiled all paperwork we put together the short sale package (can be upward of 100 pages) and format it as required for submittal. Once the package is submitted it becomes an almost a daily activity of following up with the lender to verify receipt and inquire as to the status…
Step Three: Lender Evaluation, Likely Value Rebuttal and Negotiations, Followed by Approval, Then Settlement. AKA: YOUR REFERRAL FEE PAYDAY
At some point after the short sale package is submitted (normally after many calls to the lender), the lender orders a BPO (Broker Price Opinion). This very often comes in high and the process of trying to rebutt and get the price lowered begins. Once an agreed price is reached and approved, settlement is scheduled. This is where everybody celebrates, the homeowner for avoiding foreclosure and a potential deficiency judgement, us for another successful short sales and YOU THE REFERRING REALTOR BECAUSE YOU HELPED OUT A DISTRESSED HOMEOWNER & YOU GET PAID A VERY ATTRACTIVE REFERRAL FEE!
Navigating Short Sales Seamlessly with Gateway Realty
Connect with Gateway Realty to simplify short sales and maximize your referral earnings.