The Federal Government has protections in place for Oregon homeowners who complete short sales on their primary residences. It should be noted that investment property, cash-out second mortgages and home equity lines of credit often fall under different guidelines. ToRead more
Our Team of Portland Real Estate ProfessionalsWe're licensed real estate brokers and practicing SFR Certified Portland short sale specialists. We look forward to earning your business through personalized service. Our firm, Oregon Realty Co counts itself among the largest locally owned and operated real estate brokerages in our State and we're proud of our excellent reputation. If you have questions for a Portland short sale Realtor, call us today to learn more about Short Sales in Portland Oregon.
Negotiators Specializing in Short Sales
Professionalism in Service, Experience in Action
Short Sale Agent Services For The Portland Metro AreaAs a team of professional Realtors specializing in Short Sale Listings for greater Portland Oregon, selling properties while continually innovating within these scenarios is our primary focus. Short sales are complicated but our wealth of experience allows us to become specialists, employing our proven techniques to streamline transactions while accomplishing our clients’ goals of debt reduction/elimination. We list your home and showcase your property in many discreet and effective ways to help sell your home and release the mortgage. This process can take some time to complete and sellers can stay in the house during the short sale process if they choose to. Call us to learn more about what a Portland short sale specialist can do for you: 503-445-6104.
Short Sale Specialist Feature: Equator.com, Hubzu.com, Res.net & Other Online Resources
What is the "Equator" asset management system?Equator.com is an independent website that serves as a real estate management portal used by banks to manage short sales and foreclosures. Bank asset managers and short sale specialist Realtors have secure Equator accounts that they can log into for the management of short sale and foreclosure workflow and information. When the Realtor/SFR-specialist lists a property they upload that property into the Equator system if the bank is an Equator member. The Equator system then assigns "tasks" to be completed by the Realtor and by the bank's employees or asset managers. For example, the Realtor uploads a third party authorization form in the "Authorization" task which then triggers a bank task to review the third party authorization for validity. Then, an "upload offer" task may be assigned to the Realtor (SFR short sale specialist). Once the offer upload is completed the bank asset manager would be prompted with tasks to review the offer and to order a valuation of the property (A BPO "Broker Price Opinion" or Appraisal).
What Banks Use Equator?Major financial institutions with a strong market-share in Portland, Oregon include Wells Fargo, Bank of America, Nationstar among many others. Banks use the Equator system for managing data and workflow between bank asset managers and short sale specialist Realtors working in the field. If you're contemplating a short sale in Portland, make sure the Realtors you list with are very familiar with Equator and have their own accounts. At times, agents will mention Equator in passing as a name-drop but if for best results make sure that your Realtors negotiate their own short sales. Otherwise you run the risk of added middle-man fees or at best the listing agent becoming little than a superfluous 3rd wheel while the short sale negotiator handles most if not all of the workflow.
Other Online Short Sale Specialist SystemsThe job description of the short sale specialist has grown and evolved during the housing crash and recovery and today simply being aware of the Equator system isn't enough. Competing management systems such as Res.net offer a very similar platform to Equator, albeit each has its own unique foibles. Also worthy of note is the expansion of the "Homepath" website for Fannie Mae properties in distress (more about Homepath in expanding section below). In addition to workflow management systems some banks also use secure email services. Wells Fargo's "Voltage" secure email system requires you to click a link, verify a personalized security image and then log into the secure website in order to read and respond to messages. Be aware that Wells Fargo does not allow short sale specialists to upload documents into Equator's "Library" section so if one needs to send a pdf document directly to a Wells Fargo bank negotiator the voltage system must be used. Other online resources used at times include the Hubzu.com online real estate auction service used by Ocwen's short sale department to offer short sale properties for auction bids in an online format. Ocwen and other banks are using the Hubzu system as kind of a second-chance system to see if anyone would offer them a better price for the property before they approve the short sale offer. And, while our office is only a single data point for Portland, OR we have found the Hubzu system to produce lower quality (and much lower priced) offers than an offer from a serious buyer who has seen the house in person. That said, for banks that require a series of auctions the best course of action is to simply cooperate and jump through the required hoops so as to move the short sale forward to the approval stage.
HomePath For Short Sales