Empire Title of Colorado Springs announced a partnership with Summit Mitigation earlier this summer.
The partnership will allow the title company to help clients work through the short sale process more easily, according to a press release from Empire.
Empire has a short sale subsidiary, Short Sale Solutions.
“We were kind of on the forefront with that, “ said Michael Podoyak, Empire manager.
He said the short sale company formed because real estate agents needed a lot of guidance to get through the short sale process with clients. Now that the practice is becoming more common, Podoyak said Short Sale Solutions wanted to partner with someone who was leading the industry, especially in technology.
“It just makes the process even smoother,” Podoyak said.
The partnership brings on added expertise from a growing national firm.
The partnership is already yielding benefits, according to the release. The negotiators at Summit Mitigation were able to secure a $20,000 incentive for one of Empire’s sellers after the bank had told the sellers they were ineligible for short sale incentives.
The partnership has also increased the title company’s closing ratio and created a faster response to sellers needing help with short sale negotiations, according to the release.