Milestone Title’s Role and Process in Short Sales
To ensure the HUD-1’s are prepared accurately and with as much detail as possible AND to ensure a smooth settlement, please see below as to the flow of our Short Sale Process:
- Agent meets with client and secures listing and $250 for title work (optional – see Title Search & Lien Search Disclosure) and fee for Lien Certificate (Mandatory (if applicable) – see Lien Certificate Information based on County)
- Agent uploads or emails listing agreement to Milestone and requests an Owners and Encumbrances Report.
- Milestone prepares Owners & Encumbrances Report and emails to agent.
- Once Milestone receives a check from the agent or client, Milestone will order the Lien Certificate and/or Title Work.
- Milestone will work to clear title based on Owners & Encumbrances Report and/or Title Work.
- Once Contract received, Milestone will prepare a preliminary HUD-1 and send to agent for review and submission to short sale lender.
- Milestone will make all follow-up adjustments and changes to the HUD-1.