Real Estate Short Sale Automation Software

**Short Sale Automation Software: **I need a software that automates a niche real estate investing technique known as a short sale. I am an expert in this field and know every detail from start to finish dealing with the process. The steps are unique but the processes can be systemized. Their will be a few sections devoted to each process. **Overview:** Create a short sale software consisting: Web Based: Virtual CRM System Database manager Robust/Comprehensive marketing system Forms creator (word, pdf) Project Manager Estimator Tools for Repairs (excel style) Lead Generation (option to bring in leads) *Referral Model (keep customers up to date with notes, passwords, see case notes **Purpose:** I need to better train 5 part-time negotiators so they can systemize their workloads, track progresses and continue to bring in new business. **Challenge:** Too much paperwork. It is an extreme hassle keeping up with mannilla folders, homeowner information, lender docs, etc.. ## Deliverables **Definiton of a Short Sale: **A lender agrees to accept less than what is owed on a debt. Ex. If a borrower owed $100,000 on a mortgage. The lender may be willing to accept $80,000 if they were paid in full. The lender would consider this over taking a property to sheriff sale by means of a foreclosure. In short, the lender saves money by accepting less money now compared to lossing more money holding out for the foreclosure. **Steps of Processes: Step 1:** Deal with the homeowner: You request certain documents dealing with the homeowner. All the documents are the same each time. *provide the homeowner to certain online access to check notes on progress of short sale. **Step 2:** Submit documents to the Lender. The lender has what they call a "short sale packet" they require completely filled-out/completed to consider a short sale option. This process takes time. The lender usually responds within 24 - 48hrs after documents are sent to them. The software would need to have a built in notes section tied to a date and time and have specified format so it would be easy to keep track of each time contact with the lender has been made. **Step 3:** Dealing with a BPO The lender hires a third party to retrieve a value of the property in consideration. The BPO agent will consider a repair report, crime report, sold comps, purchase and sale agreement, letter of hardship (reason homeowner can no longer make payments). The software would need to have a section to properly keep track of the name of the BPO agent, company they represent, value they presented if known, other various items... **Step 4:** Submitting the Short Sale Package or Counter offering You would submit the completed documents to the lender and have them consider all your supporting documents you presented to them to build a case on why the offer should be accepted. This can take a few weeks or months. This would need to be properly documented with various ponts of contacts with the lender. **Step 5:** Getting the Sale Acceptance: Once the lender accepts the offer they issue a short sale acceptance letter. You schedule a closing and deal with an end buyer if the closing type is simultaneous or double. **Other considerations: **Other liens, any second mortgages, judgments, lienholders, tax liens, back taxes, sewer bills etc... all of these will need to be satisfied. A proper documentation with date, time and notes section would be necessary. **Marketing:** Their is considerable marketing that goes into finding a new buyer for the property once it has been accepted for a short sale. **Resources:** I have a resource that has a popular software developed for short sales that we could view and learn from additional sections for consideration. 1) Complete and fully-functional working program(s) in executable form as well as complete source code of all work done. 2) Deliverables must be in ready-to-run condition, as follows (depending on the nature of the deliverables): a) For web sites or other server-side deliverables intended to only ever exist in one place in the Buyer's environment--Deliverables must be installed by the Seller in ready-to-run condition in the Buyer's environment. b) For all others including desktop software or software the buyer intends to distribute: A software installation package that will install the software in ready-to-run condition on the platform(s) specified in this bid request. 3) All deliverables will be considered "work made for hire" under U.S. Copyright law. Buyer will receive exclusive and complete copyrights to all work purchased. (No GPL, GNU, 3rd party components, etc. unless all copyright ramifications are explained AND AGREED TO by the buyer on the site per the coder's Seller Legal Agreement). ## Platform creator recommendations