In order to ensure the highest quality service possible, Lepizzera & Laprocina has enacted a strict policy regarding the submission of short sale files and documentation. We will NOT accept any files that are not complete and we require all documentation outlined in the lender package, NO exceptions. The documentation requested is required by every lender to start and complete the short sale negotiation process. You should have complete packages ready for submission the day the Purchase and Sales Agreements are signed. Delays from the outset will result in a much longer process and a greater likelihood of failure. Please read below for detailed instructions regardarding our proven short sale process.
Lepizzera & Laprocina Package Instructions & Policies
Thank you for choosing Lepizzera & Laprocina to negotiate your short sale. The following are detailed instructions on completing and submitting a short sale file to our office. Please read these instructions carefully and be sure to fully execute all requirements so we may ensure the very best service for you and your client.
Please be sure that you have the most current lender package to be completed by your seller. If you are unsure you may log onto our website at: www.leplap.com
. Register as a new agent by clicking Short Sale Login (if you haven’t already done so) to download the bank specific lender PDF package.
Use the checklist that we have provided within the short sale package. It is designed to help you stay organized and ensure that you collect all necessary documents to make a complete package in order to submit to the bank.
- In order to submit a file to us you must have a valid offer on the property or a signed and dated purchase contract along with all completed forms that are included in the Short Sale Package.
- The day you sign the purchase contract you should also receive the sellers:
- detailed hardship letter (with same date and signature)
- financial statement (with same date and signature)
- any supporting documents requiring a date and signature
- 60 days of bank statements as well as 30 days of paystubs
- must be current to the day that the contract is signed
- IT IS IMPERATIVE THAT ALL DATED MATERIALS CORRESPOND AND MATCH THE DATE LISTED ON THE PURCHASE CONTRACT
i.e. – If the purchase contract is signed and dated for April 1st, the hardship letter, financial statement, and supporting documents must also be signed and dated April 1st. The 60 days of bank statements should be from February 1st to March 1st to April 1st and the 30 days of paystubs should be from March 1st to April 1st.
- Once you have collected all necessary documentation requested, scan your file to PDF format and email to Submit@LepLap.com as an attachment.
- Once your package has been received, it will be reviewed within 24-48 hours. You will be notified of any missing or inaccurate documentation.
- Your timeliness in addressing these issues (if any) will determine how long it takes for us to submit your file to the lender and begin our negotiations. At this time, both agent/seller will be emailed Guest Access to our online Short Sale Commander system. This will allow you to monitor all correspondence on the file at any time.
BE ADVISED THAT YOUR FILE WILL NOT BE SUBMITTED TO THE LENDER UNTIL ALL NECESSARY DOCUMENTATION IS RECEIVED. Lenders will need updated paystubs and bank statements from your seller on a MONTHLY BASIS. All lenders require us to continually update all files on a monthly basis for the duration of our negotiation.
Please understand that these instructions and policies have been put into place to help us better serve you and your client. All information that we require is required by the lenders and our goal is to be proactive so that we may expedite every file as quickly as possible. If you have any questions or concerns please contact us directly at 401.739.7397 or at ShortSales@LepLap.com.
~ Your Lepizzera & Laprocina Negotiating Team