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Ellen P. Aya…, Real Estate Pro in Chicago, IL

Has any one have experience with Equator.com for a short sale?

Asked by Ellen P. Ayalin, Chicago, IL Wed Jul 24, 2013

I have a short sale where the bank will only accept paperwork thru Equator.com. I have the papers signed by seller but can only upload the paper asked by the bank. They call it "tasks". How does this work? I would appreciate any info.
Thanks in advance.

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Answers

5
Worst case if you cannot figure how to complete the task in the system. Email the requested document(s) as an attachment in the system to the contact(s) in the email list. They will use it that way too.

There are several places you can upload documents.
0 votes Thank Flag Link Thu Jul 25, 2013
I called SS and found out my form for the Equator was different from theirs. Got it straightened out now. Thanks very much for taking the time to try and help me out
Flag Thu Jul 25, 2013
Gardi and Haught have experienced negotiators and they are fully versed on the system.
0 votes Thank Flag Link Thu Jul 25, 2013
Thanks very much. I will keep that in mind....Ellen
Flag Thu Jul 25, 2013
You have to have an account with equator many banks use equator as the platform to process short sales and REO sales. They send you tasks to complete and you must complete them on time.
0 votes Thank Flag Link Thu Jul 25, 2013
I already have an account. Reason I was at sea was the format that I have for the Equator was different from what BofA has. I got it straightened out now and navigating through it. Thanks very much for taking the time to get back to me.
Flag Thu Jul 25, 2013
Hi: I have done a significant number of short sales and prefer to work on the equator platform. There are tutorials available. You need to get registered and then enter your offer. It is a very good system and helps you through the process. Best Wishes!
0 votes Thank Flag Link Wed Jul 24, 2013
LeAnn, I am already registered but no offer yet. All I am trying to do for now is get the short sale approved. I do not know when I can upload seller's paperwork. All they have asked so far is the 3rd party authorization. I will try the tutorial.
Flag Wed Jul 24, 2013
Ellen,

I suggest that you hire on a third party expert negotiator to take care of the negotiating on the Equator for you if you have not worked on it before. The Equator is the system in which the negotiator for the seller and the negotiator for the bank communicate to complete tasks required by the bank or back end investor such as a BPO, bank statements, tax returns, etc.



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0 votes Thank Flag Link Wed Jul 24, 2013
Sohail, I am already on the Equator.com and have emailed 3rd party authorization. My question was how to proceed. I called the SS of BofA and found put my format in the Equator is different from theirs. Have to straighten this out first with tech support of the Equator. so it will go smoothly. I want to know this myself so I can do subsequent deals easily. First time is always tricky.
Flag Thu Jul 25, 2013
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