Short Sale Documents Needed
The most important components of the short sale are the proposal and the follow up. Your short sale proposal will include all of the documents required by the lender, as well as supporting documentation that I will compile to show the lender that accepting our proposal will result in the best outcome for everyone involved.
A typical short sale package of required documents will consist of:
1. Authorization to Release Information
2. Executed Contract
3. Buyer Pre-Approval Letter or Proof of Funds
4. Preliminary HUD (closing statement)
5. Listing Agreement
6. Listing History
7. Hardship Letter
8. Paycheck Stubs
9. Bank Statements
10. Tax Returns
11. Financial Worksheet
Additional components that may be included:
1. Market Statistics
2. Current CMA supporting offer price
3. Damage and Repair Report with Estimates
4. Estimated Holding Costs