The Hightower Team helps family’s avoid foreclosure and our success relies on committed Buyers. Please review the following information and incorporate these instructions into your offer. Your Purchase Contract will help us determined your Buyer’s commitment. Contact (303) 325-5020 if you have any questions.
Use SSA for “Dates and Deadlines”
SSA means “Short Sale Acceptance”. This allows us to base our dates and deadlines on Bank Acceptance. Use “SSA+_” in the date section of your Purchase Agreement. Know the difference between Bank Acceptance and Seller Acceptance. Contact your broker if you do not know the difference.
Use “MEC + 2″ for Earnest Money
The Hightower Team requires earnest money at time of Seller Acceptance and not Bank Approval. Once the Seller accepts an offer, earnest money is delivered to title within 2 days of Seller Acceptance.
Use “MEC+14″ for the Inspection
An inspection will help Buyers understand the property’s condition and cancel if necessary. The Hightower Team asks that all inspections are completed within 14 days of Seller Acceptance. On the behalf of our Sellers, they thank you for meeting this deadline.
Submit a Complete Offer
When submitting an offer please provide (1) Purchase Agreement, (2) Short Sale Addendum, (3) Copy of Earnest Money Check, (4) Lender Letter -or- Proof of Funds.
Execute the Offer
To help eliminate delays and issues please be sure that all paperwork is signed or initialed. Be sure that YOU sign the offer.
Additional Provisions
Please include the following in the additional provisions of the Purchase Agreement. This will eliminate potential issues and set expectations for the transaction.
- Buyer(s) understand that the property is sold “AS IS”.
- Offer is Subject to Seller(s) Lender(s) written approval of a Short Sale.
- Buyer(s) understand that “Subject to Seller(s) Lender(s) approval of a Short Sale” can take 60-90 days or more.
- “SSA” in dates and deadlines refers to mutual acceptance of the contract by Seller and Buyer on the day of Buyer’s representative receiving Seller representative’s written notice of Lender(s) short sale approval.
- All parties acknowledge this offer continues to require Seller(s) Lender(s) complete written approval to close the real estate transaction; & ownership will legally change to the potential Buyer(s). If for any reason the Seller(s) Lender(s) withdraw their approval prior to closing, the Seller & Seller(s) Broker shall be held harmless.
