Trevana Properties
What We Do
In order to enable over leveraged properties to be sold, Trevana Properties, LLC will negotiate with mortgage lenders and other lien holders to obtain releases. We provide liquidity to lenders, investors and homeowners by working as loss mitigation specialists for real estate agents, attorneys, homeowners, mortgage brokers and other investors. Our services also include our ability to purchase large pools of REO'S, non-performing and performing mortgages from banks and lenders being a reliable source for their balance sheet needs.Know Your Business
We know how important it is to stay up to date with changes taking place in the market as well as the short sale business. Not only do we provide a product to help you simplify and manage your short sale business but you can find the latest information about the short sale industry, new laws and tips from other successful short sale professionals. The National Association of Realtors has indicated a majority of sales in 2009 will be short sale transactions. Our experience provides the best opportunity for success for short sale management.Welcome to Trevana Properties. This site has been established for Real Estate Agents, Brokers, Investors, Homeowners, Attorney’s, Mortgage Broker’s and Lenders so that they will be able to manage and view their Short Sale Negotiations in Real Time. This site is an absolute one of a kind site that gives an up to date status of where the short sale negotiations are in the process through a simple organized system.
This site will allow your homeowners, Real Estate Agents and other Real Estate professionals involved in the short sale transaction the ability to receive updates about their short sale without having to call you during the short sale negotiations. This site also contains any and all documents you will need in order to complete your short sale, all right at your fingertips! And you’ll also be able to upload any documents that you have already filled out or that are needed by anyone involved in the transaction.
Some important facts from Trevana Properties to be aware of:
Perhaps the most important fact to understand is that in today’s economy short sales are a must to sell properties. Since property values have declined nationwide at such a rapid pace, The National Association of Realtors predicted that in 2008 and 2009 over 50% of all properties sold will be short sales or REO properties. It is unavoidable. If a house is to be sold in today’s market, then a short sale will be needed to make that happen.
Short sales require hours upon hours of work, and organization is imperative in order to get them done. Also be aware that short sales will typically take approximately 3-4 months to complete depending on which state you are in (see below for typical lender timelines), and that is simply because the majority of lenders are overwhelmed at the moment, some receiving as many as 500 or more short sale packages a day! And in some cases 2 or 3 weeks may go by without any change in the status a file.
| Typical Lender Timelines (for each step in the short sale process) | |
| Get authorization on file with lender | 2 days |
| Compile short sale documents | 7-14 days |
| Get short sale package on file with lender | 3-7 days |
| Short sale package assigned to negotiator | 10-14 days |
| Get BPO/Appraisal ordered | 14-21 days |
| Schedule BPO/Appraisal with agent | 5-10 days |
| Time for BPO/Appraisal to get to negotiator | 21-28 days |
| Negotiate/obtain approval from negotiator | 15-20 days |
| Total: | 77-104 days |
Please note that these timelines can vary by lender and that the above timeframes are meant to provide a general timeline, again taking into account that nearly all lenders are overwhelmed with short sales. With this being said, we do understand that you will want to be able to check on the status of your property quite frequently. And since homeowners, agents, attorney’s and mortgage broker’s can view the current status of the short sale negotiations in real time, it will free up more time for you to serve their clients by giving you more time to negotiate with the foreclosing lender(s) and less time spent talking on the phone and updating everyone else that is involved in the sale of the client’s home. Each registered member of the team (homeowners, agents, attorney’s and mortgage broker’s) will have access only to the information relative to the security level granted upon registration.
Best of all, Trevana Properties will provide education and the latest information available on how the short sale process operates, and what the process involves. Any questions that you or your clients may have can be answered right here! All of the information provided at Trevana Properties has been geared toward successful completion of the short sale process. So that not only you, but all of the players on your team, as well as your clients will know what to expect, what will be required and where to go to get what you need to create win-win outcomes in what can be a daunting process.