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Agents & Consumers:
Short Sale Proposal Packet Checklist
Include the loan number on the header of every page in the proposal checklist.
Title page
Executive summary that highlights the financial benefits to the lender for accepting the short sale
Table of contents
Written authorization from the homeowner for the Realtor to speak on his or her behalf
Lender’s short sale application
Listing agreement
Buyer’s contract
Estimated HUD-1
Information about any other liens on the home
Short sale disclosure signed by the seller and the buyer
Hardship letter. Note: The hardship letter must be written by the homeowner
Supporting documentation for the hardship, including financial documentation
Recent Comparative Market Analysis (CMA)
Documentation of any damage to the home and estimates for repairs
Detailed request for the short sale
Cost-benefit analysis that details the financial benefits to the lender of accepting the short sale
All relevant phone numbers and contact information
Here is the items you will need when submitting the package on a short sale listing. Open communication with the bank as soon as possible that way when you do get an offer, the communication has already been established and the transaction will go much smoother. Consumers, if you need a short sale specialist in your area, contact me to help you find that professional. Choosing the right agent is important.
I you should have any questions about the process please feel free to email me. Christin Griffin@hotmail.com
Your Las Vegas Real Estate Professional & Short Sale Specialist!
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