Navigating Your Path to a Successful Short Sale
Legal Guidance & Short Sale Negotiations
If you owe more on your mortgage than your home is worth, a short sale may provide a path forward. Our team works with homeowners, lenders and real estate professionals to navigate the short sale process from beginning to end.
Our Commitment to You
Falling behind on a mortgage and trying to sell a home that is worth less than what you owe can feel overwhelming. You don’t have to figure it out alone. We help homeowners understand their options, navigate the short sale process, and work toward a resolution with their mortgage lender. Our team, along with your Real Estate Agent, will be with you every step of the way.
Steps Towards A Successful Short Sale
Short Sale Consultation
We provide free of charge phone consultations to discuss your specific situation, helping you understand the short sale process and your other options.
Document Preparation and Review
We collect and review all necessary documents to ensure a complete short sale package gets submitted to the lender.
Negotiations with Lenders
Our team will handle all of the communication with the lenders and provide weekly updates to the seller and real estate agents. We work to secure favorable terms, aiming to eliminate your financial burden.
Short Sale Approval
Final short sale approval letter will be reviewed by the attorney. Once approved, a copy of the approval letter will be sent to the sellers, the real estate agents, buyer’s lender and title closers.
Closing Process
Our team works with knowledgable title closers that are highly experienced in the nuances of short sale closings. We will provide the title closer with all relevant documentation to ensure a smooth closing.
MEET THE TEAM
Jeffrey Zweifel - Attorney
Jeff Zweifel is a 1987 graduate of Hamline University School of Law in St. Paul Minnesota and has been practicing law ever since. With more than 35 years of experience in real estate, estate planning, business law and short sale negotiations, Jeff brings expertise into everything he does. Jeff is a Real Property Law Specialist as certified by the Minnesota State Bar Association and has worked in the real estate closing and title insurance industry for more than 20 years. He received a bachelor’s degree in 1984 from Augsburg College in Minneapolis Minnesota. His hometown is Marshall, Minnesota. Jeff is married and the father of two children. His interests include fishing and fitness.
Wendy Haisley - Short Sale Program Director/Legal Assistant
Wendy Haisley is the program director for the Markve & Zweifel short sale department. In 2009, Wendy Haisley and Jeff Zweifel began the short sale services at the firm. Since that time, they have successfully negotiated short sale approval and closed more than 4,000 short sales for Minnesota homeowners.
Wendy was a licensed residential real estate salesperson from 1978 to 2009. She has been married to Gale Haisley, a real estate broker, since 1977. They have four grown children and thirteen grandchildren. In her leisure time, Wendy enjoys golfing, cooking, and baking.
Emily Jacobson - Short Sale Program Legal Assistant
Emily Jacobson is a Legal Assistant for the Markve & Zweifel short sale department. She worked for the law office from 2009 to 2015, during which she successfully negotiated over 400 short sale approvals. Starting in 2015, she became a Mortgage Lender helping home buyers understand their mortgage options. Following the recent increase short sale transactions, Emily has rejoined the team at Markve & Zweifel to assist sellers.
Emily is the proud wife of a law enforcement officer and mother to 3 daughters.
Common Questions About Short Sales
Below are answers to some of the most common questions we receive about short sales, designed to help you better understand the process.
What is a short sale?
A short sale occurs when a homeowner sells their property for less than the amount owed on the mortgage, with the lender’s approval.
How long does a short sale take?
The timeline can vary, but typically a short sale approval process takes between 2 to 4 months to complete, depending on the lender’s response time.
Will a short sale affect my credit score?
Yes, a short sale can impact your credit score, especially if payments are delinquent. Generally it is much less damaging than a foreclosure. You can begin restoring your credit score as soon as the short sale transaction closes.
Do I need a real estate agent for a short sale?
To be considered for a short sale, the property must be listed with a Realtor and marketed through your local MLS. A listing agent experienced in short sales can make the process go much smoother and increase the chances for a successful outcome for the homeowner.
Can I stay in my home during the short sale process?
Yes, you can typically remain in your home until the sale is finalized, but it’s important to inform your realtor and our office if the property is vacated.
What are the benefits of a short sale?
A short sale can help you avoid foreclosure, reduce debt, and potentially allow you to purchase another home sooner.
Who pays the closing costs in a short sale?
There may be a $195 legal fee per the retainer agreement with Markve & Zweifel, paid by the seller at the time negotiations begin. In almost all cases, the lender will cover the remaining closing costs of the short sale, including county taxes, Realtor commissions and title company closing fees.
Can I negotiate the terms of a short sale?
Yes, negotiation is often part of the process, and having our experienced representation can be beneficial.
What documents are needed for a short sale?
Typically, you’ll need to provide a mortgage assistance application, bank statements, proof of income, tax returns, hardship letter and other documentation. A complete list will be emailed to the seller once representation has been retained.
Address
3200 Main Street NW, Ste 370
Coon Rapids, MN 55448
Take the Next Step in Your Short Sale Journey
Our dedicated team is here to guide you through every step of your short sale process. Reach out today for a personalized consultation and let us help you find the best path forward.