We have become all to familiar with short sales, fortunately we have been able to find one of the best short sale negotiators available, Michelle Schoen, owner of The Permanent Record just helped us close another short sale, She has a 97% success rate and has successfully helped close over 350 short sales in the past 3 years
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Unfortunately, many homeowners do not understand that they should be contacting a real estate professional that is very knowledgeable in the short sale process at the earliest signs of financial trouble to help guide them and explain to them their options.
Short sales are not a given, banks do not just give everyone that asks the opportunity to sell their home for less than they owe, in fact they make you jump through several hoops, as they should, but to those that are truly a candidate, help is available.
Below is a list of items that every short sale will have to accommodate in order to get the process started, this is not an all-inclusive list, it is the minimum that can be expected and who is responsible.
- Homeowner - Authorization to Release Information
- Homeowner - Hardship Letter (Detailed and hand written)
- Homeowner - Financial Statement
- Homeowner - Pay Stubs (Last 2 months pay stubs. Or letter stating why no pay stubs are available.)
- Homeowner - Bank/Brokerage Statements (Last 2 months.)
- Homeowner -Tax Returns (Complete w/1040 and all schedules - 2 full years )
- Homeowner - Copies of ALL Mortgage Statements
- Broker - Listing Agreement
- Broker - Contract - Fully Executed & Copy of Earnest Money
- Broker - Proof of Funds (cash offers) or Lender Letter (financed offers)
- Broker - CMA (3 active listings & 3 recently sold - less than 6 months ago)
- Broker - Photo Tour of Property (Properties in bad condition only.)
- Broker - Contractor's Repair Estimate (Properties in bad condition only.)
- SS Negotiator - Preliminary HUD-1 Settlement Statement
- SS Negotiator - Preliminary Title Report (O&E, TBD, Commitment)
- All - Additional Paperwork (Lender Specific Forms - As Needed)
A good short sale negotiatorwill help you with all of these items, however they will not do the work for you, keep in mind that you as the homeowner are asking the bank to forgive a debt that you signed for saying you would be responsible to repay the full amount owed. However, life is not a bowl of Cherries and sometimes we are thrown a curve ball that we need to ask for our get out of jail free card. Finding a good agent that is a short sale expert or has one available is critical in this process. 
I am including all of Michelle's contact information along with ours, Please talk with a professional if you feel the need too.
Win-Win Realty - John & Jennifer Marshall 303-771-5491 www.win-winrealty.com
Michelle Schoen -The Permanent Record, LLC (303) 733-0885 - Office (877) 606-4372 - eFax
www.ThePermanentRecord.net Short Sale Negotiator - Real Estate Virtual Assistant -
Real Estate Transaction Coordinator
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