Brian Selem
Brian Selem
Cell: 424-303-4545
[email protected]
CA BRE# 01056044
11777 San Vicent Blvd Suite 850 Los Angeles, CA 90049
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    Brian Selem 424-303-4545 [email protected]
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      • 11260 Regent Street
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      • 3407 INGLEWOOD Los Angeles, CA 90066
      • 12712 WESTMINSTER Avenue Los Angeles, CA 90066
      • 3011 PICO Boulevard Santa Monica, CA 90405
      • 3296 KEESHEN Drive Los Angeles, CA 90066
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      • Chalon Road, Los Angeles CA 90049
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      • Mom’s Irish Shepherd’s Pie Recipe from Dayna’s Family
      • Russian Tea Cakes Recipe from Brian’s Family
      • Hummingbird Cake Recipe from Breanna’s Family
      • Vegetarian Lasagne Recipe from Ariel’s Family
      • Nana’s Italian Knot Cookies Recipe from Christine’s Family
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    • 2019
      • Brian Selem on Los Angeles Business TV – Short Sale Information
      • Brian Selem on Los Angeles Business TV – Short Sales
      • The Selem Team – October Newsletter
      • The Selem Team – September Newsletter
      • The Selem Team – August Newsletter
      • The Selem Team – July Newsletter
      • The Selem Team – June Newsletter
      • The Selem Team – May Newsletter
      • The Selem Team – April Newsletter
      • The Selem Team – March Newsletter
      • The Selem Team – February Newsletter
      • The Selem Team – January Newsletter
    • 2018
      • And The Winner Is…
      • The Selem Team – December Newsletter
      • The Selem Team – November Newsletter
      • The Selem Team – October Newsletter
      • The Selem Team – September Newsletter
      • The Selem Team – August Newsletter
      • The Selem Team July Newsletter
      • The Selem Team June Newsletter
      • The Selem Team May Newsletter
      • The Selem Team April Newsletter
      • The Selem Team March Newsletter
      • The Selem Team February Newsletter
      • The Selem Team January Newsletter
    • 2017
      • The Selem Team December Newsletter
      • The Selem Team November Newsletter
      • The Selem Team October Newsletter
      • The Selem Team September Newsletter
      • The Selem Team August Newsletter
      • What Homeowners Are Buying In Addition To The Home
    • 2016
      • Local School Information
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    • 2015
      • Top Tips for Buying a Home
      • Community Businesses and Restaurants
      • Prepping Your Home for Sale
      • Your Los Angeles Real Estate Agent

Short Pay

The Step by Step of a Short Pay Sale

“There is no greater service, in my opinion, than helping a client with a Short Payoff. This is a very difficult time and there is no one better than a Realtor who specializes in Short Payoffs to help cure the problem. A Realtor who specializes in Short Pays has vast knowledge and charges the homeowner nothing for his service. It is all paid for through the lender only if the transaction is successful and a knowledgeable Realtor can at times help to negotiate paying your other outstanding debt as well as costs to move.”

The first step is for Brian to review all the liens on your property and view the property. Once a price is established there is a clear understanding of whether or not a Short Pay may be necessary. Many homeowners do not realize that a Short Pay may be a possibility because of a lack of knowledge in closing costs and how rapidly the market may be dropping.The homeowner will be requested to provide a letter with the account number(s) and property address to the lender giving Brian authorization to communicate with the lender(s) in facilitating a Short Pay. The homeowner should supply a list of all delinquent payment including utilities, property etc… The next step is to get the homeowner approved as a candidate for a Short Pay. A checklist will be provided of all the required documents for the lenders consideration including a hardship letter.

Once the lender has approved of the homeowner as a Short Pay candidate, Brian will then perform a Broker Price Opinion. This is similar to an appraisal for a lender to establish a list price on the property. This is critical because pricing a property without the lender’s approval could lead to overpricing. This could cause a bigger loss if the market declines. The lender may then request more money and the homeowner is now faced with the problem of re-marketing at a higher price. This does not go over well with prospective buyers and agents.

At this point, Brian’s exceptional marketing plan comes into play and the sale should follow the flow of a normal transaction. The Seller should review any possible tax consequences with a tax specialist.

Buyers will be required to provide a Pre-Approval letter as well as proof of funds with any offer. A net sheet will be prepared and submitted to lender(s). Once approved by lender it then proceeds to escrow and should close within a normal escrow period.

For a detailed analysis of how much your property is worth and to discuss the possibility of a short payoff please contact the office. The team looks forward to helping you out of a difficult situation with care and confidentiality.

Why Choose Brian?

Brian closed the biggest, single-family, short sale in history! With 18 liens, totaling over $11.5 Million, Brian’s expertise was called in to help avoid foreclosure and close this deal!

His vast knowledge of the Short Payoff process has brought him to educate other agents through his seminars on how to perform Short Payoffs successfully. Brian specializes in Short Sales throughout Los Angeles County. He is known for his follow-up, strong marketing skills and extensive knowledge. He carefully focuses attention in representing short payoff clients with banks, insurance companies, asset managers and loan service providers. Over the past 25 years he has built a reputation that has earned him the thanks of many homeowners.  Brian was the number 1 agent in the United States for providing lender property evaluations in 2000, 2001, 2002, and 2003. A member of NRBA and a specialist in Short Payoffs Brian has worked with many lenders: EMC, Freddie Mac, Fannie Mae, Countrywide, Litton, Chase Manhattan Bank, Washington Mutual, Bank of America, Fleet Bank, Wells Fargo, H.S.B.C., and CitiBank … to name a few.

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Reviews on Zillow
3047588

“Brian is clearly very dedicated at attracting buyers and at closing the deal. He handled a deal with unexpected events… he provided guidance to all … more “
5.0/5.0
by Ken haxton
3017456

“It was great working with Brian and his team. He has a thorough knowledge of Real Estate and lots of experience in the process of selling a home. … more “
5.0/5.0
by cynreed3

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Testimonials

  • “- the most important thing — PRICE.  Naturally your service and responsiveness were great but in the end it’s all about getting the best price possible, right?  Well, I’m not sure how you did it but you were able to help...

    David Schmier

  • “Now that the dust has settled, we wanted to take a moment to say thank you for the outstanding job you did on the sale of our condominium. Under even normal circumstances, this can be a stressful experience, but our...

  • “We recently had the pleasure of buying our first home with the help of Brian Selem at Coldwell Banker. Brian has a wealth of knowledge regarding real estate matters and a genuine love for his work. He makes himself available...

  • “I have purchased two buildings through Brian Selem and I can say without question that Brian is one of the hardest working, most knowledgeable & personable professionals I have ever met…he is tireless in his efforts to provide me with...

  • “Brian’s view of his relationship with the buyer is long-term. His philosophy is to do whatever he can to make the buying experience a positive one in every aspect… After I had closed on the property, Brian continued to help...

  • “Brian Selem was very thorough and he made the process very simple.” Nat & Valerie Williams

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  • © 2019 Brian Selem
    CA BRE# 01056044
    11777 San Vicent Blvd Suite 850Los Angeles,CA90049
    424-303-4545
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